[Federal Register Volume 72, Number 47 (Monday, March 12, 2007)]
[Notices]
[Page 11087]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 07-1135]


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DEPARTMENT OF THE TREASURY


Terrorism Risk Insurance Program; Litigation Management 
Submissions

AGENCY: Departmental Offices, Terrorism Risk Insurance Program Office, 
Treasury.

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 and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Pub. L. 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the Terrorism Risk Insurance Program Office 
is seeking comments regarding Litigation Management Submissions.

DATES: Written comments should be received on or before May 11, 2007 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--Litigation Management 
Submissions''. 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 make 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: 1506-0196.
    Title: Terrorism Risk Insurance Program--Litigation Management 
Submissions.
    Form: Treasury TRIP-03.
    Abstract: Section 103(a) and 104 of the Terrorism Risk Insurance 
Act of 2002 (Pub. L. 107-297) authorize the Department of the Treasury 
to administer and implement the temporary Terrorism Risk Insurance 
Program established by the Act. Section 107 contains specific 
provisions designed to manage litigation arising out of or resulting 
from a certified act of terrorism. The Terrorism Risk Insurance 
Extension Act of 2005, Public Law 109-144, added section 107(a)(6) to 
TRIA, which provides that procedures and requirements established by 
the Secretary under 31 CFR 50.82, as in effect on the date of issuance 
of that section in final form [July 28, 2004], shall apply to any 
Federal cause of action described in section 107(a)(1).
    Section 50.82 of the regulations requires insurers to submit to 
Treasury for advance approval certain proposed settlements involving an 
insured loss, any part of the payment of which the insurer intends to 
submit as part of its claim for Federal payment under the Program. The 
collection of information in the notice of proposed settlement in 
Section 50.83 that insurers must submit to implement the settlement 
approval process prescribed by Section 50.82.
    Type of Review: Extension of currently approved collection.
    Affected Public: Business or other for-profit, Federal Government.
    Estimated Number of Respondents: 100
    Estimated Time per Respondent: 12.86 hours.
    Estimated Total Annual Burden Hours: 5,141 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 to 
be collected; (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: March 6, 2007.
Jeffrey S. Bragg,
Director, Terrorism Risk Insurance Program.
[FR Doc. 07-1135 Filed 3-9-07; 8:45 am]
BILLING CODE 4811-42-M