Source: https://www.federalregister.gov/documents/2007/08/30/E7-17149/insurer-reporting-requirements-list-of-insurers-required-to-file-reports
Timestamp: 2017-10-19 09:39:36
Document Index: 551981850

Matched Legal Cases: ['ART 544', 'art 544', 'art 544', 'art 544', 'art 544', 'art 544', 'art 544', '§\u2009544']

A Rule by the National Highway Traffic Safety Administration on 08/30/2007
This final rule becomes effective on October 1, 2007, given the date of submission. Insurers listed in the appendices are required to submit reports before October 25, 2007.
72 FR 50077
Docket No.: NHTSA-2006-27240
2127-AJ98
E7-17149
PART 544—INSURER REPORTING REQUIREMENTS
https://www.federalregister.gov/d/E7-17149 https://www.federalregister.gov/d/E7-17149
This final rule amends regulations on insurer reporting requirements. The appendices list those passenger motor vehicle insurers that are required to file reports on their motor vehicle theft loss experiences. An insurer included in any of these appendices must file three copies of its report for the 2004 calendar year before October 25, 2007. If the passenger motor vehicle insurers remain listed, they must submit reports by each subsequent October 25.
If you wish to submit a petition for reconsideration of this rule, your petition must be received by October 15, 2007.
Rosalind Proctor, Office of International Vehicle, Fuel Economy and Consumer Standards, NHTSA, 1200 New Jersey Avenue, SE., West Building, Room W43-302, Washington, DC 20590, by Start Printed Page 50078electronic mail to rosalind.proctor@dot.gov. Ms. Proctor's telephone number is (202) 366-0846. Her fax number is (202) 493-0073.
Pursuant to 49 U.S.C. 33112, Insurer reports and information, NHTSA requires certain passenger motor vehicle insurers to file an annual report with the agency. Each insurer's report includes information about thefts and recoveries of motor vehicles, the rating rules used by the insurer to establish premiums for comprehensive coverage, the actions taken by the insurer to reduce such premiums, and the actions taken by the insurer to reduce or deter theft. Pursuant to 49 U.S.C. 33112(f), the following insurers are subject to the reporting requirements:
In the final rule establishing the insurer reports requirement (49 CFR part 544), (52 FR 59; January 2, 1987), NHTSA exercised its exemption authority by listing in Appendix A each insurer that must report because it had at least 1 percent of the motor vehicle insurance premiums nationally. Listing the insurers subject to reporting, instead of each insurer exempted from reporting because it had less than 1 percent of the premiums nationally, is administratively simpler since the former group is much smaller than the latter. In Appendix B, NHTSA lists those insurers required to report for particular states because each insurer had a 10 percent or greater market share of motor vehicle premiums in those states. In the January 1987 final rule, the agency stated that it would update Appendices A and B annually. NHTSA updates the appendices based on data voluntarily provided by insurance companies to A.M. Best, which A.M. Best [1] publishes in its State/Line Report each spring. The agency uses the data to determine the insurers' market shares nationally and in each state.
On April 9, 2007, NHTSA published a notice of proposed rulemaking (NPRM) to update the list of insurers in Appendices A, B, and, C required to file reports (72 FR 17465). Appendix A lists insurers that must report because each had 1 percent of the motor vehicle insurance premiums on a national basis. The list was last amended in a final rule published on September 5, 2006 (71 FR 52291). Based on the 2004 calendar year market share data from A.M. Best, NHTSA proposed to remove Travelers PC Group and add St Paul Travelers Companies to Appendix A.
Each of the 18 insurers listed in Appendix A are required to file a report before October 25, 2007, setting forth the information required by Part 544 for each State in which it did business in the 2004 calendar year. As long as these 18 insurers remain listed, they are required to submit a report by each subsequent October 25 for the calendar year ending slightly less than 3 years before.
Appendix B lists insurers required to report for particular States for calendar year 2004, because each insurer had a 10 percent or greater market share of motor vehicle premiums in those States. Based on the 2004 calendar year data for market shares from A.M. Best, we proposed to remove Arbella Mutual Insurance (Massachusetts) and add the Start Printed Page 50079Farm Bureau of Idaho Group (Idaho) to Appendix B.
