[Federal Register Volume 75, Number 103 (Friday, May 28, 2010)]
[Notices]
[Pages 30106-30107]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-12839]
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DEPARTMENT OF THE TREASURY
Terrorism Risk Insurance Program; Recordkeeping Requirements for
Insurers Compensated Under the Program
AGENCY: Departmental Offices.
ACTION: Notice and request for comments.
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SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork burdens, invites the general public and
other Federal agencies to comment on a currently approved information
collection that is
[[Page 30107]]
due for extension approval by the Office of Management and Budget. The
Terrorism Risk Insurance Program Office within the Department of the
Treasury is soliciting comments concerning the Recordkeeping
Requirements set forth in 31 CFR part 50, subpart (Sec. 50.50-50.55)
DATES: Written comments should be received on or before July 27, 2010
to be assured of consideration.
ADDRESSES: Submit comments by e-mail to [email protected] or by
mail (if hard copy, preferably an original and two copies) to:
Terrorism Risk Insurance Program, Public Comment Record, Suite 2100,
Department of the Treasury, 1425 New York Ave., NW., Washington, DC
20220. Because paper mail in the Washington DC area may be subject to
delay, it is recommended that comments be submitted electronically. All
comments should be captioned with ``PRA Comments--Recordkeeping
Requirements for Insurers Compensated Under the Program''. Please
include your name, affiliation, address, e-mail address and telephone
number in your comment. Comments will be available for public
inspection by appointment only at the Reading Room of the Treasury
Library. To makes appointments, call (202) 622-0990 (not a toll-free
number).
FOR FURTHER INFORMATION CONTACT: Requests for additional information
should be directed to: Terrorism Risk Insurance Program Office at (202)
622-6770 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
OMB Number: 1505-0197.
Title: Terrorism Risk Insurance Program--Recordkeeping Requirements
for Insurers Compensated Under the Program.
Abstract: Sections 103(a) and 104 of the Terrorism Risk Insurance
Act of 2002 (Pub. L. 107-297) (as extended by the Terrorism Risk
Insurance Extension Act of 2005 (Pub.L. 109-144) and the Terrorism Risk
Insurance Program Reauthorization Act of 2007 (Pub.L. 110-160)
authorize the Department of the Treasury to administer and implement
the Terrorism Risk Insurance Program established by the Act. In 31 CFR
part 50, subpart F (Sec. 50.50-50.55) Treasury established requirements
and procedures for insurers that file claims for payment of the Federal
share of compensation for insured losses resulting from a certified act
of Terrorism under the Act. Section 50.60 allows Treasury access to
records of an insurer pertinent to the amounts paid as the Federal
share of compensation for insured losses in order to conduct
investigations, confirmations and audits. Section 50.61 requires
insurers to retain all records as are necessary to fully disclose all
material matters pertaining to insured losses. This collection of
information is the record keeping requirement in Sec. 50.61.
Type of Review: Extension of a currently approved data collection
Affected Public: Business or other for-profit, Federal Government.
Estimated Number of Respondents: 100
Estimated Average Time per Respondent: 8.3 hours.
Estimated Total Annual Burden Hours: 833 hours.
Request for Comments.: An agency may not conduct or sponsor, and a
person is not required to respond to, a collection of information
unless the collection of information displays a valid OMB control
number. Comments submitted in response to this notice will be
summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments are invited
on: (a) Whether the collection of information is necessary for the
proper performance of the functions of the agency, including whether
the information shall have practical utility; (b) the accuracy of the
agency's estimate of the burden of the collection of information; (c)
ways to enhance the quality, utility, and clarity of the information
collections; (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: May 18, 2010.
Jeffrey S. Bragg,
Director, Terrorism Risk Insurance Program.
[FR Doc. 2010-12839 Filed 5-27-10; 8:45 am]
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