[Federal Register Volume 87, Number 71 (Wednesday, April 13, 2022)]
[Notices]
[Pages 22026-22031]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-07861]


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DEPARTMENT OF THE TREASURY


2022 Terrorism Risk Insurance Program Data Call

AGENCY: Departmental Offices, Department of the Treasury.

ACTION: Data collection.

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SUMMARY: Pursuant to the Terrorism Risk Insurance Act of 2002, as 
amended (TRIA), insurers that participate in the Terrorism Risk 
Insurance Program (TRIP

[[Page 22027]]

or Program) are directed to submit information for the 2022 TRIP Data 
Call, which covers the reporting period from January 1, 2021 to 
December 31, 2021. Participating insurers are required to register and 
report information in a series of forms approved by the Office of 
Management and Budget (OMB). All insurers writing commercial property 
and casualty insurance in lines subject to TRIP, subject to certain 
exceptions identified in this notice, must respond to this data call no 
later than May 16, 2022.

DATES: Participating insurers must register and submit data no later 
than May 16, 2022.

ADDRESSES:  Participating insurers will register through a website that 
has been established for this data call. After registration, insurers 
will receive data collection forms through a secure file transfer 
portal, and they will submit the requested data through the same secure 
portal. Participating insurers can register for the 2022 TRIP Data Call 
at https://tripsection111data.com. Additional information about the 
data call, including sample data collection forms and instructions, can 
be found on the TRIP website at https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/terrorism-risk-insurance-program/annual-data-collection.

FOR FURTHER INFORMATION CONTACT: Richard Ifft, Senior Insurance 
Regulatory Policy Analyst, Federal Insurance Office, Room 1410, 
Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 
20220, (202) 622-2922; Sherry Rowlett, Program Analyst, Federal 
Insurance Office, Room 1410, Department of the Treasury, 1500 
Pennsylvania Avenue NW, Washington, DC 20220, (202) 622-1890; Jeremy 
Pam, Senior Insurance Regulatory Policy Analyst, Federal Insurance 
Office, (202) 622-7009; or Saurav Banerjee, Senior Insurance Regulatory 
Policy Analyst, Federal Insurance Office, (202) 622-5330. Persons who 
have difficulty hearing or speaking may access these numbers via TTY by 
calling the toll-free Federal Relay Service at (800) 877-8339.

SUPPLEMENTARY INFORMATION:

I. Background

    TRIA \1\ created the Program within the U.S. Department of the 
Treasury (Treasury) to address disruptions in the market for terrorism 
risk insurance, to help ensure the continued availability and 
affordability of commercial property and casualty insurance for 
terrorism risk, and to allow for the private market to stabilize and 
build insurance capacity to absorb any future losses for terrorism 
events. The Program has been reauthorized on a number of occasions, and 
was most recently extended until December 31, 2027.\2\ TRIA requires 
the Secretary of the Treasury (Secretary) to collect certain insurance 
data and information from insurers on an annual basis regarding their 
participation in the Program.\3\ TRIA also requires the Secretary to 
prepare a biennial report on the effectiveness of the Program 
(Effectiveness Report).\4\ The Effectiveness Report must be submitted 
to Congress by June 30, 2022. The Federal Insurance Office (FIO) is 
authorized to assist the Secretary in the administration of the 
Program,\5\ including conducting the annual data call and preparing 
reports and studies required under TRIA.
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    \1\ Public Law 107-297, 116 Stat. 2322, codified at 15 U.S.C. 
6701, note. Because the provisions of TRIA (as amended) appear in a 
note, instead of particular sections, of the United States Code, the 
provisions of TRIA are identified by the sections of the law.
    \2\ Terrorism Risk Insurance Program Reauthorization Act of 
2019, Public Law 116-94, 133 stat. 2534.
    \3\ TRIA, sec. 104(h)(1). Treasury regulations also address the 
annual data collection requirement. See 31 CFR 50.51, 50.54.
    \4\ TRIA, sec. 104(h)(2).
    \5\ 31 U.S.C. 313(c)(1)(D).
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    As discussed further below, there are certain changes to the data 
collection forms that are being used this year as compared to those 
that were used during the 2021 TRIP Data Call. FIO solicited public 
comment concerning these forms,\6\ and received a number of comments 
concerning the proposed changes. FIO's evaluation of those comments, 
and the steps it has taken in response to the comments, are addressed 
below. The forms were then submitted for approval to the Office of 
Management and Budget (OMB), pursuant to the requirements of the 
Paperwork Reduction Act. The data collection forms have now been 
approved for use by OMB under Control Number 1505-0257 for a period 
ending March 31, 2025.\7\
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    \6\ Terrorism Risk Insurance Program 2022 Data Call, 86 FR 64600 
(November 18, 2021).
    \7\ Office of Information and Regulatory Affairs, Office of 
Management & Budget, OMB Control No. 1505-0257, https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202202-1505-002.
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II. Elements of 2022 TRIP Data Call

