Proposed Information Collection; Comment Request; Services Surveys: BE-45, Quarterly Survey of Insurance Transactions by U.S. Insurance Companies With Foreign Persons, 31366-31367 [2018-14416]
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Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Proposed Information Collection;
Comment Request; Services Surveys:
BE–45, Quarterly Survey of Insurance
Transactions by U.S. Insurance
Companies With Foreign Persons
Bureau of Economic Analysis,
Department of Commerce.
ACTION: Notice.
AGENCY:
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 September 4,
2018.
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 email at
PRAcomments@doc.gov.
FOR FURTHER INFORMATION CONTACT:
Request for additional information or
copies of the information collection
instrument and instructions should be
directed to Christopher Stein, Chief,
Services Surveys Branch BE–50 (SSB),
Bureau of Economic Analysis, U.S.
Department of Commerce, Washington,
DC 20233; phone: (301) 278–9189; fax:
(301) 278–9507; or via email at
christopher.stein@bea.gov.
SUPPLEMENTARY INFORMATION:
amozie on DSK3GDR082PROD with NOTICES1
SUMMARY:
I. Abstract
The Quarterly Survey of Insurance
Transactions by U.S. Insurance
Companies with Foreign Persons (BE–
45) is one of BEA’s primary data sources
for its estimates of insurance services
exports and imports. A U.S. insurance
company must report if it had
transactions with foreign persons, in
any of the data items covered by the
survey, that exceeded $8 million
(positive or negative) in the prior
calendar year or are expected to exceed
that amount during the current calendar
year.
The data are needed to monitor U.S.
trade in insurance services, to analyze
the impact of these cross-border services
on the U.S. and foreign economies, to
compile and improve the U.S. economic
accounts, to support U.S. commercial
policy on trade in services, to conduct
trade promotion, and to improve the
VerDate Sep<11>2014
16:43 Jul 03, 2018
Jkt 244001
ability of U.S. businesses to identify and
evaluate market opportunities. The data
are used in estimating the insurance
component of the U.S. international
transactions accounts (ITAs) and
national income and product accounts
(NIPAs).
The Bureau of Economic Analysis
(BEA) is proposing one change to the
BE–45 survey to improve the accuracy
of its quarterly statistics on insurance
services exports and imports. The
proposed change is intended to address
the needs of data users without placing
undue burden on survey respondents.
Currently, respondents are required to
report annual data on primary insurance
premiums and losses, reinsurance
losses, and auxiliary insurance services
receipts and payments on Schedule B of
the BE–45 survey on a mandatory basis
in the fourth quarter of the year.
Reporters have the option of voluntarily
providing data on reinsurance losses on
a quarterly basis throughout the year.
However, the irregular approach to
collecting the other information on
Schedule B on an annual basis results
in frequent reporting errors and data
omissions, which requires additional
BEA resources to correct.
Beginning with reporting for first
quarter 2019, BEA is proposing to make
it mandatory for respondents to report
their primary insurance premiums and
losses, reinsurance losses, and auxiliary
insurance services receipts and payment
on Schedule B every quarter. Many
reporters already provide loss
information quarterly, on a voluntary
basis, since it is readily available in
their accounting systems.
For those already providing loss
information voluntarily—roughly 25
percent of reporters—we believe there
will be minimal impact on their
reporting burden for the additional
items collected on Schedule B. For
those not already providing loss
information voluntarily each quarter, we
estimate that the quarterly reporting
burden for this additional detail, and
the information collected for primary
and auxiliary insurance, will result in a
1-hour increase in burden per response,
from 8 to 9 hours. The total respondent
burden estimates have been increased to
reflect this.
The reporting thresholds of the
current BE–45 survey will be retained.
The effort to keep current reporting
thresholds unchanged is intended to
minimize respondent burden while
considering the needs of data users.
Existing language in the instructions
and definitions will be reviewed and
adjusted as necessary to clarify survey
requirements.
PO 00000
Frm 00008
Fmt 4703
Sfmt 4703
II. Method of Collection
BEA contacts potential respondents
by mail at the end of each calendar
quarter. Respondents must file the
completed BE–45 forms within 60 days
after the end of each calendar quarter,
or within 90 days after the close of the
calendar year. Reports are required from
each U.S. insurance company whose
covered transactions with foreign
persons for any of the data items on the
survey exceeded $8 million (positive or
negative) in the prior calendar year, or
are expected to exceed that amount
during the current calendar year.
Entities required to report will be
contacted individually by BEA. Entities
not contacted by BEA have no reporting
responsibilities.
