Federal Register / Vol. 87, No. 61 / Wednesday, March 30, 2022 / Notices 18473 

1Public 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. 

2Terrorism Risk Insurance Program 2022 Data 

Call, 86 FR 64600 (November 18, 2021) (identifying 

proposed changes to 2022 TRIP Data Call). 

3TRIA section 108(h). 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

Books or records relating to a collection 

of information must be retained as long 

as their contents may become material 

in the administration of any internal 

revenue law. Generally, tax returns and 

tax return information are confidential, 

as required by 26 U.S.C. 6103. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for OMB approval. Comments 

will be of public record. Comments are 

invited on: (a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information has practical utility; (b) the 

accuracy of the agency’s estimate of the 

burden of the collection of information; 

(c) ways to enhance the quality, utility, 

and clarity of the information to be 

collected; (d) ways to minimize the 

burden of the collection of information 

on 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 provide information. 

Approved: March 23, 2022. 

Martha R. Brinson, 

Tax Analyst. 

[FR Doc. 2022–06624 Filed 3–29–22; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

2022 Report on the Effectiveness of 

the Terrorism Risk Insurance Program 

AGENCY: Departmental Offices, 

Department of the Treasury. 

ACTION: Request for comment. 

SUMMARY: The Terrorism Risk Insurance 

Act of 2002, as amended (TRIA), 

established the Terrorism Risk 

Insurance Program (TRIP or Program). 

TRIA requires the Secretary of the 

Treasury (Secretary) to submit a report 

to Congress by June 30, 2022 

concerning, in general, the overall 

effectiveness of TRIP. To assist the 

Secretary in formulating the report, the 

Federal Insurance Office (FIO) within 

the Department of the Treasury 

(Treasury) is seeking comments from the 

insurance sector and other stakeholders 

on the statutory factors to be analyzed 

in the report, as well as feedback on 

other issues relating to the effectiveness 

of TRIP. 

DATES: Submit comments on or before 

May 16, 2022. 

ADDRESSES: Submit comments 

electronically through the Federal 

eRulemaking Portal at http://

www.regulations.gov, in accordance 

with the instructions on that site, 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 2022 report 

on the effectiveness of the Terrorism 

Risk Insurance Program should be 

captioned with ‘‘2022 TRIP 

Effectiveness Report.’’ In general, 

Treasury will post all comments to 

www.regulations.gov without change, 

including any business or personal 

information provided such as names, 

addresses, email addresses, or telephone 

numbers. All comments, including 

attachments and other supporting 

materials, are part of the public record 

and subject to public disclosure. You 

should submit only information that 

you wish to make available publicly. 

Where appropriate, a comment should 

include a short Executive Summary (no 

more than five single-spaced pages). 

Additional Instructions. Responses 

should also include: (1) The data or 

rationale, including examples, 

supporting any opinions or conclusions; 

and (2) any specific legislative, 

administrative, or regulatory proposals 

for carrying out recommended 

approaches or options. 

FOR FURTHER INFORMATION CONTACT: 

Richard Ifft, Senior Insurance 

Regulatory Policy Analyst, Federal 

Insurance Office, (202) 622–2922, 

Sherry Rowlett, Program Analyst, 

Federal Insurance Office, (202) 622– 

1890, Jeremiah 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 requires participating insurers 

to make insurance available for losses 

resulting from acts of terrorism and 

provides a federal government backstop 

for the insurers’ resulting financial 

exposure. TRIA established TRIP within 

Treasury, and TRIP is administered by 

the Secretary with the assistance of FIO. 

