[Federal Register Volume 75, Number 150 (Thursday, August 5, 2010)]
[Notices]
[Pages 47345-47346]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-19318]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

July 30, 2010.
    The Department of the Treasury will submit the following public 
information collection requirements to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13 on or 
after the date of publication of this notice. A copy of the submissions 
may be obtained by calling the Treasury Bureau Clearance Officer 
listed. Comments regarding these information collections should be 
addressed to the OMB reviewer listed and to the Treasury PRA Clearance 
Officer, Department of the Treasury, 1750 Pennsylvania Avenue, NW., 
Suite 11010, Washington, DC 20220.

DATES: Written comments should be received on or before September 7, 
2010 to be assured of consideration.

Domestic Finance/Terrorism Risk Insurance Program (TRIP)

    OMB Number: 1505-0197.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Recordkeeping Requirements for Insurers Compensated Under 
Terrorism Risk Insurance 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 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 
recordkeeping requirement in Sec.  50.61.
    Respondents: Private Sector: Businesses or other for-profits.
    Estimated Total Burden Hours: 833 hours.
    OMB Number: 1505-0196.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Litigation Management--Information Collection Regarding 
Proposed Settlements.
    Form No.: 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.
    Respondents: Private Sector: Businesses or other for-profits.

[[Page 47346]]

    Estimated Total Burden Hours: 5,141 hours.
    DO Clearance Officer: Sara Clary, Domestic Finance (TRIP), 1425 New 
York Avenue, NW., Room 2101, Washington, DC 20220; (202) 622-7814.
    OMB Reviewer: Shagufta Ahmed, Office of Management and Budget, New 
Executive Office Building, Room 10235, Washington, DC 20503; (202) 395-
7873.

Celina Elphage,
Treasury PRA Clearance Officer.
[FR Doc. 2010-19318 Filed 8-4-10; 8:45 am]
BILLING CODE 4810-25-P