    For purposes of the 2022 TRIP Data Call, FIO, state insurance 
regulators, and the National Association of Insurance Commissioners 
(NAIC) will again use the consolidated data call mechanism first 
developed for use in the 2018 TRIP Data Call. This approach relies on 
four joint reporting templates, to be completed by Small Insurers, Non-
Small Insurers, Captive Insurers, and Alien Surplus Lines Insurers, 
each as defined below. The use of joint reporting templates is designed 
to satisfy the objectives of both Treasury and state insurance 
regulators, while also reducing burden on participating insurers. State 
insurance regulators or the NAIC will provide separate notification 
regarding the reporting of information into the state reporting portal, 
including any reporting requirements to state insurance regulators that 
are distinct from the Treasury requirements. Insurers subject to the 
consolidated data call that are part of a group will report on a group 
basis, while those that are not part of a group will report on an 
individual company basis.

A. Changes to the 2021 Reporting Templates

    In November 2021, Treasury proposed a number of changes to the 
existing data collection templates for use in the 2022 TRIP Data Call; 
those changes related to the information sought specifically from 
captive insurers, as well as from any insurers writing cyber 
insurance.\8\ In its Notice, Treasury expressly sought comments 
concerning these proposed changes. In response to the Notice, Treasury 
received eight written comments.\9\ Those comments address issues 
concerning the manner and subject of the data collection. The 
suggestions made in those comments,

[[Page 22028]]

