I
107TH CONGRESS
1ST SESSION
H. R. 3339
To provide for public access to information regarding the availability of
insurance for small businesses, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
NOVEMBER 19, 2001
Mr. GUTIERREZ (for himself, Mr. LAFALCE, Mr. FILNER, Mrs. JONES of
Ohio, Mr. DAVIS of Illinois, Mr. RUSH, Mr. LIPINSKI, Ms. CARSON of In-
diana, Mr. CLAY, Mr. MCGOVERN, Ms. SCHAKOWSKY, Mr. BLAGOJEVICH,
Mr. OWENS, and Mrs. CHRISTENSEN) introduced the following bill; which
was referred to the Committee on Financial Services, and in addition to
the Committee on Small Business, for a period to be subsequently deter-
mined by the Speaker, in each case for consideration of such provisions
as fall within the jurisidiction of the committee concerned
A BILL
To provide for public access to information regarding the
availability of insurance for small businesses, and for
other purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Small Business Insur-
ance Data Disclosure Act’’.
SEC. 2. FINDINGS AND PURPOSES.
(a) FINDINGS.—The Congress finds that—
(1) there are 25,500,000 small businesses in
the United States, representing more than 99 per-
cent of the employers in the Nation;
(2) small business employ 51 percent of the pri-
vate sector workforce and create more than 80 per-
cent of all new jobs in the United States;
(3) there were 612,400 new employer firms in
the United States in 2000, an increase of 4.3 per-
cent from 1999;
(4) small business bankruptcies decreased by
14.8 percent between 1999 and 2000 to the lowest
level in more than 20 years;
(5) the business failure index has decreased by
1.7 percent since 1999;
(6) small businesses are the most vulnerable
market sector in times of economic uncertainty or
downturn and experience difficulties with making
loan payments on existing debts, paying employees,
paying vendors, purchasing materials, supplies, and
inventory, paying rent, mortgage, insurance pre-
miums, and other operating expenses, and securing
financing for their businesses;
(7) there are disparities in the insurance cov-
erage provided by some insurers between areas hav-
ing different incomes and racial composition;
(8) such disparities in affordability and avail-
ability of insurance severely limit the ability of en-
trepreneurs to obtain credit for starting, growing, or
expanding small businesses; and
(9) the lack of affordable and adequate small
business insurance severely curtails the establish-
ment and growth of such businesses.
(b) PURPOSES.—The purposes of this Act are—
(1) to enhance the availability and affordability
of insurance products and services to all small busi-
nesses of all economic circumstances and in all geo-
graphic areas;
(2) to enhance the ability of insurance compa-
nies to meet the needs of all small businesses, in-
cluding small businesses located in underserved com-
munities and minority- and women-owned small
businesses;
(3) to establish a nationwide database for deter-
mining the availability, affordability, and adequacy
of insurance coverage for small businesses;
(4) to facilitate the enforcement of Federal and
State laws that prohibit illegally discriminatory in-
surance practices; and
(5) to determine whether the extent and charac-
teristics of small business insurance availability, af-
fordability, and coverage require public officials to
take any actions—
(A) to remedy redlining or other illegally
or unfairly discriminatory insurance practices;
or
(B) regarding areas underserved by insur-
ers, with respect to small business insurance.
SEC. 3. ESTABLISHMENT OF GENERAL REQUIREMENTS TO
SUBMIT SMALL BUSINESS INSURANCE INFOR-
MATION.
(a) IN GENERAL.—The Administrator of the Small
Business Administration shall, by regulation, establish re-
quirements for insurers to compile and submit information
to the Administrator for each annual reporting period, in
accordance with this Act.
(b) CONSULTATION.—In establishing the require-
ments for the submission of information under this Act,
the Administrator shall consult with Federal agencies hav-
ing appropriate expertise, the National Association of In-
surance Commissioners, State insurance regulators, statis-
tical agents, representatives of small businesses, rep-
resentatives of insurance agents (including minority insur-
ance agents), representatives of property and casualty in-
surers that provide insurance for small businesses, and
community, consumer, and civil rights organizations, as
appropriate.
(c) HEALTH AND LIFE INSURANCE LINES NOT IN-
CLUDED.—This Act shall not apply to life or health lines
of insurance or to insurers that provide only life or health
insurance products.
SEC. 4. REPORTING OF SMALL BUSINESS INSURANCE IN-
FORMATION.
