2016 Report on the Terrorism Risk Insurance Program, 16281 [2016-06795]
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Federal Register / Vol. 81, No. 58 / Friday, March 25, 2016 / Notices
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[FR Doc. 2016–06798 Filed 3–24–16; 8:45 am]
BILLING CODE 4810–25–P
DEPARTMENT OF THE TREASURY
2016 Report on the Terrorism Risk
Insurance Program
Departmental Offices, U.S.
Department of the Treasury.
ACTION: Notice and request for comment.
AGENCY:
The Terrorism Risk Insurance
Act of 2002, as amended (TRIA),
requires participating insurers to make
insurance available for losses resulting
from acts of terrorism, and provides a
federal government backstop for the
insurers’ resulting financial exposure.
TRIA established, in the U.S.
Department of the Treasury, the
Terrorism Risk Insurance Program
(TRIP), which is administered by the
Secretary of the Treasury (Secretary),
with the assistance of the Federal
Insurance Office (FIO). The Terrorism
Risk Insurance Program Reauthorization
Act of 2015 (Reauthorization Act),
which extended and amended certain
provisions of TRIP, requires the
Secretary to submit a report to Congress
concerning, among other things, the
overall effectiveness of TRIP. To assist
the Secretary in formulating the report,
FIO is seeking comment on the statutory
factors that the report must analyze and
other related matters.
DATES: Comments must be submitted
not later than April 15, 2016.
ADDRESSES: Interested persons may
submit comments electronically through
the Federal eRulemaking Portal at
https://www.regulations.gov, in
accordance with the instructions on that
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SUMMARY:
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18:30 Mar 24, 2016
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site. In general, the Department will
post all comments to
www.regulations.gov without change,
including any business or personal
information provided such as names,
addresses, email addresses, or telephone
numbers. The Department will also
make such comments available for
public inspection and copying in the
Treasury’s Library, 1500 Pennsylvania
Avenue NW., Washington, DC 20220, on
official business days between the hours
of 10:00 a.m. and 5:00 p.m. Eastern
Time. You can make an appointment to
inspect comments by telephoning (202)
622–0990. All comments, including
attachments and other supporting
materials, are part of the public record
and subject to public disclosure. You
should submit only information that
you wish to make available publicly.
Electronic submissions are
encouraged.
Comments may also be mailed to the
Department of the Treasury, Federal
Insurance Office, MT 1410, 1500
Pennsylvania Avenue NW., Washington,
DC 20220.
FOR FURTHER INFORMATION CONTACT:
Richard A. Ifft, Senior Insurance
Regulatory Policy Analyst, Federal
Insurance Office, (202) 622–2922 (this is
not a toll-free number) or Kevin
Meehan, Policy Advisor, Federal
Insurance Office, (202) 622–7009 (not a
toll free number). Persons who have
difficulty hearing or speaking may
access this number via TTY by calling
the toll-free Federal Relay Service at
(800) 877–8339.
SUPPLEMENTARY INFORMATION:
I. Background
Section 111 of the Reauthorization
Act (Pub. L. 114–1) requires the
Secretary to submit a report to the
Committee on Financial Services of the
House of Representatives and the
Committee on Banking, Housing, and
Urban Affairs of the Senate on, among
other things, the impact and
PO 00000
Frm 00155
Fmt 4703
Sfmt 9990
effectiveness of TRIP. The report must
also include an evaluation of
information that is being separately
collected by Treasury, including certain
data appropriate for analyzing the
effectiveness of TRIP.
II. Solicitation for Comments
Collecting additional information and
views on the matters that must be
addressed in the report to Congress will
assist the Secretary in the formulation of
the report and enhance the report’s
accuracy and value. Treasury seeks
comment from interested parties on all
Section 111 elements that must be
covered in the report, including
comments on:
1. The overall effectiveness of the
TRIP;
2. Observed changes or trends relating
to matters that Treasury is collecting
data about under Section 111 of the
Reauthorization Act;
3. Whether any aspects of TRIP have
the effect of discouraging or impeding
insurers from providing commercial
property casualty insurance coverage or
coverage for acts of terrorism; and
4. The impact of TRIP on workers’
compensation insurers.
In addition to comments on the above,
Treasury also seeks comment from
interested parties on:
5. The availability and affordability of
terrorism risk insurance coverage, both
nationally and in particular geographic
areas; and
6. Other issues relating to TRIP or
terrorism insurance or reinsurance more
broadly that may be relevant to
Treasury’s assessment of the
effectiveness of TRIP.
