[Federal Register Volume 75, Number 103 (Friday, May 28, 2010)]
[Notices]
[Pages 30106-30107]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2010-12839]


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DEPARTMENT OF THE TREASURY


Terrorism Risk Insurance Program; Recordkeeping Requirements for 
Insurers Compensated Under the Program

AGENCY:  Departmental Offices.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork burdens, invites the general public and 
other Federal agencies to comment on a currently approved information 
collection that is

[[Page 30107]]

due for extension approval by the Office of Management and Budget. The 
Terrorism Risk Insurance Program Office within the Department of the 
Treasury is soliciting comments concerning the Recordkeeping 
Requirements set forth in 31 CFR part 50, subpart (Sec. 50.50-50.55)

DATES: Written comments should be received on or before July 27, 2010 
to be assured of consideration.

ADDRESSES: Submit comments by e-mail to <a href="/cdn-cgi/l/email-protection#dca8aeb5bdbfb3b1b1b9b2a8af9cb8b3f2a8aeb9bdaff2bbb3aa"><span class="__cf_email__" data-cfemail="e397918a82808c8e8e868d9790a3878ccd9791868290cd848c95">[email protected]</span></a> or by 
mail (if hard copy, preferably an original and two copies) to: 
Terrorism Risk Insurance Program, Public Comment Record, Suite 2100, 
Department of the Treasury, 1425 New York Ave., NW., Washington, DC 
20220. Because paper mail in the Washington DC area may be subject to 
delay, it is recommended that comments be submitted electronically. All 
comments should be captioned with ``PRA Comments--Recordkeeping 
Requirements for Insurers Compensated Under the Program''. Please 
include your name, affiliation, address, e-mail address and telephone 
number in your comment. Comments will be available for public 
inspection by appointment only at the Reading Room of the Treasury 
Library. To makes appointments, call (202) 622-0990 (not a toll-free 
number).

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to: Terrorism Risk Insurance Program Office at (202) 
622-6770 (not a toll-free number).

SUPPLEMENTARY INFORMATION: 
    OMB Number: 1505-0197.
    Title: Terrorism Risk Insurance Program--Recordkeeping Requirements 
for Insurers Compensated Under the Program.
    Abstract: Sections 103(a) and 104 of the Terrorism Risk Insurance 
Act of 2002 (Pub. L. 107-297) (as extended by the Terrorism Risk 
Insurance Extension Act of 2005 (Pub.L. 109-144) and the Terrorism Risk 
Insurance Program Reauthorization Act of 2007 (Pub.L. 110-160) 
authorize the Department of the Treasury to administer and implement 
the Terrorism Risk Insurance Program established by the Act. In 31 CFR 
part 50, subpart F (Sec. 50.50-50.55) Treasury established requirements 
and procedures for insurers that file claims for payment of the Federal 
share of compensation for insured losses resulting from a certified act 
of Terrorism under the Act. Section 50.60 allows Treasury access to 
records of an insurer pertinent to the amounts paid as the Federal 
share of compensation for insured losses in order to conduct 
investigations, confirmations and audits. Section 50.61 requires 
insurers to retain all records as are necessary to fully disclose all 
material matters pertaining to insured losses. This collection of 
information is the record keeping requirement in Sec. 50.61.
    Type of Review: Extension of a currently approved data collection
    Affected Public: Business or other for-profit, Federal Government.
    Estimated Number of Respondents: 100
    Estimated Average Time per Respondent: 8.3 hours.
    Estimated Total Annual Burden Hours: 833 hours.
     Request for Comments.: 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. Comments submitted in response to this notice will be 
summarized and/or included in the request for OMB approval. All 
comments will become a matter 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 shall have 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 
collections; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of 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 provide information.

    Dated: May 18, 2010.
Jeffrey S. Bragg,
Director, Terrorism Risk Insurance Program.
[FR Doc. 2010-12839 Filed 5-27-10; 8:45 am]
BILLING CODE P


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