and Treasury's responses, are summarized below.
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    \8\ Terrorism Risk Insurance Program 2022 Data Call, 86 FR 64600 
(November 18, 2021).
    \9\ Seven comments were received in response to Treasury's 
November 2021 Notice, from the Centers for Better Insurance LLC 
(December 10, 2021) (CBI Comments), the Chaucer Group (January 18, 
2022) (Chaucer Comments), Underwriters at Lloyd's, London (January 
18, 2022) (Lloyd's Comments), the National Association of Mutual 
Insurance Companies (January 19, 2022) (NAMIC Comments), the 
American Property Casualty Insurance Association (January 19, 2022) 
(APCIA Comments), the National Risk Retention Association (January 
19, 2022) (NRRA Comments), and the Vermont Captive Insurance 
Association, the Captive Insurance Companies Association, and the 
Captive Insurance Council of the District of Columbia (consolidated 
submission) (January 19, 2022) (VCIA/CICA/CICDC Comments). These 
comments are available at https://www.regulations.gov/document/TREAS-TRIP-2021-0020-0001/comment. In addition, NAMIC submitted an 
additional comment letter dated March 9, 2022 in response to the 
separate Federal Register Notice (87 FR 8941 (February 16, 2022)) 
published by Treasury in connection with Paperwork Reduction Act 
requirements. That comment is available at https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202202-1505-002, and addresses the same 
issues as those identified in NAMIC's initial comment letter.
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Captive Insurer Reporting Comments
    One comment that addressed the proposed data collection revisions 
concerning captive insurers did not object to any of the captive 
insurer changes; rather, it suggested additional changes to require 
responding captive entities to specify their type of captive insurer 
(e.g., pure captive, protected cell captive, etc.).\10\ Because of the 
type of analysis Treasury performs with respect to the captive insurers 
in connection with the Program, such further detail would not assist in 
Treasury's evaluation of the exposure posed to the Program by captive 
insurers, and Treasury declines to make the further proposed changes. 
In addition, the commenter also proposed the addition of more granular 
questions than Treasury has proposed with regard to standalone coverage 
for nuclear, biological, chemical, and radiological (NBCR) terrorism 
risk versus conventional terrorism risk issued by captive insurers, as 
well as associated reinsurance.\11\ Treasury believes that the level of 
detail originally proposed will provide sufficient information 
regarding the use of captives to provide NBCR coverage. Therefore, 
Treasury declines to make the proposed changes. To the extent further 
analysis of the data obtained by Treasury suggests that additional 
changes are warranted, Treasury can address such changes at a later 
time.
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    \10\ CBI Comments at 3-4.
    \11\ Id. at 4-6.
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    Two comments received from captive insurer trade associations 
indicated that they do not oppose the changed reporting requirements 
(both those specific to captive insurers, as well as those addressing 
cyber insurance).\12\ However, each commenter noted the increasing 
burden they claim is imposed by the data collection requirements on 
captive insurers, cautioning that such burdens could become 
unsustainable for such entities. The commenters also stated that the 
data that will be produced by these entities in response to the data 
collection is highly confidential.\13\ Treasury is mindful of the 
burden imposed by data collection requirements and will continue to 
seek to minimize this burden as appropriate, consistent with its 
stewardship of the Program and reporting requirements to Congress. To 
that end, Treasury confirms (as requested by the commenters) that it 
will continue to excuse from reporting requirements captive insurers 
that do not write any terrorism risk insurance subject to the Program 
(whether on a standalone or embedded basis), and that it will continue 
to collect information through an outside data aggregator that provides 
the information to Treasury in an anonymized, aggregated format.
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    \12\ VCIA/CICA/CICDC Comments at 2; NRRA Comments at 1-2.
    \13\ Id.
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Cyber Insurance Reporting Comments
    Four additional comments were received that focused upon the 
proposed cyber insurance reporting changes--two from insurance trade 
associations,\14\ and two from or on behalf of companies or syndicates 
