Notice and request for comments.
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 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 Record Keeping Requirements set forth in 31 CFR part 50, subpart I (Sec. 50.82).
Written comments must be received on or before August 20, 2013.
Submit comments by email to email@example.com 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—Recoupment Procedures of the Terrorism Risk Insurance Act (TRIA)”. Please include your name, affiliation, address, email 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).
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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).
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OMB Number: 1505-0196.
Title: Terrorism Risk Insurance Program: Litigation Management- Information Collection Regarding Proposed Settlements.
Abstrac t : Section 103(a) and 104 of the Terrorism Risk Insurance Act of 2002 (Pub. L. 107-297) (“TRIA”) authorize the Department of the Treasury to administer and implement the temporary Terrorism Risk Insurance Program established by the Act. Section 107 contains specific provisions designed to manage litigation arising out of or resulting from a certified act of terrorism. The Terrorism Risk Insurance Extension Act of 2005, Public Law 109-144, added section 107(a)(6) to TRIA, which provides that procedures and requirements established by the Secretary under 31 CFR 50.82, as in effect on the date of issuance of that section in final form [July 28, 2004], shall apply to any Federal cause of action described in section 107(a)(1). Section 50.82 of the regulations requires insurers to submit to Treasury for advance approval certain proposed settlements involving an insured loss, any part of the payment of which the insurer intends to submit as part of its claim for Federal payment under the Program. Section 50.83 of the regulations describes the form and content that insurers must submit to implement the settlement approval process prescribed by Section 50.82.
Type of Review: Extension of a currently approved data collection.
Affected Public: Business/Financial Institutions.
Estimated Number of Respondents: 1,286.
Estimated Average Time per Respondent: 4 hours.
Estimated Total Annual Burden Hours: 5141 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 Start Printed Page 37662technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.
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Dated: June 17, 2013.
Jeffrey S. Bragg,
Director, Terrorism Risk Insurance Program.
[FR Doc. 2013-14829 Filed 6-20-13; 8:45 am]
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