The nine insurers listed in Appendix B are required to report on their calendar year 2004 activities in every State where they had a 10 percent or greater market share. These reports must be filed by October 25, 2007, and set forth the information required by Part 544. As long as these nine insurers remain listed, they would be required to submit reports on or before each subsequent October 25 for the calendar year ending slightly less than 3 years before.
Appendix C lists rental and leasing companies required to file reports. Based on information in Automotive Fleet Magazine and Auto Rental News for 2004, NHTSA proposed to add Emkay, Inc. Each of the eight companies (including franchisees and licensees) listed in Appendix C are required to file reports for calendar year 2004 no later than October 25, 2007, and set forth the information required by Part 544. As long as those eight companies remain listed, they would be required to submit reports before each subsequent October 25 for the calendar year ending slightly less than 3 years before.
The agency received no comments in response to the NPRM for Appendices A, B and C. Therefore, this final rule adopts the proposed changes to Appendix A, B and C. Accordingly, NHTSA has determined that each of the 18 insurers listed in Appendix A, each of the nine insurers listed in Appendix B and each of eight companies listed in Appendix C are required to submit an insurer report on its experience for calendar year 2004 as required by 49 CFR Part 544.
a. Mail: Rosalind Proctor, Office of International Vehicle, Fuel Economy and Consumer Standards, Department of Transportation, NHTSA, West Building, 1200 New Jersey Avenue, SE., NVS-131, Room W43-302, Washington, DC 20590
NHTSA does not believe that this rule, reflecting current data, affects the impacts described in the final regulatory evaluation prepared for the final rule establishing Part 544 (52 FR 59; January 2, 1987). Accordingly, a separate regulatory evaluation has not been prepared for this rulemaking action. Using the Bureau of Labor Statistics Consumer Price Index for 2006 (see http://www.bls.gov/​cpi), the cost estimates in the 1987 final regulatory evaluation were adjusted for inflation. The agency estimates that the cost of compliance is $100,800 for any insurer added to Appendix A, $40,320 for any insurer added to Appendix B, and $11,632 for any insurer added to Appendix C. In this final rule, the agency made no additional changes to Appendices A, B, or C of the list of insurers published in the April 9, 2007 NPRM. Therefore, there will be no additional net effect of this final rule. Accordingly, this final will adopt the proposed changes to Appendix A, B and C.
Interested persons may wish to examine the 1987 final regulatory evaluation. Copies of that evaluation were placed in Docket No. T86-01; Notice 2. Any interested person may obtain a copy of this evaluation by writing to NHTSA, Docket Section, 1200 New Jersey Avenue, SE., West Building (Ground Floor), Room W12-140, Washington, DC 20590, or by calling (202) 366-4949.
The information collection requirements in this final rule were submitted and approved by the Office of Management and Budget (OMB) pursuant to the requirements of the Paperwork Reduction Act (44 U.S.C. 3501 et seq.). The existing information collection indicates that the number of respondents for this collection is forty-five, however, the actual number of respondents fluctuate from year to year. Therefore, because the number of respondents required to report for this final rule does not exceed the number of respondents indicated in the existing information collection, the agency does not believe that an amendment to the existing information collection is necessary. This collection of information is assigned OMB Control Number 2127-0547 (“Insurer Reporting Requirements”) and is approved for use through August 31, 2009, and the agency will seek to extend the approval afterwards.
This action has been analyzed according to the principles and criteria contained in Executive Order 12612, and it has been determined that the final rule does not have sufficient federalism implications to warrant the preparation of a Federalism Assessment. Start Printed Page 50080
a. Mail: Rosalind Proctor, Office of International Vehicle, Fuel Economy and Consumer Standards, NHTSA, West Building, 1200 New Jersey Avenue, SE., NVS-131, Room W43-302, Washington, DC 20590.
(a) * * * This report shall contain the information required by § 544.6 of this part for the calendar year 3 years previous to the year in which the report is filed (e.g., the report due by October 25, 2007 will contain the required information for the 2004 calendar year).
St Paul Travelers Companies [1]
Farm Bureau of Idaho Group (Idaho)[1]
EmKay, Inc.[1]
1. Indicates a newly listed company which must file a report beginning with the report due October 25, 2007.
[FR Doc. E7-17149 Filed 8-29-07; 8:45 am]