30-Day FRN - 2900-0021 (2021)

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Federal Register / Vol. 86, No. 220 / Thursday, November 18, 2021 / Notices
Comments are being sought with
respect to the collection of information
in the proposed Terrorism Risk
Insurance Program 2022 data call.
Treasury specifically invites comments
on: (a) Whether the proposed collection
is responsive to the statutory
requirement; (b) the accuracy of the
estimate of the burden of the collections
of information (see below); (c) ways to
enhance the quality, utility, and clarity
of the information collection; (d) ways
to use automated collection techniques
or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to maintain the information.
Treasury previously analyzed the
potential burdens associated with the
2021 data call. See 85 FR 41676, 41677–
78 (July 10, 2020). The information
sought by Treasury comprises data
elements that insurers currently collect
or generate, although not necessarily
grouped together the way in which
insurers currently collect and evaluate
the data. Based upon insurer
submissions in the 2021 data call,
Treasury estimates that for purposes of
the 2022 data call, approximately 100
Program participants will be required to
submit the ‘‘Insurer (Non-Small) Groups
or Companies’’ data collection form, 225
Program participants will be required to
submit the ‘‘Small Insurer’’ form, 575
Program participants will be required to
submit the ‘‘Captive Insurer’’ form, and
100 Program participants will be
required to submit the ‘‘Alien Surplus
Lines Insurers’’ form.
Each set of reporting templates is
expected to incur a different level of
burden. At the time of the 2020
estimate, the average burden estimate
for Non-Small Insurers was 82 hours; for
Small Insurers, 28 hours; for Captive
Insurers, 51 hours, and for Alien
Surplus Lines Insurers, 51 hours.20
When Treasury added a Cyber
worksheet to the reporting templates in
2018, it did not estimate any additional
material burden at that time associated
with incremental addition of requiring
some limited cyber insurance
reporting.21
The changes to the proposed data
reporting elements in 2022 are not
anticipated to have a significant impact
on Treasury’s prior burden estimates
with respect to the additional requested
information specific to captive insurers,
as the additional information is largely
the same information that has been
previously collected, with the
additional requirement that such
20 85

FR 41676, 41677–78 (July 10, 2020).
21 82 FR 56328, 56331 (Nov. 28, 2017).

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information be divided between
deductible reimbursement policies
versus other policies in the same line of
insurance. Given the relatively small
number of policies issued by captive
insurers, the additional effort to make
this separation (assuming the captive
insurer issues policies in both
categories) should not be significant.
Treasury does anticipate that the
additional information collection
concerning cyber insurance (which is
sought from each category of
participating insurer) will have an
impact upon the existing burden
estimates.
Although the amount of information
requested concerning cyber insurance is
more than has been requested in the
past, it is in generally in the same
format, with the exception that some
information is now requested to be
provided by size of policyholder. FIO
anticipates that this will require some
further manipulation of the data by
participating insurers than in prior
years. In addition, the templates now
request claims-related information.
Accordingly, for those insurers required
to respond to the Cyber (Nationwide)
worksheet, Treasury anticipates an
additional 10 hours of burden, based
upon its own evaluation and
engagement with its data aggregator.
That estimate, however, should be
reduced by the percentage of insurers in
each respective category that complete
the Cyber worksheet. Based upon the
results of the 2021 data call, 80 percent
of Non-Small Insurers, 33 percent of
Small Insurers, 10 percent of Captive
Insurers, and 60 percent of Alien
Surplus Lines Insurers provided
information in connection with this
worksheet. Accordingly, Treasury
estimates the incremental additional
burden for each group as 8 hours for
Non-Small Insurers, for 90 hours total;
4 hours for Small Insurers, or 32 hours
total; 1 hour for Captive Insurers, or 52
hours total; and 6 hours for Alien
Surplus Lines Insurers, or 57 hours
total.
Assuming this breakdown, and when
applied to the number of reporting
insurers anticipated in light of the
experience of the 2021 data call, the
estimated annual burden would be
51,800 hours ((100 insurers × 90 hours)
+ (225 insurers × 32 hours) + (575
insurers × 52 hours) + (100 insurers × 57
hours)). At a blended, fully loaded
hourly rate of $52.25,22 the anticipated
22 Based on data from the Bureau of Labor
Statistics, for Insurance Carriers and Related
Activities, https://www.bls.gov/iag/tgs/iag524.htm.
The average wage rate for all insurance employees
was $39.02 in July 2021, and the total benefit
compensation in the 2nd Quarter of 2021 was