operating in the alien surplus lines insurance market.\15\ These 
comments raise the following issues, which Treasury summarizes--along 
with its responses--as follows:
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    \14\ NAMIC Comments; APCIA Comments.
    \15\ Chaucer Comments; Lloyd's Comments.
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    Two of the commenters questioned whether there has been sufficient 
coordination with state regulators for the newly-proposed data 
elements.\16\ Section 104(h)(4) of the Act states that Treasury shall 
coordinate with state regulators in advance ``to determine if the 
information to be collected is available from, and may be obtained in a 
timely manner by, individually or collectively, such entities.'' Among 
other things, Treasury reviewed existing state cyber insurance data 
calls and coordinated with the NAIC with regard to the newly-proposed 
data elements. Treasury has determined that the newly-proposed data 
elements (information by policyholder size (Cyber Worksheet, Lines 12-
17), cyber policy limits specific to cyber extortion and ransomware 
(Cyber Worksheet, Lines 21-24), and cyber-related loss payments 
specific to cyber extortion and ransomware (Cyber Worksheet, Lines 25-
30)) are not currently collected by state regulators or available from 
publicly-available sources. Treasury coordinated as required under 
Section 104(h)(4) of the Act respecting these newly-proposed data 
elements. Additionally, Treasury issued for public comment a notice 
describing the proposed changes for the TRIP data collection; no 
commenters suggested that the information sought by Treasury was 
available from publicly-available sources. Also, state regulators (who 
have not previously requested this information) will be using the same 
reporting templates as Treasury is authorized to use for the 2022 data 
call for purposes of the parallel state terrorism risk insurance 
collection that state regulators have conducted on a coordinated basis 
with Treasury since 2018. This collaborative approach to the TRIP data 
collection has resulted in significant efficiencies for reporting 
insurers.
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    \16\ Lloyd's Comments at 1; APCIA Comments at 1.
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    Two of the commenters raised questions as to whether the collection 
of information relating to cyber insurance written in non-Program 
eligible lines is within the scope of the Secretary's authority under 
the Act.\17\ These comments, if accepted, would curtail the Secretary's 
ability to determine the effectiveness of the Program, which is the 
purpose of data collection under Section 104(h) of the Act. While 
Treasury has determined that cyber risk insurance is within the scope 
of the Act if written in Program-eligible lines of insurance (see 31 
CFR 50.4(w)(1)), there is some cyber insurance that is written and 
reported as professional liability insurance, which is a line of 
business that, by statute, is not subject to the Program. Evaluating 
how this Program exclusion affects the Program's scope of coverage 
requires Treasury to understand how much cyber insurance is written 
outside of Program-eligible lines, which could inform Treasury and, by 
extension, Congress regarding the potential need to consider changes to 
Program regulations or the Act itself. Congress already indicated the 
need for evaluation of the Act's scope with regard to cyber insurance 
when it instructed the Government Accountability Office (GAO) in 
Section 502(d) of the 2019 TRIP Reauthorization Act (Pub. L. 116-94, 
133 Stat. 2534) to conduct a study that addresses, among other things, 
``recommendations on how Congress could amend the Terrorism Risk 
Insurance Act of 2002 (15 U.S.C. 6701 note) to meet the next generation 
of cyber threats.'' Treasury believes that the newly-proposed data 
elements are within the scope of the Secretary's authority to obtain 
information relating to the effectiveness of the Program, which 
encompasses the collection and analysis of data regarding this emerging 
threat.
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    \17\ Lloyds's Comments at 1; NAMIC Comments at 2; see also APCIA 
Comments at 1 (noting that ``Treasury is now proposing to collect 
non-terrorism cyber insurance data for the first time'').
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    Each of the four commenters indicated that not all insurers during 
the insurance placement process in calendar year 2021 were 
electronically gathering all of the newly-proposed data elements. These 
commenters also stated that they therefore would be unable to report 
such information by May 2022, at least not without a costly manual 
review

