Proposed Information Collection; Comment Request; Quarterly Survey of Insurance Transactions by U.S. Insurance Companies With Foreign Persons, 26251-26252 [2012-10678]

Agencies

• DEPARTMENT OF COMMERCE
• Bureau of Economic Analysis

[Federal Register Volume 77, Number 86 (Thursday, May 3, 2012)]
[Notices]
[Pages 26251-26252]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-10678]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Proposed Information Collection; Comment Request; Quarterly 
Survey of Insurance Transactions by U.S. Insurance Companies With 
Foreign Persons

AGENCY: Bureau of Economic Analysis (BEA), Commerce.

ACTION: Notice.

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SUMMARY: The Department of Commerce, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the general public 
and other Federal agencies to comment on proposed and/or continuing 
information collections, as required by the Paperwork Reduction Act of 
1995.

DATES: Written comments must be submitted on or before July 2, 2012.

ADDRESSES: Direct all written comments to Jennifer Jessup, Departmental 
Paperwork Clearance Officer, Department of Commerce, Room 6616, 14th 
and Constitution Avenue NW., Washington, DC 20230, or via the Internet 
at jjessup@doc.gov.

FOR FURTHER INFORMATION CONTACT: Direct requests for additional 
information or copies of the survey and instructions to Christopher 
Emond, Chief, Special Surveys Branch, Balance of Payments Division, 
(BE-50), Bureau of Economic Analysis, U.S. Department of Commerce, 
Washington, DC 20230; phone: (202) 606-9826; fax: (202) 606-5318; or 
via the Internet at christopher.emond@bea.gov.

SUPPLEMENTARY INFORMATION:

I. Abstract

    Form BE-45, Quarterly Survey of Insurance Transactions by U.S. 
Insurance Companies with Foreign Persons, obtains quarterly data from 
U.S. insurance companies that have engaged in reinsurance transactions 
with foreign persons, that have earned premiums from, or incurred 
losses to, foreign persons in acting as primary insurers, or that have 
engaged in international sale or purchase transactions in auxiliary 
insurance services greater than $8 million (positive or negative) for 
the prior calendar year or that are expected to be greater than $8 
million (positive or negative) in the current calendar year. The data 
collected are cut-off sample data. In addition, estimates are developed 
based upon previously reported or estimated data for non-respondents, 
including those U.S. insurance companies that fall below the reporting 
threshold for the quarterly survey but reported on a previous benchmark 
survey.
    The data are needed to monitor U.S. international trade in 
insurance services, analyze its impact on the U.S. and foreign 
economies, compile and improve the U.S. economic accounts, support U.S. 
commercial policy on insurance services, conduct trade promotion, and 
improve the ability of U.S. businesses to identify and evaluate market 
opportunities.
    Responses will be due within 60 days after the close of each 
calendar quarter, except for the final quarter of the respondents' 
fiscal year, when reports are due within 90 days after the close of the 
quarter. The data from the survey are primarily intended as general 
purpose statistics. They are needed to answer any number of research 
and policy questions related to cross-border trade in services.
    The form is unchanged from the previous version. No changes in the 
data

[[Page 26252]]

collected or in exemption levels are proposed.

II. Method of Collection

    The surveys are sent to the respondents by U.S. mail; the surveys 
are also available from the Bureau of Economic Analysis Web site. 
Respondents return the surveys one of four ways: U.S. mail, 
electronically using BEA's electronic collection system (eFile), fax, 
or email.

III. Data

    OMB Control Number: 0608-0066.
    Form Number: BE-45.
    Type of Review: Regular submission (extension of a currently 
approved information collection).
    Affected Public: U.S. insurance companies that transact with 
foreign persons in insurance Services; Business or other for-profit 
organizations.
    Estimated Number of Respondents: 535 per quarter; 2,140 annually.
    Estimated Time Per Response: 8 hours for mandatory response; and 1 
hour for other response.
    Estimated Total Annual Burden Hours: 15,440.
    Estimated Total Annual Cost to Public: $0.
    Respondent's Obligation: Mandatory.

    Legal Authority: The International Investment and Trade in 
Services Survey Act, 22 U.S.C. 3101-3108, as amended.

IV. Request for Comments

    Comments are invited on: (a) Whether the proposed collection of 
information is necessary for the proper performance of the functions of 
the Agency, including whether the information will have practical 
utility; (b) the accuracy of the Agency's estimate of the burden 
(including hours and cost) of the proposed collection of information; 
(c) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (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 
technology.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval of this information 
collection; they also will become a matter of public record.

    Dated: April 30, 2012.
Gwellnar Banks,
Management Analyst, Office of Chief Information Officer.
[FR Doc. 2012-10678 Filed 5-2-12; 8:45 am]
BILLING CODE 3510-06-P