Federal Register / Vol. 89, No. 228 / Tuesday, November 26, 2024 / Notices 93405 

Lisa M. Palluconi, 

Acting Director, Office of Foreign Assets 

Control. 

[FR Doc. 2024–27642 Filed 11–25–24; 8:45 am] 

BILLING CODE 4810–AL–C 

DEPARTMENT OF THE TREASURY 

Agency Information Collection 

Activities, Proposed Collection, and 

Comment Request; Terrorism Risk 

Insurance Program—Data Collection 

Forms 

AGENCY: Departmental Offices, U.S. 

Department of the Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Secretary of the Treasury 

(Secretary) administers the Terrorism 

Risk Insurance Program (TRIP or 

Program), including the issuance of 

regulations and procedures regarding 

the Program. The Federal Insurance 

Office (FIO) assists the Secretary in the 

administration of the Program. The 

Department of the Treasury (Treasury), 

as part of its continuing effort to reduce 

paperwork burdens, invites the general 

public and other Federal agencies to 

comment on approved information 

collections for annual data collection 

that are due for extension by the Office 

of Management and Budget (OMB) 

(currently approved under OMB 1505– 

0257). These forms will be utilized, 

beginning in calendar year 2025, in 

connection with both the federal and 

state annual data calls regarding 

terrorism risk insurance. State insurance 

regulators, through the National 

Association of Insurance Commissioners 

(NAIC), will separately address any 

comments sought or made in connection 

with the state data call. 

DATES: Submit comments on or before 

January 27, 2025. 


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person whose property and interests in property are blocked pursuant to 

E.O. 13224. 

4. GHANIMAT, Abd Al-Rahman Ismail Abd Al-Rahman (a.k.a. "GHANIMAT, 

Abd al Rahman"; a.k.a. "RANIMAT, Abd al Rahman"), Turkey; West Bank; 

Gaza; DOB 1972; citizen Palestinian; Gender Male; Secondary sanctions risk: 

section l(b) of Executive Order 13224, as amended by Executive Order 13886; 

National ID No. 975757147 (Palestinian) (individual) [SDGT] (Linked To: 

HAMAS). 

Designated pursuant to section l(a)(iii)(A) ofE.O. 13224, as amended, for having 

acted or purported to act for or on behalf of, directly or indirectly, HAMAS, a 

person whose property and interests in property are blocked pursuant to 

E.O. 13224. 

5. NAZZAL, Mohammad (a.k.a. NAZZAL, Muhammad; a.k.a. RAHMAN, 

Muhammad Essam Rizk Abdul), Damascus, Syria; Amman, Jordan; Karachi, 

Sindh, Pakistan; Doha, Qatar; DOB 1963; POB Amman, Jordan; Gender Male; 

Secondary sanctions risk: section 1 (b) of Executive Order 13224, as amended by 

Executive Order 13886; National ID No. 9631022654 (Jordan) (individual) 

[SDGT] (Linked To: HAMAS). 

Designated pursuant to section l(a)(iii)(A) ofE.O. 13224, as amended, for having 

acted or purported to act for or on behalf of, directly or indirectly, HAMAS, a 

person whose property and interests in property are blocked pursuant to 

E.O. 13224. 

6. AKARI, Musa Daud Muhammad, Turkey; DOB 1971; citizen Palestinian; Gender 

Male; Secondary sanctions risk: section 1 (b) of Executive Order 13224, as 

amended by Executive Order 13886; National ID No. 28191492 (Palestinian) 

(individual) [SDGT] (Linked To: HAMAS). 

Designated pursuant to section l(a)(iii)(A) ofE.O. 13224, as amended, for having 

acted or purported to act for or on behalf of, directly or indirectly, HAMAS, a 

person whose property and interests in property are blocked pursuant to 

E.O. 13224. 
93406 Federal Register / Vol. 89, No. 228 / Tuesday, November 26, 2024 / Notices 

1 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. 

2See 31 CFR part 50. 

3TRIA sec. 104(h). 

4 31 U.S.C. 313(c)(1)(D). 

5 81 FR 11649 (March 4, 2016). 

6A reporting exemption was extended to small 

insurers that wrote less than $10 million in TRIPeligible lines premiums in 2016. See 81 FR 95310 

(December 27, 2016); 82 FR 20420 (May 1, 2017). 