(a) IN GENERAL.—The requirements established pur-
suant to section 3 to carry out this section shall—
(1) be designed to ensure that information is
submitted and compiled under this section as may be
necessary to permit analysis and comparison of the
availability and affordability of insurance coverage
and the quality or type of insurance coverage for
small businesses, by census tract (including low- and
moderate-income neighborhoods), location of the
small business, and the race and gender of small
business owners; and
(2) specify the data elements required to be re-
ported under this section and require uniformity in
the definitions of the data elements.
(b) INSURERS.—
(1) AGGREGATE
INFORMATION.—The regula-
tions issued under section 3 shall require that each
insurer for a designated line of insurance under sec-
tion 8(a)(1) shall compile and submit to the Admin-
istrator, for each annual reporting period—
(A) the total number of policies issued in
such line, total exposures covered by such poli-
cies, and total amount of premiums for such
policies, by designated line and by census tract,
including low- and moderate-income neighbor-
hoods, in which the insured risk is located;
(B) the total number of cancellations and
nonrenewals (expressed in terms of policies or
exposures, as determined by the Administrator),
by designated line and by census tract, includ-
ing low- and moderate-income neighborhoods, in
which the insured risk is located; and
(C) for such designated line of insurance,
information that will enable the Administrator
to assess the aggregate loss experience for the
insurer, by census tract, including low- and
moderate-income neighborhoods, in which the
insured risk is located.
(2) SPECIFICATION
OF
INFORMATION
FOR
ITEMIZED DISCLOSURE.—
(A) IN GENERAL.—The regulations issued
under section 3 regarding annual reporting re-
quirements for insurers for a designated line of
insurance under section 8(a)(1) shall, with re-
spect to policies issued under the designated
line or exposure units covered by such policies,
as determined by the Administrator—
(i) specify the data elements that shall
be submitted;
(ii) provide for the submission of in-
formation on an individual insurer basis;
(iii) provide for the submission of the
information with the least burden on insur-
ers, particularly small insurers, and insur-
ance agents;
(iv) take into account existing statis-
tical reporting systems in the insurance in-
dustry;
(v) require reporting by census tract,
including low- and moderate-income neigh-
borhoods, in which the insured risk is lo-
cated;
(vi) provide for the submission of in-
formation that—
(I) identifies the designated line,
and subline or coverage type; and
(II) 
where 
applicable, 
distin-
guishes between the type of policy
under each such subline or coverage
type that provides full replacement
cost and all other bases for computing
claims, such as actual cash value and
fair market value;
(vii) provide for the submission of in-
formation that distinguishes policies writ-
ten in a residual market from policies writ-
ten in the voluntary market;
(viii) specify—
(I) whether information shall be
submitted on the basis of policy or ex-
posure unit; and
(II) whether information, when
submitted, shall be aggregated by like
policyholders with like policies, except
that the Administrator shall not per-
mit such aggregation if it will ad-
versely affect the accuracy of the in-
formation reported;
(ix) in addition to reporting approvals,
provide for the submission of information
regarding the number of denials, cancella-
tions, and nonrenewals of policies under
the designated line by census tract in
which the insured risk is located, by race,
gender, and revenue size of the small busi-
ness policyholder, and by whether the pol-
icy was issued in a voluntary or residual
market; and
(x) provide for the submission of in-
formation on the racial characteristics,
gender, and revenue size of the small busi-
ness policyholders at the level of detail
comparable to that required by the Home
Mortgage Disclosure Act of 1975 (and the
regulations issued thereunder).
(B) RULES REGARDING OBTAINING RACIAL
INFORMATION.—
(i) WRITING REQUIREMENT.—The in-
formation specified in subparagraph (A)(x)
relating to the racial characteristics of ap-
plicants for, and policyholders of, insur-
ance shall be obtained only in accordance
with the procedures for requesting and re-
cording racial information established in
Regulation C of the Board of Governors of
the Federal Reserve System under the
Home Mortgage Disclosure Act of 1975, as
in effect on the date of the enactment of
this Act.
(ii) NOTICE OF VOLUNTARY NATURE
OF QUESTION.—Any such written question
shall clearly indicate that a response to the
question is voluntary on the part of the ap-
plicant or policyholder, but encouraged,
and that the information is being re-
quested by the Federal Government to
monitor the availability and affordability of
insurance.
(iii) PROVISION OF INFORMATION BY
AGENT OR INSURER.—If an applicant for,
or policyholder of, insurance declines to
provide such information, the agent or in-
surer for such insurance may provide such
information.
