[Federal Register Volume 89, Number 48 (Monday, March 11, 2024)]
[Notices]
[Pages 17372-17374]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-05057]
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DEPARTMENT OF AGRICULTURE
Federal Crop Insurance Corporation
[Docket No. FCIC-24-0002]
Notice of Request for Renewal and Revision of the Currently
Approved Information Collection
AGENCY: Federal Crop Insurance Corporation, USDA.
ACTION: Renewal and revision of the currently approved information
collection.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this
notice announces a public comment period on the information collection
requests (ICRs) associated with the Standard Reinsurance Agreement and
Appendices I, II and IV administered by Federal Crop Insurance
Corporation (FCIC). Appendix III is excluded because it contains the
Data Acceptance System requirements.
DATES: Written comments on this notice will be accepted until close of
business May 10, 2024.
ADDRESSES: We invite you to submit comments on this information
collection request. In your comments, include the date, volume, and
page number of this issue of the Federal Register, and the title of
rule. You may submit comments by any of the following methods, although
FCIC prefers that you submit comments
[[Page 17373]]
electronically through the Federal eRulemaking Portal:
Federal eRulemaking Portal: Go to http://www.regulations.gov and search for Docket ID FCIC-24-0002. Follow the
online instructions for submitting comments.
Mail: David L. Miller, Director, Reinsurance Services
Division, Federal Crop Insurance Corporation, United States Department
of Agriculture (USDA), 1400 Independence Avenue SW, Stop 0801,
Washington, DC 20250.
All comments received, including those received by mail, will be
posted without change to http://www.regulations.gov, including any
personal information provided, and can be accessed by the public. All
comments must include the agency name and docket number or Regulatory
Information Number (RIN) for this rule. For detailed instructions on
submitting comments and additional information, see http://www.regulations.gov. If you are submitting comments electronically
through the Federal eRulemaking Portal and want to attach a document,
we ask that it be in a text-based format. If you want to attach a
document that is a scanned Adobe PDF file, it must be scanned as text
and not as an image, thus allowing FCIC to search and copy certain
portions of your submissions. For questions regarding attaching a
document that is a scanned Adobe PDF file, please contact the RMA Web
Content Team at (816) 926-7953 or by email at [email protected].
Privacy Act: Anyone is able to search the electronic form of all
comments received for any dockets by the name of the individual
submitting the comment (or signing the comment, if submitted on behalf
of an association, business, labor union, etc.). You may review the
complete User Notice and Privacy Notice for Regulations.gov at https://www.regulations.gov/privacy-notice.
FOR FURTHER INFORMATION CONTACT: David L. Miller, Director, Risk
Management Agency, at the address listed above, telephone (202) 590-
8522 or [email protected].
SUPPLEMENTARY INFORMATION:
Title: Standard Reinsurance Agreement; Appendices I, II and IV.
OMB Number: 0563-0069.
Type of Request: Renewal and Revision of current Information
Collection.
Abstract: The Federal Crop Insurance Act (Act), title 7 U.S.C.
chapter 36, section 1508(k), authorizes the FCIC to provide reinsurance
to insurers approved by FCIC that insure producers of any agricultural
commodity under one or more plans acceptable to FCIC. The Act also
states that the reinsurance shall be provided on such terms and
conditions as the Board may determine to be consistent with subsections
(b) and (c) of this section and sound reinsurance principles.
FCIC executes the same form of reinsurance agreement, called the
Standard Reinsurance Agreement (SRA), with thirteen participating
insurers approved for the 2024 reinsurance year. Appendix I of the SRA,
Regulatory Duties and Responsibilities, sets forth the company's
responsibilities as required by statute. Appendix I includes: (a)
Conflict of Interest data collection, which in addition to the
insurance companies reinsured by FCIC, encompasses the insurance
companies' employees and their contracted agents and loss adjusters;
and (b) Controlled Business data collection from all employed or
contracted agents. Appendix II of the SRA, the Plan of Operations
(Plan), sets forth the information the insurer is required to file with
RMA for each reinsurance year they wish to participate. The Plan's
information enables RMA to evaluate the insurer's financial and
operational capability to deliver the crop insurance program in
accordance with the Act. Estimated premiums by fund by State, and
retained percentages along with current policyholders surplus are used
in calculations to determine whether to approve the insurer's requested
maximum reinsurable premium volume for the reinsurance year per 7 CFR
400 subpart L. This information has a direct effect upon the insurer's
amount of retained premium and associated liability and is required to
calculate the insurer's underwriting gain or loss.
Appendix IV of the SRA, Quality Control and Program Integrity,
establishes the minimum annual agent and loss adjuster training
requirements, and quality control review procedures and performance
standards required of the insurance companies. FCIC requires each
insurer to submit, for each reinsurance year, a Quality Control Report
to FCIC containing details of the results of their completed reviews.
