[Federal Register Volume 78, Number 204 (Tuesday, October 22, 2013)]
[Notices]
[Page 62941]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-24638]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

October 17, 2013.
    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 November 21, 2013 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 [email protected] and (2) Treasury PRA Clearance Officer, 
1750 Pennsylvania Ave. NW., Suite 8140, Washington, DC 20220, or email 
at [email protected].

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

Terrorism Risk Insurance Program (TRIP)

    OMB Number: 1505-0196.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: Litigation Management--Information Collection Regarding 
Proposed Settlements.
    Form: TRIP 03.
    Abstract: Section 103(a) and 104 of the Terrorism Risk Insurance 
Act (TRIA) 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 Sec.  107(a)(6) to 
TRIA, which provides that procedures and requirements established by 
the Secretary under 31 CFR 50.82 and 50.83, 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. Section 50.83 
of the regulations describes the form and content that insurers must 
submit to implement the settlement approval process prescribed by Sec.  
50.82.
    Affected public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 5,141.
    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 Title 
31 CFR part 50, subpart F (Sec. 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.
    Affected public: Private Sector: Businesses or other for-profits.
    Estimated Annual Burden Hours: 833.

Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2013-24638 Filed 10-21-13; 8:45 am]
BILLING CODE 4810-25-P