[Federal Register Volume 77, Number 138 (Wednesday, July 18, 2012)]
[Notices]
[Pages 42364-42365]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-17455]


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DEPARTMENT OF THE TREASURY


Departmental Offices; Proposed Collection; Comment Request

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 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 Record Keeping Requirements set forth in 31 CFR part 50, subpart J 
(Sec. 50.94).

DATES: Written comments must be received on or before September 17, 
2012.

ADDRESSES: Submit comments by email 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--Program Cap on Annual 
Liability''. Please include your name, affiliation, address, email 
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: 1505-0208.
    Title: Terrorism Risk Insurance Program--Program Cap on Annual 
Liability.
    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. 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. This would be accomplished by nominal revision to the 
currently approved Treasury form TRIP 02C, ``Bordereau'' or ``Schedule 
C''. In 31 CFR part 50, subpart J (sec. 50.94).
    Type of Review: Extension of a currently approved data collection.
    Affected Public: Business/Financial Institutions.
    Estimated Number of Respondents: 200.
    Estimated Annual Time per Respondent: 5 hours.
    Estimated Total Annual Burden Hours: 1,000 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

[[Page 42365]]

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: July 11, 2012.
Jeffrey S. Bragg,
Director, Terrorism Risk Insurance Program.
[FR Doc. 2012-17455 Filed 7-17-12; 8:45 am]
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