[[Page 22029]]

of files or, in some cases, by re-engaging with the policyholder to 
obtain the additional information. The comments from three of the 
commenters \18\ do not say or imply that all insurers would be 
presented with these issues, but only that some of them would face 
these issues. Similar questions were also raised by these commenters as 
to whether electronic systems could be updated in a timely fashion to 
allow for the electronic collection and reporting of the newly-proposed 
data elements. The fourth commenter also indicated that it had similar 
issues in terms of the collection of certain of the data elements, 
while noting that it had modified its policy administration systems to 
ensure that the newly-proposed data elements would be collected and 
available for reporting in 2023, in connection with calendar year 2022 
data.\19\ In view of these purported obstacles, all of the commenters 
requested that production of the newly-proposed data elements not be 
made mandatory for purposes of the 2022 data call (or even in some 
cases for purposes of the 2023 data call).
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    \18\ Lloyd's Comments at 1-2; NAMIC Comments at 2, 4-6; APCIA 
Comments at 1-2.
    \19\ Chaucer Comments at 1.
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    Treasury is mindful of the expense and burden \20\ posed for 
participating insurers by the Act's data collection requirements and 
has in the past taken steps to construct the data calls for the Program 
in such a way as to minimize that burden, to the greatest extent 
practicable consistent with the goals of this statutorily-mandated data 
collection. At the same time, Treasury is obligated under the Act to 
continue to assess the effectiveness of the Program, including whether 
there is available and affordable insurance in the market that could 
respond to an act of terrorism, which includes cyber insurance. 
Treasury will seek to balance the potential reporting difficulties 
identified by commenters against its mandate to collect information 
regarding cyber insurance by modifying its proposed instructions for 
purposes of the 2022 Program data call to confirm that insurers that 
are unable in good faith to report the newly-proposed data elements, 
because such information is currently unavailable, will not be 
penalized for failing to do so. All insurers that provide cyber 
insurance should continue to respond to the general premium and limits 
questions that have been posed in the prior collections and which have 
not changed. To the extent an insurer is able to report the newly-
proposed data elements, it should do so in the FY22 data call. A 
reporting insurer that has further questions as to how to provide the 
proposed information for the 2022 Data Call may also contact Treasury, 
so that the two parties can discuss how to most effectively achieve 
this balance. Treasury has modified the proposed instructions for the 
data call to reflect this approach.
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    \20\ Treasury addressed in its November 2021 notice proposing 
changes to the data call the estimated incremental burden associated 
with the proposed changes. See Terrorism Risk Insurance Program 2022 
Data Call, 86 FR 64600, 64603 (November 18, 2021). Treasury received 
one comment from a trade association indicting that ``some'' of its 
members advised that the Treasury estimate was ``significantly 
understated,'' with only one of the members providing a specific 
estimate that up to 30 hours of additional effort (instead of the 10 
estimated by Treasury) would be required to respond to the new cyber 
worksheet requirements. See APCIA Comments at 2. No other comments 
were received regarding the level of burden required. Although 
Treasury will not modify its burden estimate for the entire industry 
based upon this single comment, which may not be representative of 
the experience of responding insurers overall, it will monitor the 
issue during the 2022 Data Call and revise its estimates as 
necessary going forward based upon that experience. In addition, 
since some insurers (based upon the comments) may not be able to 
report such information this year, Treasury's estimates as set 
originally calculated in November 2021 may overstate the burden in 
this first year of the expanded collection.
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    Two commenters questioned the collection of certain data elements, 
namely, premium and number of policies information by policyholder 
size, measured by number of employees (in three specified categories) 
(Cyber Worksheet, Lines 12-17).\21\ The commenters questioned the 
availability of the information of policyholder size by number of 
employees (at least outside workers' compensation insurance lines, not 
relevant here), and whether it is an appropriate metric for evaluating 
the risk exposure presented to insurers under cyber insurance policies. 
While one of the commenters identified other potential metrics that 
might be used instead, such as premium volume or revenue, it ultimately 
concludes that none of these would be an appropriate metric to assess 
cyber risk either, at least on a stand-alone basis, and that as a 
result Treasury should not collect any information.\22\ However, 
Treasury is seeking the information by policyholder size classification 
not only to assess the risk exposure presented to insurers by these 
policies, but also to evaluate whether (or to what extent) certain 
categories of policyholders are taking up cyber risk insurance, and in 
what amounts, in order to evaluate the effectiveness of the Program. 
Number of employees is an accepted proxy for defining the size of 
entities for insurance purposes.\23\ The employee number categories 
utilized by Treasury are also consistent with the size categories used 
by the NAIC in its recent data calls for business interruption losses 
associated with COVID-19, in order to evaluate the scope of businesses 
that had actually availed themselves of business interruption coverage.
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    \21\ APCIA Comments at 2; NAMIC Comments at 4.
    \22\ APCIA Comments at 2.
    \23\ See GAO, Cyber Insurance: Insurers and Policyholders Face 
Challenges in an Evolving Market (GAO-21-477) (May 2021) at 6 n.12, 
https://www.gao.gov/assets/gao-21-477.pdf.
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    Finally, certain commenters addressed various interpretive issues 
concerning the questions posed by Treasury in the draft template. The 
newly-proposed data elements use the terminology typically used in 
state and NAIC data calls, such that reporting insurers should be 
familiar with the information Treasury is requesting. While Treasury 
believes that the language of the revised templates and associated 
instructions regarding these issues are clear, it will be available, as 
in past years, to respond to any interpretive questions as to specific 
data elements for specific insurers as the data call proceeds.
    As noted above, Treasury engaged with state insurance regulators 
and the NAIC with regard to these issues in order to avoid duplication 
of effort. State regulators also intend to rely upon these proposed 
reporting templates, including for the newly-proposed data elements 
that they have not previously collected, for the majority of the 
information that they collect from participating insurers.

B. Reporting of Workers' Compensation Information

    The TRIP Data Calls request certain information relating to 
workers' compensation insurance. For the 2022 TRIP Data Call, Treasury 
will again work with the National Council on Compensation Insurance 
(NCCI), the California Workers' Compensation Insurance Rating Bureau 
(California WCIRB), and the New York Compensation Insurance Rating 
Board (NYCIRB) to provide workers' compensation data relating to 
premium and payroll information on behalf of participating insurers, 
either directly or through other workers' compensation rating bureaus. 
The data aggregator used by Treasury will provide such insurers with 
reporting templates that do not require them to report this workers' 
compensation data. Reporting insurers that write only workers' 
compensation policies are still required to register for the 2022 TRIP 
Data Call and provide

[[Page 22030]]

general company information and data related to private reinsurance. 
The data received from NCCI, the California WCIRB, and the NYCIRB will 
be merged with the information provided by the insurers.