TRIA Section 104(h)(2) requires the 

Secretary to periodically prepare and 

submit a report to the Committee on 

Financial Services of the House of 

Representatives and the Committee on 

Banking, Housing, and Urban Affairs of 

the Senate on, among other things, the 

impact and effectiveness of TRIP 

(Effectiveness Report). TRIA was 

reauthorized in December 2019 with an 

additional requirement that Treasury’s 

Effectiveness Reports analyze the 

availability and affordability of 

terrorism risk insurance, including 

specifically for houses of worship. The 

Effectiveness Report that is to be 

submitted by June 30, 2022 will include 

an analysis of information that is being 

collected by Treasury through the 2022 

TRIP Data Call,2 as well as data that 

Treasury collected in prior TRIP Data 

Calls. Treasury’s data calls are 

conducted to obtain information to 

facilitate Treasury’s analysis of the 

effectiveness of TRIP and the 

competitiveness of small insurers in the 

terrorism risk insurance marketplace,3

as well as to assist Treasury more 

generally in the administration of TRIP. 

II. Solicitation for Comments 

Treasury seeks comments on each of 

the following factors, which Treasury is 

required under TRIA Section 104(h)(2) 

to consider in the Effectiveness Report: 

1. The overall effectiveness of TRIP; 

2. The availability and affordability of 

terrorism risk insurance, including 

specifically for places of worship; 

3. Any changes or trends relating to 

the data Treasury collects in its annual 

TRIP Data Calls, and the implications of 

such observations with regard to the 

effectiveness of TRIP; 

4. Whether any aspects of TRIP have 

the effect of discouraging or impeding 

insurers from providing one or more 

lines of commercial property and 

casualty insurance coverage or coverage 

for acts of terrorism; and 


khammond on DSKJM1Z7X2PROD with NOTICES
18474 Federal Register / Vol. 87, No. 61 / Wednesday, March 30, 2022 / Notices 

1ARPA, Public Law 117–2, sec. 3301, codified at 

12 U.S.C. 5701 et seq. SSBCI was originally 

established in Title III of the Small Business Jobs 

Act of 2010. 

5. Any impact of TRIP on workers’ 

compensation insurers in particular. 

This request for comment will 

provide stakeholders the opportunity to 

provide qualitative feedback and 

analysis that may not be otherwise 

observable through the results of the 

TRIP Data Calls. Information and views 

of stakeholders on the factors listed 

above will assist Treasury in the 

formulation of the Effectiveness Report 

and provide meaningful opportunity for 

stakeholder engagement. In addition, 

and more generally, such public input 

may assist the Secretary in the 

administration of TRIP. 

In addition to seeking comments on 

the above factors outlined in Section 

104(h)(2) of TRIA, Treasury understands 

that other issues and factors in the 

insurance market relating to terrorism 

risk insurance, in addition to those 

factors specified in TRIA, could have an 

impact on the effectiveness of the 

Program. Treasury accordingly also 

seeks comments on the following topics: 

General Questions 

1. Whether any lines of insurance or 

coverages within certain lines of 

insurance currently subject to the 

Program no longer require the support 

of TRIP to ensure the availability and 

affordability of terrorism risk insurance; 

2. Whether any lines of insurance or 

coverages within certain lines of 

insurance currently not subject to the 

Program should be included within 

TRIP to promote the availability and 

affordability of terrorism risk insurance; 

3. Whether, and in what fashion, 

insurance market changes associated 

with the impact of the COVID–19 

pandemic have also affected the market 

for terrorism risk insurance; 

4. The availability of terrorism risk 

insurance coverage for losses arising 

from nuclear, biological, chemical, or 

radiological (NBCR) exposures, and the 

availability of reinsurance or capital 

markets support for such terrorism risk 

insurance; 

Cyber-Related Questions 

5. The current state of the cyber 

insurance market, including the scope 

of coverage available, the availability 

and affordability of such coverage, and 

the effect of ransomware-related losses 

on the market; 

6. Terrorism risk insurance issues 

presented by cyber-related losses, and 

the impact of TRIP in connection with 

such exposures, including views on 

cyber-related terrorism losses that are 

included within TRIP and those losses 

outside of TRIP; 

7. Any potential changes to TRIA or 

TRIP that would encourage the take up 

of insurance for cyber-related losses 

arising from acts of terrorism as defined 

under TRIA, including but not limited 

to the modification of the lines of 

insurance covered by TRIP and 

revisions to the current sharing 

mechanisms for cyber-related losses; 