(3) RULE FOR REPORTING BY INSURERS.—An
insurer for a designated line shall submit informa-
tion required under paragraph (1) and information
required pursuant to paragraph (2), for risks in-
sured under such line that are located within each
census tract any part of which is located in a State
for which the insurer is offering the designated line.
SEC. 5. WAIVER OF REPORTING REQUIREMENTS.
(a) WAIVER FOR STATES COLLECTING EQUIVALENT
INFORMATION.—
(1) AUTHORITY.—Subject to the requirements
under this section, the Administrator shall provide,
by regulation, for the waiver of the applicability of
the provisions of section 4 for each insurer
transacting business within a State referred to in
paragraph (2), but only with respect to information
required to be submitted under such sections that
relates to insured risks located in the State.
(2) REQUIREMENTS.—The Administrator may
make a waiver pursuant to paragraph (1) only with
respect to a State that the Administrator determines
has in effect a law or other requirement that—
(A) requires insurers to submit to the
State information that is at least the same or
equivalent to the information that is required to
be submitted to the Administrator pursuant to
section 4;
(B) provides for adequate enforcement of
such law or other requirements; and
(C) provides for the same annual reporting
period used by the Administrator under this
Act and for submission of the information to
the Administrator in a timely fashion, as deter-
mined by the Administrator.
(3) DURATION.—A waiver pursuant to para-
graph (1) may remain in effect only during the pe-
riod for which the State law or other requirement re-
quired under paragraph (2) remains in effect.
(b) MULTIPLE-STATE AREAS.—In the case of any
census tract that contains area within—
(1) any State for which a waiver has been made
pursuant to subsection (a), and
(2) any State for which such a waiver has not
been made,
the provisions of this Act requiring submission of informa-
tion to the Administrator regarding such tract or area
shall be considered to apply only to the portion that is
located within the State for which such a waiver has not
been made.
(c) AUTHORITY FOR ADMINISTRATOR TO OBTAIN IN-
FORMATION DIRECTLY FROM INSURERS.—If the State for
which a waiver has been made pursuant to subsection (a)
does not submit to the Administrator the information re-
quired under subsection (a)(2)(A) or submits information
that is not complete, the Administrator shall require the
insurers transacting business within the State to submit
such information directly to the Administrator.
SEC. 6. SUBMISSION OF INFORMATION TO ADMINISTRATOR
AND MAINTENANCE OF INFORMATION.
(a) PERIOD OF MAINTENANCE.—Each insurer re-
quired by this Act to compile and submit information to
the Administrator shall maintain such information for the
3-year period beginning upon the conclusion of the annual
reporting period to which such information relates. The
Administrator shall maintain any information submitted
to the Administrator for such period as the Administrator
considers appropriate and feasible to carry out the pur-
poses of this Act and to allow for historical analysis and
comparison of the information.
(b) SUBMISSION.—The Administrator shall issue reg-
ulations prescribing a standard schedule (taking into con-
sideration the provisions of section 7(a)), format, and
method for submitting information under this Act to the
Administrator. The format and method of submitting the
information shall facilitate and encourage the submission
in a form readable by a computer. Any insurer submitting
information to the Administrator may submit in writing
to the Administrator any additional information or expla-
nations that the insurer considers relevant to the decision
by the insurer to sell insurance.
SEC. 7. AVAILABILITY AND ACCESS SYSTEM.
(a) AVAILABILITY TO PUBLIC.—
(1) IN
GENERAL.—The Administrator shall
maintain and make available to the public, in ac-
cordance with the requirements of this section, any
information submitted to the Administrator under
this Act and any information compiled by the Ad-
ministrator under this Act.
(2) TIMING.—The Administrator shall make
such information publicly available on a timetable
determined by the Administrator, but not later than
9 months after the conclusion of the annual report-
ing period to which the information relates, except
that such information shall not be made available to
the public until it is available in its entirety unless
not all the information required to be reported is
available by such date.
(b) PUBLIC ACCESS SYSTEM.—
(1) 
IMPLEMENTATION.—The 
Administrator
shall implement a system to facilitate access to any
information required to be made available to the
public under this Act.
(2) BASES OF AVAILABILITY.—The system shall
provide access in the following manners:
(A) ACCESS TO ITEMIZED INFORMATION.—
With respect to information submitted under by
insurers, on the basis of the insurer submitting
the information, on the basis of the census
tract, including low- and moderate-income
neighborhoods, and on any other basis the Ad-
ministrator considers feasible and appropriate.
