[Federal Register Volume 77, Number 226 (Friday, November 23, 2012)]
[Pages 70207-70208]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-28388]



Submission for OMB Review; Comment Request

November 19, 2012.
    The Department of the Treasury will submit the following 
information collection request to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, Public Law 104-13, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before December 24, 2012 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestion for reducing 
the burden, to (1) Office of Information and Regulatory Affairs, Office 
of Management and Budget, Attention: Desk Officer for Treasury, New 
Executive Office Building, Room 10235, Washington, DC 20503, or email 
at OIRA_Submission@OMB.EOP.GOV and (2) Treasury PRA Clearance Officer, 
1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or email 
at PRA@treasury.gov.

FOR FURTHER INFORMATION CONTACT: Copies of the submission(s) may be 
obtained by calling (202) 927-5331, email at PRA@treasury.gov, or the 
entire information collection request may be found at www.reginfo.gov.

Terrorism Risk Insurance Program

    OMB Number: 1505-0207.
    Type of Review: Revision of a currently approved collection.
    Title: Recoupment Provisions of the Terrorism Risk Insurance Act 
    Form: TRIP 04A & 04B.
    Abstract: Section 103(e) of the Terrorism Risk Insurance Act of 
2002 gives Treasury authority to recoup federal payments made under the 
Program through policyholder surcharges, up to a maximum annual limit. 
The Secretary is required to provide for insurers to collect these 
amounts and remit them to Treasury. In order to determine how and when 
to initiate the recoupment process Treasury will require information 
about industry aggregate total insured losses, insurer deductibles and 
reserves and may need to issue a ``data call'' to supplement existing 
industry reporting. If recoupment is initiated, insurers will be 
required to report and remit the Federal Terrorism Policy Surcharge. 
Treasury will require access to all books, documents, papers and 
records of an insurer that are pertinent to the Surcharge for the 
purpose of investigation, confirmation, audit and examination. The 
record keeping and reporting requirements will arise only after 
Treasury has initiated the recoupment process.
    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 121,000.

    OMB Number: 1505-0208.
    Type of Review: Extension without change of a currently approved 
    Title: Terrorism Risk Insurance Program Cap on Annual Liability.
    Form: TRIP 05.
    Abstract: Section 103 of the Terrorism Risk Insurance Act of 2002 
(the Act), as amended by the Reauthorization Act, sets a limit on the 
annual liability for insured losses at $100 billion. This section 
requires the Secretary of the Treasury to notify Congress not later 
than 15 days after the date of an act of terrorism as to whether 
aggregate insured losses are estimated to exceed the cap. The Act, as 
amended, also requires the Secretary to determine the pro rata share of 
insured losses under the Program when insured losses exceed the cap, 
and to issue regulations for carrying this out. In order to meet these 
requirements, Treasury may need to obtain loss information from 
involved insurers. This would be accomplished by the issuance of a 
``data call'' to ascertain insurer losses. In the event of the 
imposition on insurers of a ``pro rata loss percentage'', it will be 
necessary to determine compliance when processing insurer claims for 
payment of the Federal share of compensation.

[[Page 70208]]

    Affected Public: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 1,000.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2012-28388 Filed 11-21-12; 8:45 am]