8. The availability of reinsurance or 

capital markets support for cyber-related 

losses arising from acts of terrorism as 

defined under TRIA; 

Other Questions 

9. The manner in which captive 

insurers access TRIP, including the 

extent to which coverage is provided on 

a standalone versus embedded basis, or 

for NBCR risks only, and the reasons 

behind such choices; 

10. The current status of terrorism risk 

modeling capabilities, and the use of 

those techniques in the placement of 

terrorism risk insurance; 

11. Given the increasing availability 

of more granular information than state 

or metropolitan level information (such 

as ZIP code level or geocoded 

information), please provide views on 

how FIO could leverage such 

information to further augment its 

analysis of the terrorism risk insurance 

market and TRIP, particularly since the 

immediate physical impact of 

individual terrorism-related events may 

be localized; and 

12. Any other issues relating to TRIP, 

terrorism risk insurance, or reinsurance 

that may be relevant to FIO’s assessment 

of the effectiveness of TRIP in the 

report. 

Steven E. Seitz, 

Director, Federal Insurance Office. 

[FR Doc. 2022–06681 Filed 3–29–22; 8:45 am] 

BILLING CODE 4810–AK–P 

DEPARTMENT OF THE TREASURY 

Agency Information Collection 

Activities; Proposed Collection; 

Comment Request; State Small 

Business Credit Initiative 

AGENCY: Departmental Offices, 

Department of the Treasury. 

ACTION: Notice. 

SUMMARY: The Department of the 

Treasury, as part of its continuing effort 

to reduce paperwork and respondent 

burden, invites the general public and 

other federal agencies to comment on 

the proposed information collections 

listed below, in accordance with the 

Paperwork Reduction Act of 1995. 

DATES: Written comments must be 

received on or before May 31, 2022. 

ADDRESSES: Send comments regarding 

the burden estimate, or any other aspect 

of the information collection, including 

suggestions for reducing the burden, by 

the following method: 

• Federal E-rulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

Refer to Docket Number TREAS–DO– 

2022–0009 and the specific Office of 

Management and Budget (OMB) control 

number 1505–0227. 

FOR FURTHER INFORMATION CONTACT: 

Jeffrey Stout, State Small Business 

Credit Initiative (SSBCI), at (866) 220– 

9050 or ssbci_information@treasury.gov. 

Further information may be obtained 

from the SSBCI website, https://

home.treasury.gov/policy-issues/smallbusiness-programs/state-small-businesscredit-initiative-ssbci, or by contacting 

ssbci_information@treasury.gov. 

SUPPLEMENTARY INFORMATION: 

Title: State Small Business Credit 

Initiative Information Collection 

Activities. 

OMB Control Number: 1505–0227. 

Type of Review: Revision of currently 

approved information collection 

activities. 

Description: This information 

collection captures information related 

to the State Small Business Credit 

Initiative (SSBCI). The American Rescue 

Plan Act of 2021 (ARPA) reauthorized 

and amended the Small Business Jobs 

Act of 2010 (SBJA) to provide $10 

billion to fund the SSBCI as a response 

to the economic effects of the COVID– 

19 pandemic.1 SSBCI is a federal 

program administered by the U.S. 

Department of the Treasury (Treasury) 

that was created to strengthen the 

programs of eligible jurisdictions (i.e., 

states, the District of Columbia, 

territories, Tribal governments) that 

support private financing for small 

businesses. 

• Capital Program Application. In 

order to determine the eligibility of 

jurisdictions to receive SSBCI funds for 

capital programs, Treasury must collect 

the following types of information in an 

application: Points of contact for the 

eligible jurisdiction and those 

administering the program; how the 

eligible jurisdiction plans to use the 

funds to provide access to capital for 

businesses in underserved communities; 

details on the eligible jurisdiction’s 

proposed capital programs; how the 

proposed capital programs comply with 

the SSBCI statute, regulations, and 

guidance; and the eligible jurisdiction’s 

compliance and oversight capabilities. 

Treasury will collect application 


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