Michael T. McRaith,
Director, Federal Insurance Office.
[FR Doc. 2016–06795 Filed 3–24–16; 8:45 am]
BILLING CODE 4810–25–P
E:\FR\FM\25MRN1.SGM
25MRN1
Agencies
[Federal Register Volume 81, Number 58 (Friday, March 25, 2016)]
[Notices]
[Page 16281]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-06795]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
2016 Report on the Terrorism Risk Insurance Program
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The Terrorism Risk Insurance Act of 2002, as amended (TRIA),
requires participating insurers to make insurance available for losses
resulting from acts of terrorism, and provides a federal government
backstop for the insurers' resulting financial exposure. TRIA
established, in the U.S. Department of the Treasury, the Terrorism Risk
Insurance Program (TRIP), which is administered by the Secretary of the
Treasury (Secretary), with the assistance of the Federal Insurance
Office (FIO). The Terrorism Risk Insurance Program Reauthorization Act
of 2015 (Reauthorization Act), which extended and amended certain
provisions of TRIP, requires the Secretary to submit a report to
Congress concerning, among other things, the overall effectiveness of
TRIP. To assist the Secretary in formulating the report, FIO is seeking
comment on the statutory factors that the report must analyze and other
related matters.
DATES: Comments must be submitted not later than April 15, 2016.
ADDRESSES: Interested persons may submit comments electronically
through the Federal eRulemaking Portal at https://www.regulations.gov,
in accordance with the instructions on that site. In general, the
Department will post all comments to www.regulations.gov without
change, including any business or personal information provided such as
names, addresses, email addresses, or telephone numbers. The Department
will also make such comments available for public inspection and
copying in the Treasury's Library, 1500 Pennsylvania Avenue NW.,
Washington, DC 20220, on official business days between the hours of
10:00 a.m. and 5:00 p.m. Eastern Time. You can make an appointment to
inspect comments by telephoning (202) 622-0990. All comments, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. You should submit only
information that you wish to make available publicly.
Electronic submissions are encouraged.
Comments may also be mailed to the Department of the Treasury,
Federal Insurance Office, MT 1410, 1500 Pennsylvania Avenue NW.,
Washington, DC 20220.
FOR FURTHER INFORMATION CONTACT: Richard A. Ifft, Senior Insurance
Regulatory Policy Analyst, Federal Insurance Office, (202) 622-2922
(this is not a toll-free number) or Kevin Meehan, Policy Advisor,
Federal Insurance Office, (202) 622-7009 (not a toll free number).
Persons who have difficulty hearing or speaking may access this number
via TTY by calling the toll-free Federal Relay Service at (800) 877-
8339.
SUPPLEMENTARY INFORMATION:
I. Background
Section 111 of the Reauthorization Act (Pub. L. 114-1) requires the
Secretary to submit a report to the Committee on Financial Services of
the House of Representatives and the Committee on Banking, Housing, and
Urban Affairs of the Senate on, among other things, the impact and
effectiveness of TRIP. The report must also include an evaluation of
information that is being separately collected by Treasury, including
certain data appropriate for analyzing the effectiveness of TRIP.
II. Solicitation for Comments
Collecting additional information and views on the matters that
must be addressed in the report to Congress will assist the Secretary
in the formulation of the report and enhance the report's accuracy and
value. Treasury seeks comment from interested parties on all Section
111 elements that must be covered in the report, including comments on:
1. The overall effectiveness of the TRIP;
2. Observed changes or trends relating to matters that Treasury is
collecting data about under Section 111 of the Reauthorization Act;
3. Whether any aspects of TRIP have the effect of discouraging or
impeding insurers from providing commercial property casualty insurance
coverage or coverage for acts of terrorism; and
4. The impact of TRIP on workers' compensation insurers.
In addition to comments on the above, Treasury also seeks comment
from interested parties on:
5. The availability and affordability of terrorism risk insurance
coverage, both nationally and in particular geographic areas; and
6. Other issues relating to TRIP or terrorism insurance or
reinsurance more broadly that may be relevant to Treasury's assessment
of the effectiveness of TRIP.
Michael T. McRaith,
Director, Federal Insurance Office.
[FR Doc. 2016-06795 Filed 3-24-16; 8:45 am]
BILLING CODE 4810-25-P