83160 Federal Register / Vol. 85, No. 245 / Monday, December 21, 2020 / Notices 

4See TRIA, sec. 103(e)(7); see also 31 CFR part 

50 subpart J (Recoupment and Surcharge 

Procedures). 

5 In 2015, the IMARA was $29.5 billion; it 

increased to $31.5 billion in 2016, $33.5 billion in 

2017, $35.5 billion in 2018, and $37.5 billion in 

2019. See TRIA, sec. 103(e)(6)(B). 

6TRIA, sec. 103(e)(6)(B)(ii) and (e)(6)(C). An 

insurer’s deductible under the Program for any 

particular year is 20 percent of its direct earned 

premium subject to the Program during the 

preceding year. TRIA, sec. 102(7). For example, an 

insurer’s calendar year 2020 Program deductible is 

20 percent of its calendar year 2019 direct earned 

premium. 

7 84 FR 62450 (November 15, 2019) (Final Rule). 

On December 18, 2019, Treasury issued a notice 

that the IMARA calculation for calendar year 2020 

was $40,878,630,900. 84 FR 69462 (December 18, 

2019). 

8FIO, Report on the Effectiveness of the 

Terrorism Risk Insurance Program (June 2020) 

(2020 Effectiveness Report), 11 (Figure 1), https:// 

home.treasury.gov/system/files/311/2020-TRIPEffectiveness-Report.pdf. 

9The figures from the 2019 and 2018 TRIP data 

calls (some figures may not add up on account of 

rounding) were previously reported in the IMARA 

calculation for calendar year 2020. See 84 FR 69462 

(December 18, 2019). Figures from the 2020 TRIP 

data call were previously reported in FIO’s June 

2020 Effectiveness Report, as available at that time 

and rounded. 2020 Effectiveness Report, 11 (Figure 

1). The figures from the 2020 TRIP data call as 

originally reported in June 2020 have been updated 

to include data received by FIO after the reporting 

deadline. 

10See note 6. 

Program. Under the Act, if total annual 

payments by all participating insurers 

are below the IMARA, then Treasury 

must recoup all amounts expended by it 

up to the IMARA threshold. If total 

annual payments by all participating 

insurers are above the IMARA, then 

Treasury has discretionary authority 

(but not the obligation) to recoup all of 

the expended amounts that are above 

the IMARA threshold.4

TRIA provides for a schedule of 

defined IMARA values for calendar year 

2015 through calendar year 2019.5 For 

calendar year 2020 and beyond, TRIA 

states that the IMARA ‘‘shall be revised 

to be the amount equal to the annual 

average of the sum of insurer 

deductibles for all insurers participating 

in the Program for the prior 3 calendar 

years,’’ as such sum is determined 

pursuant to final rules issued by the 

Secretary.6

On November 15, 2019, Treasury 

issued a final rule for calculation of the 

IMARA.7 This rule, which is codified at 

31 CFR 50.4(m)(2), provides that the 

IMARA will be calculated by averaging 

the annual industry aggregate 

deductibles over the prior three 

calendar years, based upon the direct 

earned premium (DEP) reported to 

Treasury by insurers in Treasury’s 

annual data calls. Insurer deductibles 

under the Program are based upon the 

DEP of individual insurers reported to 

Treasury in the prior year (e.g., 2018 

DEP for 2019 calendar year). 

Accordingly, for purposes of 

determining the IMARA for calendar 

2021, Treasury has averaged the 

aggregate insurer deductibles for 

calendar years 2020, 2019, and 2018 (as 

reported to Treasury in each of these 

years), which are based on the reported 

DEP for calendar years 2019, 2018, and 

2017, respectively. 

FIO’s 2020 Report on the 

Effectiveness of the Terrorism Risk 

Insurance Program 8 identified the DEP 

amounts participating insurers reported 

to Treasury in the TRIP-eligible lines of 

insurance in the 2018, 2019, and 2020 

TRIP data calls. For purposes of the 

2021 IMARA calculation, those figures 

are as follows: 

TRIP-ELIGIBLE DEP BY INSURER CATEGORY 9

2018 TRIP data call 2019 TRIP data call 2020 TRIP data call 

2017 DEP in 

TRIP-eligible 

lines 

% of 

Total 

2018 DEP in 

TRIP-eligible 

lines 

% of 

Total 

2019 DEP in 

TRIP-eligible 

lines 

% of 

Total 

Alien Surplus Lines Ins. ............................................ $9,492,933,571 5 $7,618,548,358 4 $11,149,972,542 5 

Captive Insurers ........................................................ 9,052,630,571 4 8,937,119,082 4 9,083,384,310 4 

Non-Small Insurers ................................................... 163,891,791,592 80 166,188,192,378 81 172,970,757,331 80 

Small Insurers ........................................................... 21,806,195,201 11 22,516,178,612 11 22,882,139,290 11 

Total ................................................................... 204,243,550,936 100 205,260,038,430 100 216,086,253,473 100 

Source: 2018–2020 TRIP Data Calls. 

Treasury has used these reported 

premiums to calculate the IMARA for 

calendar year 2021. The average annual 

DEP figure for the combined period of 

2017, 2018, and 2019 is 

$208,529,947,613 [($204,243,550,936 + 

$205,260,038,430 + $216,086,253,473)/3 

= $208,529,947,613]. The average 

aggregate deductible for the prior three 

years is 20 percent of $208,529,947,613, 

which equals $41,705,989,523.10

Accordingly, the IMARA for purposes of 

calendar year 2021 is $41,705,989,523. 

Dated: December 15, 2020. 

Steven E. Seitz, 

Director, Federal Insurance Office. 

[FR Doc. 2020–27996 Filed 12–18–20; 8:45 am] 

BILLING CODE 4810–25–P 

DEPARTMENT OF THE TREASURY 

United States Mint 

Establish Pricing for 2020 United 

States Mint Numismatic Product 

AGENCY: United States Mint, Department 

of the Treasury. 

ACTION: Notice. 

SUMMARY: The United States Mint is 

announcing pricing for the new United 

States Mint numismatic product in 

accordance with the table below: 

Product 2020 retail 

price 

Presidential $1 Coin & First 

Spouse Medal SetTMGeorge H.W. Bush and 

Barbara Bush .................... $25.00 

FOR FURTHER INFORMATION CONTACT: 

Angela Hicks, Marketing Specialist, 

Sales and Marketing; United States 

Mint; 801 9th Street, NW; Washington, 

DC 20220; or call 202–354–7750. 

Authority: 31 U.S.C. 5111, 5112, & 9701. 

Eric Anderson, 

Executive Secretary, United States Mint. 

[FR Doc. 2020–28051 Filed 12–18–20; 8:45 am] 

BILLING CODE 4810–37–P