C. Reporting Templates

    Except for the changes discussed above relating to Captive Insurers 
in particular and for cyber insurance in general, there are no other 
material changes to the reporting templates used in the 2021 TRIP Data 
Call.\24\ Each category of insurer is required to complete the same 
worksheets that they completed in the 2021 TRIP Data Call. The same 
reporting exceptions apply this year as applied in the 2021 TRIP Data 
Call, as specified further below in the discussions for each category 
of insurer.
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    \24\ There is a new modeled loss scenario identified in the 
Reinsurance Worksheet that will be used in connection with the 
modeled loss questions (which have not changed from those posed in 
prior data collections). The modeled loss questions must be 
completed by non-small insurers, alien surplus lines insurers, and 
captive insurers. As in prior years, small insurers complete a 
separate Reinsurance Worksheet that does not contain modeled loss 
questions.
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    Various worksheets used in the 2022 TRIP Data Call seek certain 
information relating to workers' compensation insurance. NCCI, the 
California WCIRB, and the NYCIRB will complete the workers' 
compensation elements of these worksheets on behalf of reporting 
insurers. Further information concerning the reporting templates for 
each category of insurer, and the individual worksheets contained 
within each, can be found in the instructions for the reporting 
templates for each category of insurer. The individual reporting 
templates and worksheets will also be addressed in the training 
webinars discussed below.
    For the 2022 TRIP Data Call, an insurer will qualify as a Small 
Insurer if it had both 2020 policyholder surplus of less than $1 
billion and 2020 direct earned premiums in TRIP-eligible lines of 
insurance of less than $1 billion.\25\ Of this group, Small Insurers 
with TRIP-eligible direct earned premiums of less than $10 million in 
2021 will be exempt from the 2022 TRIP Data Call.\26\ Neither Captive 
Insurers nor Alien Surplus Lines Insurers are eligible for this 
reporting exemption. Insurers defined as Small Insurers for the 2022 
TRIP Data Call will report the same information to Treasury and to 
state insurance regulators (in each case on a group basis), except as 
state insurance regulators may separately direct for purposes of the 
state data call.
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    \25\ Small Insurers are defined in 31 CFR 50.4(z) as insurers 
(or an affiliated group of insurers) whose policyholder surplus for 
the immediately preceding year is less than five times the Program 
Trigger for the current year, and whose direct earned premiums in 
TRIP-eligible lines for the preceding year are also less than five 
times the Program Trigger for the current year. Accordingly, for the 
2022 TRIP Data Call (covering the 2021 calendar year), an insurer 
qualifies as a Small Insurer if its 2020 policyholder surplus and 
2020 direct earned premiums are less than five times the 2021 
Program Trigger of $200 million.
    \26\ Individual insurers with less than $10 million in direct 
earned premiums in TRIP-eligible lines that are part of a larger 
group must still report as part of the group as a whole if the 
group's direct earned premiums in these lines are over $10 million.
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    The Non-Small Insurer template will be completed by insurance 
groups (or individual insurers not affiliated with a group) that are 
not subject to reporting on the Captive Insurer or Alien Surplus Lines 
Insurer reporting templates, and had either a 2020 policyholder surplus 
of greater than $1 billion or 2020 direct earned premiums in TRIP-
eligible lines of insurance equal to or greater than $1 billion. 
Insurers defined as Non-Small Insurers for the 2022 TRIP Data Call will 
report the same information to Treasury and to state insurance 
regulators (in each case on a group basis), except as state insurance 
regulators may separately direct for purposes of the state data call.
    Captive Insurers are defined in 31 CFR 50.4(g) as insurers licensed 
under the captive insurance laws or regulations of any state. Captive 
Insurers that wrote policies in TRIP-eligible lines of insurance during 
the reporting period (January 1, 2021 to December 31, 2021) are 
required to register and submit data to Treasury, unless they did not 
provide their insureds with any terrorism risk insurance (either on 
standalone basis, or embedded in policies providing coverage for risks 
other than terrorism) subject to the Program.
    Alien Surplus Lines Insurers are defined in 31 CFR 50.4(o)(1)(i)(B) 
as insurers not licensed or admitted to engage in the business of 
providing primary or excess insurance in any state, but that are 
eligible surplus line insurers listed on the NAIC Quarterly Listing of 
Alien Insurers. Alien Surplus Lines Insurers that are part of a larger 
group classified as a Non-Small Insurer or a Small Insurer should 
report to Treasury as part of the group, using the appropriate 
template. Therefore, the Alien Surplus Lines Insurer template should be 
used only by an Alien Surplus Lines Insurer that is not part of a 
larger group subject to the 2022 TRIP Data Call.