The insurance companies must also provide an annual Training and
Performance Evaluation Report which details the evaluation of each
agent and loss adjuster and reports of any remedial actions taken by
the Company to correct any error or omission or ensure compliance with
the SRA. The submission of these reports is included in Appendix II.
FCIC is requesting the Office of Management and Budget (OMB) to
extend the approval of this information collection for an additional 3
years.
The purpose of this notice is to solicit comments from the public
concerning the continuation of the current information collection
activity as associated with the SRA in effect for the 2024 and
subsequent reinsurance years. These comments will help us:
(1) Evaluate whether the current collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information has practical utility;
(2) Evaluate the accuracy of the agency's estimate of the burden of
the current collection of information;
(3) Enhance the quality, utility, and clarity of the information
being collected; and
(4) Minimize the burden of the collection of information on those
who are to respond, through use, as appropriate, of automated,
electronic, mechanical, and other collection technologies, e.g.,
permitting electronic submission of responses.
The estimate below shows the burden that will be placed upon the
following affected entities.
Appendix I--Regulatory Duties and Responsibilities
Conflict of Interest
Estimate of Burden: The public reporting burden of employees,
agents and loss adjusters for the Appendix I collection of Conflict of
Interest information is estimated to average 1 hour per response.
Respondents/Affected Entities: Insurance company employees and
their contracted agents and loss adjusters.
Estimated annual number of respondents: 22,000.
Estimated annual number of responses per respondent: 1.
Estimated annual number of responses: 22,000.
Estimated total annual burden on respondents (hours): 22,000.
Estimate of Burden: The public reporting burden of the insurance
companies of the Appendix I collection of Conflict of Interest
information is estimated to average 32 hours per response.
Respondents/Affected Entities: Insurance companies reinsured by
FCIC.
Estimated annual number of respondents: 13.
Estimated annual number of responses per respondent: 1.
Estimated annual number of responses: 13.
Estimated total annual burden on respondents (hours): 416.
[[Page 17374]]
Controlled Business
Estimate of Burden: The public reporting burden of agents for the
Appendix I collection of Controlled Business information is estimated
to average 1 hour per response.
Respondents/Affected Entities: Insurance company agents.
Estimated annual number of respondents: 14,000.
Estimated annual number of responses per respondent: 1.
Estimated annual number of responses: 14,000.
Estimated total annual burden on respondents (hours): 14,000.
Estimate of Burden: The public reporting burden of the insurance
companies for the Appendix I collection of Controlled Business
information is estimated to average 32 hours per response.
Respondents/Affected Entities: Insurance companies reinsured by
FCIC.
Estimated annual number of respondents: 13.
Estimated annual number of responses per respondent: 1.
Estimated annual number of responses: 13.
Estimated total annual burden on respondents (hours): 416.
Appendix II--Plan of Operations
Estimate of Burden: The public reporting burden of the insurance
companies for the collection of Appendix II information is estimated to
average 128 hours per response.
Respondents/Affected Entities: Insurance companies reinsured by
FCIC.
Estimated annual number of respondents: 13.
Estimated annual number of responses per respondent: 1.
Estimated annual number of responses: 13.
Estimated total annual burden on respondents (hours): 1,664.
Appendix IV--Quality Control and Program Integrity
Quality Control and Training Plan and Report
Estimate of Burden: The public reporting burden of the insurance
companies for the collection of Appendix IV information is estimated to
average 74 hours per response.
Respondents/Affected Entities: Insurance companies reinsured by
FCIC.
Estimated annual number of respondents: 13.
Estimated annual number of responses per respondent: 1.
Estimated annual number of responses: 13.
Estimated total annual burden on respondents (hours): 962.
Agent Training Requirements
Estimate of Burden: The public reporting burden of agents the
Appendix IV training requirements is estimated to average 4 hours per
response.
Respondents/Affected Entities: Insurance company agents.
Estimated annual number of respondents: 14,000.
Estimated annual number of responses per respondent: 1.
Estimated annual number of responses: 14,000.
Estimated total annual burden on respondents (hours): 56,000.
Loss Adjuster Training Requirements
Estimate of Burden: The public reporting burden of loss adjusters
for the Appendix IV training requirements is estimated to average 17
hours per response.
Respondents/Affected Entities: Insurance company loss adjusters.
Estimated annual number of respondents: 6,000.
Estimated annual number of responses per respondent: 1.
Estimated annual number of responses: 6,000.
Estimated total annual burden on respondents (hours): 102,000.
All responses to this notice will be summarized and included in the
request for OMB approval. All comments will also become a matter of
public record.
Marcia Bunger,
Manager, Federal Crop Insurance Corporation.
[FR Doc. 2024-05057 Filed 3-8-24; 8:45 am]
BILLING CODE 3410-08-P