(B) ACCESS
TO
AGGREGATE
INFORMA-
TION.—With respect to aggregate information
compiled by the Administrator, on the basis of
(i) the insurer submitting the information, and
(ii) the census tract, including low- and mod-
erate-income neighborhoods, and on any other
basis the Administrator considers feasible and
appropriate.
(c) PROTECTIONS
REGARDING
LOSS
INFORMA-
TION.—
(1) PROHIBITION OF DISCLOSURE OF LOSS IN-
FORMATION.—Notwithstanding any other provision
of this Act, the Administrator may not make avail-
able to the public or otherwise disclose any informa-
tion submitted under this Act regarding the amount
or number of claims paid by any insurer, the
amount of losses of any insurer, or the loss experi-
ence for any insurer, except (A) in the form of a loss
ratio (expressing the relationship of claims paid to
premiums) made available or disclosed in compliance
with the provisions of paragraph (2), or (B) as pro-
vided in paragraph (3).
(2) PROTECTION OF IDENTITY OF INSURER.—
In making available to the public or otherwise dis-
closing a loss ratio for an insurer—
(A) the Administrator may not identify the
insurer to which the loss ratio relates; and
(B) the Administrator may disclose the
loss ratio only in a manner that does not allow
any party to determine the identity of the spe-
cific insurer to which the loss ratio relates, ex-
cept parties having access to information under
paragraph (3).
(3) CONFIDENTIALITY
OF
INFORMATION
DIS-
CLOSED
TO
GOVERNMENTAL
AGENCIES.—The Ad-
ministrator may make information referred to in
paragraph (1) and the identity of the specific insurer
to which such information relates available to any
Federal entity and any State agency responsible for
regulating insurance in a State and may otherwise
disclose such information to any such entity or agen-
cy, but only to the extent such entity or agency
agrees not to make any such information available
or disclose such information to any other person.
SEC. 8. DESIGNATIONS.
(a) DESIGNATION OF LINES OF INSURANCE.—
(1) IN GENERAL.—The Administrator shall, by
regulation, designate as designated lines for pur-
poses of this Act any lines of insurance for small
businesses and any sublines and coverage types of
small business insurance that the Administrator con-
siders appropriate to determine and compare the
availability, affordability, and type of coverage in
such lines among applicable regions.
(2) REPORT.—At any time the Administrator
determines that any line of insurance for small busi-
nesses not described in paragraph (1) should be a
designated line because disparities in coverage pro-
vided under such line exist among geographic areas
having different income levels or racial composition,
the Administrator shall submit a report recom-
mending designating such line of insurance as a des-
ignated line for purposes of this Act to the Com-
mittee on Financial Services of the House of Rep-
resentatives and the appropriate committees of the
Senate.
(3) DURATION.—
(A) IN GENERAL.—Except as provided in
subparagraph (B), the Administrator shall
make the designations under this subsection
once every 5 years, by regulation, and each line
and subline or coverage type designated under
such regulations shall be designated for each of
the first 5 successive annual reporting periods
occurring after issuance of the regulations.
(B) ALTERATION.—During any 5-year pe-
riod referred to in subparagraph (A) in which
designations are in effect, the Administrator
may amend or revise the designated lines,
sublines, and coverage types only by regulation
and only in accordance with the requirements of
this subsection. Such regulations amending or
revising designations shall apply only to annual
reporting periods beginning after the expiration
of the 6-month period beginning on the date of
issuance of the regulations.
(b) TIMING OF DESIGNATIONS.—The Administrator
shall make the designations required by subsection
(a)(3)(A) and notify interested parties during the 6-month
period ending 6 months before the commencement of the
first annual reporting period to which such designations
apply.
(c) OBTAINING INFORMATION.—The Administrator
may require insurers to submit to the Administrator such
information as the Administrator considers necessary to
make designations specifically required under this Act.
The Administrator may not require insurers to submit any
information under this subsection that relates to any line
of small business insurance not specifically authorized to
be designated pursuant to this Act or that is to be used
solely for the purpose of a report under subsection (a)(2).
SEC. 9. ENFORCEMENT.