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labor cost would be $2,706,550 across
the industry as a whole, or $4,703 per
Non-Small Insurer, $1,672 per small
insurer, $2,717 per Captive Insurer, and
$2,978 per Alien Surplus Lines Insurer.
Dated: November 15, 2021.
Steven E. Seitz,
Director, Federal Insurance Office.
[FR Doc. 2021–25181 Filed 11–17–21; 8:45 am]
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DEPARTMENT OF VETERANS
AFFAIRS
[OMB Control No. 2900–0021]

Agency Information Collection
Activity: VA Loan Electronic Reporting
Interface (VALERI) System
Veterans Benefits
Administration, Department of Veterans
Affairs.
ACTION: Notice.
AGENCY:

In compliance with the
Paperwork Reduction Act (PRA) of
1995, this notice announces that the
Veterans Benefits Administration,
Department of Veterans Affairs, will
submit the collection of information
abstracted below to the Office of
Management and Budget (OMB) for
review and comment. The PRA
submission describes the nature of the
information collection and its expected
cost and burden and it includes the
actual data collection instrument.
DATES: Written comments and
recommendations for the proposed
information collection should be sent
within 30 days of publication of this
notice to www.reginfo.gov/public/do/
PRAMain. Find this particular
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function. Refer to ‘‘OMB Control
No. 2900–0021.
FOR FURTHER INFORMATION CONTACT:
Maribel Aponte, Office of Enterprise
and Integration, Data Governance
Analytics (008), 1717 H Street NW,
Washington, DC 20006, (202) 266–4688
or email [email protected]. Please
refer to ‘‘OMB Control No. 2900–0021’’
in any correspondence.
SUPPLEMENTARY INFORMATION:
Authority: 38 CFR 36.4338(a)
Title: VA LOAN ELECTRONIC
REPORTING INTERFACE (VALERI)
SYSTEM.
OMB Control Number: 2900–0021.
SUMMARY:

33.9%, which is a benefit multiplier of 1.339.
Therefore, a fully-loaded wage rate for insurance
employees is $52.25, or $39.02 × 1.339.

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Federal Register / Vol. 86, No. 220 / Thursday, November 18, 2021 / Notices

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Type of Review: Extension of
approved information collection.
Abstract: VA is submitting a regular
extension for an already approved
collection. VA provides the authority for
VA-guaranteed mortgage servicers to
assist Veteran borrowers and their
families experiencing financial
difficulty. VA then provides oversight of
the servicers’ actions by collecting
specific documentation and data. In
today’s environment, this collection is
done via the VALERI application.
VA submitted an emergency
information collection request, which
was approved to January 31, 2022, to
account for data collection requirements

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associated with the COVID–19 Refund
Modification. Much like VA’s temporary
COVID–19 Veterans Assistance Partial
Claim Payment program (COVID–
VAPCP), servicers who offer the
COVID–19 Refund Modification are
required to report information related to
selecting this home retention option to
VA electronically.
An agency may not conduct or
sponsor, and a person is not required to
respond to a collection of information
unless it displays a currently valid OMB
control number. The Federal Register
Notice with a 60-day comment period
soliciting comments on this collection
of information was published at 86 FR

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51226 on September 14, 2021, pages
51226 and 51227.
Affected Public: Individuals or
Households.
Estimated Annual Burden: 70 hours.
Estimated Average Burden per
Respondent: 1 minute.
Frequency of Response: One time.
Estimated Number of Respondents:
967.
By direction of the Secretary.
Maribel Aponte,
VA PRA Clearance Officer, Office of
Enterprise and Integration, Data Governance
Analytics, Department of Veterans Affairs.
[FR Doc. 2021–25197 Filed 11–17–21; 8:45 am]
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