Terrorism Risk Insurance Program

ICR 201802-1505-001

OMB: 1505-0257

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2018-02-20
Supporting Statement A
2018-02-20
ICR Details
1505-0257 201802-1505-001
Historical Active 201703-1505-001
TREAS/DO
Terrorism Risk Insurance Program
Revision of a currently approved collection   No
Regular
Approved without change 03/23/2018
Retrieve Notice of Action (NOA) 02/20/2018
  Inventory as of this Action Requested Previously Approved
03/31/2021 36 Months From Approved 04/30/2020
875 0 875
38,750 0 38,750
74,375 0 74,375

The Terrorism Risk Insurance Act of 2002 (TRIA) created the Terrorism Risk Insurance Program (Program) to address disruptions in the market for terrorism risk insurance, to help ensure the continued availability and affordability of commercial property and casualty insurance for terrorism risk, and to allow for the private markets to stabilize and build insurance capacity to absorb any future losses for terrorism events. The Program has been reauthorized on a number of occasions, most recently in the Terrorism Risk Insurance Program Reauthorization Act of 2015. TRIA requires the Secretary of the Treasury (Secretary) to perform periodic analyses of certain matters concerning the Program. In order to assist the Secretary with this process, TRIA requires insurers to submit on an annual basis certain insurance data and information regarding participation in the Program. Treasury is submitting the data collection forms proposed for use in the 2018 data collection process, pursuant to 31 CFR 50.51(c). Copies of these forms and associated explanatory materials are available for electronic review at https://www.treasury.gov/​resource-center/​fin-mkts/​Pages/​program.aspx.

PL: Pub.L. 109 - 144 119 Name of Law: Terrorism Risk Insurance Extension Act of 2005
   PL: Pub.L. 114 - 1 129 Name of Law: Terrorism Risk Insurance Program Reauthorization Act of 2015
   PL: Pub.L. 110 - 160 121 Name of Law: Terrorism Risk Insurance Program Reauthorization Act of 2007
   PL: Pub.L. 107 - 297 1161 Name of Law: Terrorism Risk Insurance Act of 2002
   US Code: 15 USC 6701 Name of Law: Operation of State Law
  
PL: Pub.L. 114 - 1 129 Name of Law: Terrorism Risk Insurance Program Reauthorization Act of 2015

Not associated with rulemaking

  82 FR 56328 11/28/2017
83 FR 6731 02/14/2018
Yes

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 875 875 0 0 0 0
Annual Time Burden (Hours) 38,750 38,750 0 0 0 0
Annual Cost Burden (Dollars) 74,375 74,375 0 0 0 0
No
No

$450,000
No
    No
    No
No
No
No
Uncollected
Lindy Gustafson 202 622-6245 [email protected]

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
02/20/2018


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