(a) CIVIL PENALTIES.—Any insurer who is deter-
mined by the Administrator, after providing opportunity
for a hearing on the record, to have violated any require-
ment pursuant to this Act shall be subject to a civil pen-
alty of not to exceed $5,000 for each day during which
such violation continues.
(b) INJUNCTION.—The Administrator may bring an
action in an appropriate United States district court for
appropriate declaratory and injunctive relief against any
insurer who violates the requirements referred to in sub-
section (a).
(c) INSURER LIABILITY.—An insurer shall be respon-
sible under subsections (a) and (b) for any violation of
a statistical agent acting on behalf of the insurer.
SEC. 10. EXEMPTION AND RELATION TO STATE LAWS.
(a) EXEMPTION FOR UNITED STATES PROGRAMS.—
Reporting shall not be required under this Act with re-
spect to insurance provided by any program underwritten
or administered by the United States.
(b) RELATION TO STATE LAWS.—This Act shall not
be construed as annulling, altering, or affecting the laws
of any State or any political subdivision of a State relating
to public disclosure, submission of information, and rec-
ordkeeping or exempting any insurer subject to this Act
from any obligation under, or an obligation to comply
with, any such law.
SEC. 11. SURVEY OF AVAILABILITY AND AFFORDABILITY
OF SMALL BUSINESS PROPERTY AND CAS-
UALTY INSURANCE.
(a) SURVEY.—The Administrator of the Small Busi-
ness Administration shall, through the Office of Advocacy
of such Administration, conduct a survey of a statistically
representative sample of small business owners regarding
their experiences in applying for, obtaining, and being re-
fused small business insurance, which shall—
(1) obtain information about coverage levels, in-
cluding coverage for acts of terrorism and acts of
nature, and average annual premiums; and
(2) involve a sample size that is large enough
to reach meaningful conclusions about the avail-
ability and affordability of insurance by gender,
race, and ethnicity of the small business owner, by
revenue amount of the small business, and by census
tract location of the small business.
(b) REPORT.—Not later than 1 year after the date
of the enactment of this Act, the Administrator of the
Small Business Administration shall complete the survey
under subsection (a) and submit a report to the Congress
regarding the results of the survey, which shall include—
(1) identification and an analysis of any trends
in the availability and affordability of small business
insurance products or services, particularly with re-
spect to small businesses in low-income communities,
minority-owned small businesses, and women-owned
small businesses;
(2) identification and an analysis of any bar-
riers to the availability and affordability of insurance
products and services, particularly with respect to
small businesses in low-income communities, minor-
ity-owned small businesses, and women-owned small
businesses; and
(3) any recommendations to increase access to
affordable insurance products and services by small
business owners, including to small businesses in
low-income communities, minority-owned small busi-
nesses, and women-owned small businesses.
SEC. 12. SOUND UNDERWRITING PRACTICES.
This Act may not be construed to encourage or au-
thorize unsound underwriting practices.
SEC. 13. REGULATIONS.
(a) AUTHORIZATION.—
(1) IN
GENERAL.—The Administrator shall
issue any regulations required under this Act and
any other regulations that may be necessary to carry
out this Act.
(2) SUBSTANTIVE REGULATIONS.—The regula-
tions shall be issued in accordance with the proce-
dures under section 553 of title 5, United States
Code, for substantive regulations.
(3) EFFECTIVE
DATE.—Except as otherwise
provided in this Act, such final regulations shall be
issued before the end of the 18-month period begin-
ning on the date of the enactment of this Act.
(b) BURDENS.—In prescribing such regulations, the
Administrator shall take into consideration the adminis-
trative, paperwork, and other burdens on insurance
agents, including independent insurance agents, involved
in complying with the requirements of this Act and shall
minimize the burdens imposed by such requirements with
respect to such agents.
SEC. 14. DEFINITIONS.
For purposes of this Act, the following definitions
shall apply:
(1) ADMINISTRATOR.—The term ‘‘Adminis-
trator’’ means the Administrator of the Small Busi-
ness Administration.
(2) AGENT.—The term ‘‘agent’’—
(A) means, with respect to an insurer, an
agent licensed by a State who sells property and
casualty insurance; and
(B) includes agents who are employees of
the insurer, agents who are independent con-
tractors working exclusively for the insurer, and
agents who are independent contractors ap-
pointed to represent the insurer on a nonexclu-
sive basis.
(3) DESIGNATED LINE.—The term ‘‘designated
line’’ means a line of insurance or bid, performance,
and payment bonds designated by the Administrator
under section 8(a).
