Source: https://www.federalregister.gov/documents/2012/05/14/2012-11565/insurer-reporting-requirements-list-of-insurers-required-to-file-reports
Timestamp: 2017-08-18 22:35:13
Document Index: 615973100

Matched Legal Cases: ['art 544', 'art 544', 'art 544', 'art 544', 'art 544', 'art 512', '§\u2009544']

A Proposed Rule by the National Highway Traffic Safety Administration on 05/14/2012
Comments must be submitted not later than July 13, 2012. Insurers listed in the appendices are required to submit reports on or before October 25, 2012.
28343-28347 (5 pages)
NHTSA-2012-0020
https://www.federalregister.gov/d/2012-11565 https://www.federalregister.gov/d/2012-11565
You may submit comments, identified by DOT Docket No. NHTSA-2012-0020 by any of the following methods:
Carlita Ballard, Office of International Policy, Fuel Economy and Consumer Programs, NHTSA, 1200 New Jersey Avenue SE., Washington, DC 20590, by electronic mail to Carlita.Ballard@dot.gov. Ms. Ballard's telephone number is (202) 366-0846. Her fax number is (202) 493-2990.
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. Under the agency's regulation, 49 CFR part 544, the following insurers are subject to the reporting requirements:
Section 33112(f)(2) provides that the agency shall exempt small insurers of passenger motor vehicles if NHTSA finds that such exemptions will not significantly affect the validity or usefulness of the information in the reports, either nationally or on a state-by-state basis.
The term “small insurer” is defined, in Section 33112(f)(1)(A) and (B), as an insurer whose premiums for motor vehicle insurance issued directly or through an affiliate, including pooling arrangements established under state law or regulation for the issuance of motor vehicle insurance, account for less than 1 percent of the total premiums for all forms of motor vehicle insurance issued by insurers within the United States. However, that section also stipulates that if an insurance company satisfies this definition of a “small insurer,” but accounts for 10 percent or more of the total premiums for all motor vehicle insurance issued in a particular state, the insurer must report about its operations in that state.
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 July 13, 2011 (76 FR 41138). Based on the 2009 calendar year data market shares from A.M. Best, NHTSA proposes to remove American International Group from Appendix A and add California State Auto Group to Appendix A.
Each of the 17 insurers listed in Appendix A are required to file a report before October 25, 2012, setting forth the information required by Part 544 for each State in which it did business in the 2009 calendar year. As long as these 17 insurers remain listed, they will be required to submit reports 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 2009, because each insurer had a 10 percent or greater market share of motor vehicle premiums in those States. Based on the 2009 calendar year data for market shares from A.M. Best, we propose to make no change to Appendix B.
The eight remaining insurers listed in Appendix B are required to report on their calendar year 2009 activities in every State where they had a 10 percent or greater market share. These reports must be filed by October 25, 2012, and set forth the information required by Part 544. As long as these eight 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.
Each of the remaining five companies (including franchisees and licensees) listed in Appendix C are required to file reports for calendar year 2009 no later than October 25, 2012, and set forth the information required by Part 544. As long as those five 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.
NHTSA does not believe that this proposed 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. The cost estimates in the 1987 final regulatory evaluation should be adjusted for inflation, using the Bureau of Labor Statistics Consumer Price Index for 2012 (see http://www.bls.gov/cpi). The agency estimates that the cost of compliance is $50,000 (1987 dollars) for any insurer added to Appendix A, $20,000 (1987 dollars) for any insurer added to Appendix B, and $5,770 (1987 dollars) for any insurer added to Appendix C. If this proposed rule is made final, for Appendix A, the agency would propose to remove and add one company, for Appendix B, the agency would propose to make no change, and for Appendix C, the agency would propose to make no change. The agency estimates that the net effect of this proposal, if made final, would have no cost to insurers as a group.
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, Technical Reference Division, 1201 New Jersey Avenue SE., East Building, Ground Floor, Room E12-100, Washington, DC 20590, or by calling (202) 366-2588.
The information collection requirements in this proposed rule were submitted to the Office of Management and Budget (OMB) pursuant to the requirements of the Paperwork Reduction Act (44 U.S.C. 3501 et seq.). This collection of information is assigned OMB Control Number 2127-0547 (“Insurer Reporting Requirements”). This collection of information is approved for use through April 30, 2015, and the agency will seek to extend the approval afterwards. The existing information collection indicates that the number of respondents for this collection is thirty, 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.
a. Mail: Carlita Ballard, Office of International Policy, Fuel Economy and Consumer Programs, NHTSA, 1200 New Jersey Avenue SE., (West Building) Washington, DC 20590;
b. Email: Carlita.Ballard@dot.gov; or
Include the name, date and docket number with your comments.
Comments may also be submitted to the docket electronically by logging onto the Federal eRulemaking Portal Web site at http:www.regulation.gov. Follow the online instructions for submitting comments.
If you wish to submit any information under a confidentiality claim, you should submit three copies of your complete submission, including the information you claim as confidential business information, to the Chief Counsel, Office of Chief Counsel, NHTSA, 1200 New Jersey Avenue SE., West Building, Washington, DC 20590. In addition, you should submit two copies, from which you have deleted the claimed confidential business information, to Docket Management at the address given above under ADDRESSES. When you send a comment containing information claimed to be confidential business information, you should include a cover letter addressing the information specified in our confidential business information regulation (49 CFR part 512).
You may read the comments received by Docket Management at the address given above under ADDRESSES. The hours of the Docket are indicated above, in the same location. You may also see the comments on the Internet. To read the comments on the Internet, log onto the Federal eRulemaking Portal at http:www.regulation.gov.
(a) Each insurer to which this part applies shall submit a report annually before October 25, beginning on October 25, 1986. 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, 2012, will contain the required information for the 2009 calendar year).
Issued on: May 8, 2012.
1. Indicates a newly listed company which must file a report beginning with the report due October 25, 2012.
[FR Doc. 2012-11565 Filed 5-11-12; 8:45 am]