7 82 FR 20420 (May 1, 2017). 

8 83 FR 14718 (April 5, 2018). 9See 31 CFR 50.51(c). 

ADDRESSES: Submit comments 

electronically through the Federal 

eRulemaking Portal: https://

www.regulations.gov, within Docket No. 

TREAS–TRIP–2024–0016, or by mail to 

the Federal Insurance Office, Attn: 

Richard Ifft, Room 1410 MT, 

Department of the Treasury, 1500 

Pennsylvania Avenue NW, Washington, 

DC 20220. Because postal mail may be 

subject to processing delays, it is 

recommended that comments be 

submitted electronically. If submitting 

comments by mail, please submit an 

original version with two copies. 

Comments concerning the proposed 

data collection forms and collection 

process should be captioned with ‘‘TRIP 

Data Call Form Comments.’’ Please 

include your name, group affiliation, 

address, email address, and telephone 

number(s) in your comment. Where 

appropriate, a comment should include 

a short Executive Summary (no more 

than five single-spaced pages). 

FOR FURTHER INFORMATION CONTACT: 

Richard Ifft, Lead Management and 

Senior Insurance Policy Analyst, 

Terrorism Risk Insurance Program, 

Federal Insurance Office, Room 1410 

MT, Department of the Treasury, 1500 

Pennsylvania Avenue NW, Washington, 

DC 20220, at (202) 622–2922 (not a tollfree number), or Mallory Marchant, 

Policy Advisor, Federal Insurance 

Office, at (202) 622–4793 (not a toll-free 

number). 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 

The Terrorism Risk Insurance Act of 

2002, as amended (TRIA),1 established 

the Terrorism Risk Insurance Program 

(TRIP or Program).2 The Act establishes 

a temporary federal program of shared 

public and private compensation for 

insured commercial property and 

casualty losses resulting from an ‘‘act of 

terrorism,’’ as defined by TRIA. The Act 

requires the Secretary to perform 

periodic analyses of certain matters 

concerning the Program. In order to 

assist the Secretary with these analyses 

and administration of the Program, 

TRIA requires insurers to submit on an 

annual basis certain insurance data and 

information regarding their 

participation in the Program.3 FIO is 

authorized to assist the Secretary in the 

administration of the Program.4

Treasury began collecting data from 

insurers in 2016 on a voluntary basis,5

and on a mandatory basis beginning in 

2017.6 Treasury also arranged in 2017 

for workers’ compensation rating 

bureaus to provide most of the workers’ 

compensation insurance data elements.7

In 2018, Treasury and state insurance 

regulators (which also collect 

information on terrorism risk insurance 

in a separate data call) agreed on joint 

reporting templates substantially similar 

to those used by Treasury in prior 

years.8 The forms that are currently 

approved for use by Treasury, and 

which were utilized during the 2024 

TRIP Data Call, expire effective March 

31, 2025. 

Treasury seeks to continue to use the 

same forms for the next three-year 

period, subject to non-material 

modifications each year during the 

upcoming three-year period relating to 

the dates for which data is sought, the 

incorporation of any changes to relevant 

Program thresholds, and changes to the 

unique modeled loss question posed 

each year to estimate the potential 

impact upon the Program from 

hypothetical terrorism loss events. 

In accordance with TRIA, Treasury 

has evaluated whether publicly 

available sources can supply the 

information needed in the annual data 

call. Information relating to workers’ 

compensation exposures is available 

from the workers’ compensation rating 

bureaus, and Treasury will continue to 

coordinate with those entities to provide 

that information on behalf of 

participating insurers. Treasury has 

determined, however, that all other data 

components remain unavailable from 

other sources. Accordingly, Treasury 

will continue to request this remaining 

data and information directly from 

insurers. By continuing to collect 

information on a consolidated basis 

with state regulators, however, Treasury 

will achieve a significant reduction in 

overall data collection burdens for 

participating insurers. 