(4) 
EXPOSURES.—The 
term 
‘‘exposures’’
means, for purposes of section 4, with respect to an
insurance policy, an expression of an exposure unit
covered under the policy compared to the duration of
the policy (pursuant to standards established by the
Administrator for uniform reporting of exposures).
(5) EXPOSURE
UNITS.—The term ‘‘exposure
units’’ means, for purposes of section 4, a small
business covered under an insurance policy for small
business fire and allied lines coverage.
(6) INSURANCE.—The term ‘‘insurance’’ means
property and casualty insurance. Such term includes
primary insurance, surplus lines insurance, and any
other arrangement for the shifting and distributing
of risks that is determined to be insurance under the
law of any State in which the insurer or insurer
group engages in an insurance business.
(7) INSURER.—The term ‘‘insurer’’—
(A) means any corporation, association, so-
ciety, order, firm, company, mutual, partner-
ship, individual, aggregation of individuals, or
any other legal entity that is authorized to
transact the business of property or casualty in-
surance in any State or that is engaged in a
property or casualty insurance business; and
(B) does not include an individual or entity
which represents an insurer as agent solely for
the purpose of selling or which represents a
consumer as a broker solely for the purpose of
buying insurance.
(8) ISSUED.—The term ‘‘issued’’ means, with
respect to an insurance policy, newly issued or re-
newed.
(9) JOINT UNDERWRITING ASSOCIATION.—The
term ‘‘joint underwriting association’’ means an un-
incorporated association of insurers established to
provide a particular form of insurance to the public.
(10) MINORITY.—The term ‘‘minority’’ has the
meaning given such term in section 1204(c) of the
Financial Institutions Reform, Recovery, and En-
hancement Act of 1989 (12 U.S.C. 1811 note).
(11) MINORITY-OWNED SMALL BUSINESS.—The
term ‘‘minority-owned small business’’ means a
small business—
(A) more than 50 percent of the ownership
or control of which is held by one or more mi-
nority individuals; and
(B) more than 50 percent of the net prof-
its or loss of which accrues to one or more mi-
nority individuals.
(12) PROPERTY AND CASUALTY INSURANCE.—
The term ‘‘property and casualty insurance’’—
(A) means insurance against loss of or
damage to property, insurance against loss of
income or extra expense incurred because of
loss of, or damage to, property, and insurance
against third party liability claims caused by
negligence or imposed by statute or contract;
and
(B) does not include workers’ compensa-
tion, professional liability, or title insurance.
(13) RESIDUAL MARKET.—The term ‘‘residual
market’’—
(A) means an assigned risk plan, joint un-
derwriting association, or any similar mecha-
nism designed to make insurance available to
those unable to obtain it in the voluntary mar-
ket; and
(B) includes each statewide plan under
part A of title XII of the National Housing Act
to assure fair access to insurance requirements.
(14) SMALL BUSINESS.—The term ‘‘small busi-
ness’’ has the meaning given such term in section 3
of the Small Business Act (15 U.S.C. 632)
(15) STATE.—The term ‘‘State’’ means any
State, the District of Columbia, the Commonwealth
of Puerto Rico, the Northern Mariana Islands, the
Virgin Islands, American Samoa, and the Trust Ter-
ritory of the Pacific Islands.
(16) WOMEN-OWNED
SMALL
BUSINESS.—The
term ‘‘women-owned small business’’ means a small
business—
(A) more than 50 percent of the ownership
or control of which is held by one or more
women; and
(B) more than 50 percent of the net prof-
its or loss of which accrues to one or more
women.
SEC. 15. ANNUAL REPORTING PERIOD.
(a) IN GENERAL.—For purposes of this Act, the an-
nual reporting periods shall be the 12-month periods com-
mencing in each calendar year on the same day, which
shall be selected under subsection (b) by the Adminis-
trator.
(b) SELECTION.—Not later than the expiration of the
6-month period beginning on the date of the enactment
of this Act, the Administrator shall, by regulation, select
a day of the year upon which all annual reporting periods
shall commence. In determining such day, the Adminis-
trator shall consider the reporting periods used for pur-
poses of State and other insurance statistical reporting
systems, in order to minimize the burdens on insurers.
SEC. 16. EFFECTIVE DATE.
The requirements of this Act relating to reporting of
information by insurers shall take effect with respect to
the first annual reporting period that begins more than
18 months after the date of the enactment of this Act.
Æ