D. Supplemental Reference Documents

    Treasury will continue to make available on the TRIP data 
collection website \27\ documents providing a complete ZIP code listing 
for areas subject to reporting on the Geographic Exposures (Nationwide) 
Worksheet, as well as several hypothetical policy reporting scenarios.
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    \27\ See https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/terrorism-risk-insurance-program/annual-data-collection.
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E. Training Webinars

    As in prior years, Treasury will hold four separate training 
sessions corresponding to the four reporting templates that will be 
used by insurers (Small Insurers, Non-Small Insurers, Captive Insurers, 
and Alien Surplus Lines Insurers). The webinars will be held on April 
20 and April 21, 2022 to assist reporting insurers in responding to the 
2022 TRIP Data Call, with each webinar focusing on a specific reporting 
template. Specific times and details concerning participation in the 
webinars will be made available on the TRIP data collection website, 
and recordings of each webinar will be made available on the website 
following each training session.

III. 2022 TRIP Data Call

    Treasury, through an insurance statistical aggregator, will accept 
group or insurer registration forms through https://tripsection111data.com. Registration is mandatory for all insurers 
participating in the 2022 TRIP Data Call. Upon registration, the 
aggregator will transmit individualized data collection forms (in Excel 
format) to the reporting group or insurer via a secure file transfer 
portal. The reporting group or insurer may transmit a complete data 
submission via the same portal using either the provided Excel forms or 
a .csv file.\28\
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    \28\ Specifications for submission of data using a .csv file 
will be provided to the insurer by the aggregator.
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    Copies of the instructions and data collection forms are available 
on Treasury's website in read-only format. Reporting insurers will 
obtain the fillable reporting forms directly from the data aggregator 
only after registering for the data collection process.
    Reporting insurers are required to register and submit complete 
data to Treasury no later than May 16, 2022.\29\ Because of the 
statutory reporting deadline for Treasury's 2022

[[Page 22031]]

Effectiveness Report to Congress, no extensions will be granted. 
Reporting insurers can ask the data aggregator questions about 
registration, form completion, and submission at 
[email protected]. Reporting insurers may also submit 
questions to the Treasury contacts listed above. Questions regarding 
submission of data to state insurance regulators should be directed to 
the appropriate state insurance regulator or the NAIC.
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    \29\ Under 31 CFR 50.51(a), data is to be provided to Treasury 
no later than May 15 in each calendar year; as May 15 falls on a 
Sunday in 2022, the due date is May 16, 2022.
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    All data submitted to the aggregator is subject to the 
confidentiality and data protection provisions of TRIA and the Program 
Rules, as well as to Section 552 of title 5, United States Code, 
including any exceptions thereunder. In accordance with the Paperwork 
Reduction Act (44 U.S.C. 3501-3521), the information collected through 
the web portal has been approved by OMB under Control Number 1505-0257. 
An agency may not conduct or sponsor, and a person is not required to 
respond to, a collection of information unless it displays a valid OMB 
control number.

Steven E. Seitz,
Director, Federal Insurance Office.
[FR Doc. 2022-07861 Filed 4-12-22; 8:45 am]
BILLING CODE 4810-AK-P