II. Data Collection Process 

Treasury expects the data collection 

process to remain the same while the 

proposed forms are in effect. Treasury 

again proposes to use four different data 

collection forms,9 depending upon the 

type of insurer involved. Insurers will 

fill out the form identified ‘‘Insurer 

(Non-Small) Groups or Companies,’’ 

unless the insurer meets the definition 

of a small insurer, captive insurer, or 

alien surplus lines insurer as set forth in 

31 CFR 50.4. Such small insurers, 

captive insurers, and alien surplus lines 

insurers are required to complete 

separate forms that are tailored for each 

type of entity. Separate instructions 

providing guidance on each requested 

data element accompany each form. 

There are reporting thresholds that 

affect what form a particular insurer 

needs to complete, or whether the 

insurer is subject to any reporting. 

Reporting insurers submit information 

to Treasury through a portal managed by 

a data aggregator retained by Treasury, 

as required by TRIA. State regulators 

require insurers to submit the same 

information for state purposes through a 

portal operated by New York State. 

Treasury will issue a Federal Register 

Notice each year identifying when the 

data collect portal is open to receive 

submissions, identifying any nonmaterial changes to the reporting forms 

and instructions, and providing further 

technical details respecting the 

reporting. To the extent Treasury 

determines to make any material 

changes to the existing data collection 

forms, it will provide public notice and 

opportunity to comment, incidental to 

an application for approval to OMB. 

III. Request for Comments 

Copies of the existing forms that 

Treasury seeks to renew and associated 

instructions are available for electronic 

review on the Treasury website at 

https://home.treasury.gov/policy-issues/ 

financial-markets-financial-institutionsand-fiscal-service/federal-insuranceoffice/terrorism-risk-insurance-program/ 

annual-data-collection. Treasury is 

requesting public feedback on the 

content of these reporting forms. 

IV. Procedural Requirements 

Paperwork Reduction Act. Comments 

submitted in response to this notice will 

be summarized and included in the 

request for Office of Management and 

Budget approval that will be submitted 

for review under the requirements of the 

Paperwork Reduction Act, 44 U.S.C. 

3507(d). Comments should be sent to 

Treasury in the form discussed in the 

ADDRESSES section of this notice. 

Comments on the collection of 

information should be received by 

January 27, 2025. 


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Federal Register / Vol. 89, No. 228 / Tuesday, November 26, 2024 / Notices 93407 

10See Terrorism Risk Insurance Program 2022 

Data Call, 86 FR 64600, 64603 (November 18, 2021). 

The proportion of insurers completing the various 

worksheets within each category of form today 

remain roughly the same as Treasury calculated in 

2021, leading to no change in the number of hours 

burden estimates for each catetory of insurer. 

11Based on data from the Bureau of Labor 

Statistics, for Insurance Carriers and Related 

Activities, https://www.bls.gov/iag/tgs/iag524.

htm#earnings. The average wage rate for all 

insurance employees was $45.30 in August 2024, 

and the total benefit compensation in the 2nd 

Quarter of 2024 was 34.8%, which is a benefit 

multiplier of 1.533. Therefore, a fully loaded wage 

rate for insurance employees is $69.45, or $45.30 × 

1.533. 

Comments are being sought with 

respect to the collection of information 

in the proposed annual TRIP Data Call. 

Treasury specifically invites comments 

on: (a) Whether the proposed collection 

is responsive to the statutory 

requirement; (b) the accuracy of the 

estimate of the burden of the collections 

of information (see below); (c) ways to 

enhance the quality, utility, and clarity 

of the information collection; (d) ways 

to use 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 maintain the information. 

The information sought by Treasury 

comprises data elements that insurers 

currently collect or generate, although 

not necessarily grouped together the 

way in which insurers currently collect 

and evaluate the data. Based upon 

insurer submissions to the 2024 TRIP 

Data Call, Treasury estimates that for 

purposes of future annual TRIP Data 

Calls, approximately 90 Program 

participants will be required to submit 

the ‘‘Insurer (Non-Small) Groups or 

Companies’’ data collection form, 200 

Program participants will be required to 

submit the ‘‘Small Insurer’’ form, 625 

Program participants will be required to 

submit the ‘‘Captive Insurer’’ form, and 

100 Program participants will be 

required to submit the ‘‘Alien Surplus 

Lines Insurers’’ form. 

Treasury has previously analyzed the 

potential burdens associated with 

completing the annual TRIP Data Call 

forms.10 Treasury expects each set of 

reporting templates to incur a different 

level of burden, based upon the 

different components contained in each 

reporting template and the number of 

insurers within each that will need to 

respond to each worksheet. Based upon 

its prior estimates, Treasury anticipates 

that approximately 90 hours will be 

required on average to collect, process, 

and report the data for each non-small 

insurer. For each small insurer, 

approximately 32 hours will be required 

to collect, process, and report data. 

Approximately 52 hours will be 

required to collect, process, and report 

data for each captive insurer. Finally, 

approximately 57 hours will be required 

to collect, process, and report data for 

each alien surplus lines insurer. 

Assuming this breakdown, and when 

applied to the number of estimated 

reporting insurers, the estimated annual 

burden would be 52,700 hours ((90 nonsmall insurers × 90 hours) + (200 small 

insurers x 32 hours) + (625 captive 

insurers × 52 hours) + (100 alien surplus 

lines insurers × 57 hours)). At a 

blended, fully loaded hourly rate of 

$69.45,11 the cost would be $3,660,015 

across the industry as a whole, or 

$6,250.50 per non-small insurer, 

$2,222.40 per small insurer, $3,611.40 

per each captive insurer, and $3,958.65 

each per alien surplus lines insurer. 

Dated: November 20, 2024. 

Steven E. Seitz, 

Director, Federal Insurance Office. 

[FR Doc. 2024–27640 Filed 11–25–24; 8:45 am] 

BILLING CODE 4810–AK–P 

DEPARTMENT OF VETERANS 

AFFAIRS 

[OMB Control No. 2900–0501] 

Agency Information Collection Activity 

Under OMB Review: Veterans 

Mortgage Life Insurance Inquiry 

AGENCY: Veterans Benefits 

Administration, Department of Veterans 

Affairs. 

ACTION: Notice. 

SUMMARY: In compliance with the 

Paperwork Reduction Act (PRA) of 

1995, this notice announces that the 

Veterans Benefits Administration, 

Department of Veterans Affairs, will 

submit the collection of information 

abstracted below to the Office of 

Management and Budget (OMB) for 

review and comment. The PRA 

submission describes the nature of the 

information collection and its expected 

cost and burden, and it includes the 

actual data collection instrument. 

DATES: Comments and 

recommendations for the proposed 

information collection should be sent by 

December 26, 2024. 

ADDRESSES: To submit comments and 

recommendations for the proposed 

information collection, please type the 

following link into your browser: 

www.reginfo.gov/public/do/PRAMain, 

select ‘‘Currently under Review—Open 

for Public Comments’’, then search the 

list for the information collection by 

Title or ‘‘OMB Control No. 2900–0501.’’ 

FOR FURTHER INFORMATION CONTACT: VA 

PRA information: Maribel Aponte, (202) 

461–8900, vacopaperworkreduact@

va.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Veterans Mortgage Life 

Insurance Inquiry (VA Form 29–0543). 

OMB Control Number: 2900–0501 

https://www.reginfo.gov/public/do/ 

PRASearch. 

Type of Review: Extension without 

change of a currently approved 

collection. 

Abstract: The Veterans Mortgage Life 

Insurance Inquiry solicits information 

needed from Veterans for the proper 

maintenance of Veterans Mortgage Life 

Insurance accounts. The form is 

authorized by 38 U.S.C. 2106 and 

38CFR 8a.3(e). 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to a collection of information 

unless it displays a currently valid OMB 

control number. The Federal Register 

Notice with a 60-day comment period 

soliciting comments on this collection 

of information was published at 89 FR 

72714, September 5, 2024. 

Affected Public: Individuals or 

Households. 

Estimated Annual Burden: 17. 

Estimated Average Burden per 

Respondent: 5 minutes. 

Frequency of Response: On occasion. 

Estimated Number of Respondents: 

200. 

Authority: 44 U.S.C. 3501 et seq. 

Maribel Aponte, 

VA PRA Clearance Officer, Office of 

Enterprise and Integration, Data Governance 

Analytics, Department of Veterans Affairs. 

[FR Doc. 2024–27600 Filed 11–25–24; 8:45 am] 

BILLING CODE 8320–01–P 


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