BEA offers its electronic filing option,
the eFile system, for use in reporting on
Form BE–45. For more information
about eFile, go to www.bea.gov/efile. In
addition, BEA posts all its survey forms
and reporting instructions on its
website, www.bea.gov/ssb. These may
be downloaded, completed, printed, and
submitted via fax or mail.
III. Data
OMB Control Number: 0608–0066.
Form Number: BE–45.
Type of Review: Regular submission.
Affected Public: Business or other forprofit organizations.
Estimated Number of Responses:
2,200 annually (550 filed each quarter;
515 reporting mandatory or voluntary
data, and 35 that would not report data).
Estimated Time per Response: 9 hours
is the average for those reporting data.
One hour is the average for those filing
an exemption claim, Hours may vary
considerably among respondents
because of differences in company size
and complexity.
Estimated Total Annual Burden
Hours: 18,680.
Estimated Total Annual Cost to
Public: $0.
Respondent’s Obligation: Mandatory.
Legal Authority: International
Investment and Trade in Services
Survey Act (Pub. L. 94–472, 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
E:\FR\FM\05JYN1.SGM
05JYN1
Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices
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.
Sheleen Dumas,
Departmental Lead PRA Officer, Office of
Chief Information Officer.
[FR Doc. 2018–14416 Filed 7–3–18; 8:45 am]
BILLING CODE 3510–06–P
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Proposed Information Collection;
Comment Request; Services Surveys:
BE–30, Quarterly Survey of Ocean
Freight Revenues and Foreign
Expenses of U.S. Carriers, and the
BE–37, Quarterly Survey of U.S. Airline
Operators’ Foreign Revenues and
Expenses
Bureau of Economic Analysis,
Department of Commerce.
ACTION: Notice.
AGENCY:
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 September 4,
2018.
SUMMARY:
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 email at
PRAcomments@doc.gov.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the information collection
instruments and instructions should be
directed to Christopher Stein, Chief,
Services Surveys Branch (SSB) BE–50,
Bureau of Economic Analysis, U.S.
Department of Commerce, Washington,
DC 20233; phone: (301) 278–9189; fax:
(301) 278–9507; or via email at
christopher.stein@bea.gov.
SUPPLEMENTARY INFORMATION:
amozie on DSK3GDR082PROD with NOTICES1
ADDRESSES:
VerDate Sep<11>2014
16:43 Jul 03, 2018
Jkt 244001
I. Abstract
The Quarterly Survey of Ocean
Freight Revenues and Foreign Expenses
of U.S. Carriers (BE–30) is a survey that
collects data from U.S. ocean freight
carriers (owners and operators) whose
total covered revenues or total covered
expenses incurred outside the United
States were $500,000 or more in the
previous year or are expected to be
$500,000 or more during the current
year. The covered revenues are: (1)
Revenue on cargo outbound from U.S.
ports and the associated shipping
weight; (2) revenue on cargo inbound
into the United States and the
associated shipping weight; (3) revenue
on cross-trade cargoes; (4) charter hire
(with crew) and space leasing revenues
from foreign residents. The covered
expenses are: (1) Fuel expenses in
foreign countries; (2) expenses in
foreign countries other than fuel
expenses; and (3) charter hire (with
crew) and space leasing payments to
foreign residents. A report is not
required from U.S. ocean freight carriers
whose total annual covered revenues
and total annual covered expenses are
below $500,000.
The Quarterly Survey of U.S. Airline
Operators’ Foreign Revenues and
Expenses (BE–37) is a survey that
collects data from U.S. airline operators
engaged in the international
transportation of goods and/or
passengers and whose total covered
revenues or total covered expenses
incurred outside the United States were
$500,000 or more in the previous year
or are expected to be $500,000 or more
during the current year. The covered
revenues are: (1) Revenue derived from
carriage of export freight and express
from the United States to points outside
the United States; (2) revenue derived
from carriage of freight and express
originating from, and destined to, points
outside the United States; (3) revenue
derived from transporting passengers
originating from, and destined to, points
outside the United States; (4) revenue
from transporting passengers to and
from the United States and the
associated number of passengers; (5)
interline settlement receipts from
foreign airline operators. The covered
expenses are: (1) Expenses incurred
outside the United States for fuel and
oil, station and maintenance bases,
wages, and other goods and services
purchased abroad (except aircraft
leasing expenses); (2) aircraft (with
crew) leasing expenses; and (3) interline
settlement payments to foreign airline
operators. A report is not required from
U.S. airline operators whose total
annual covered revenues and total
PO 00000
Frm 00009
Fmt 4703
Sfmt 4703
31367
annual covered expenses are below
$500,000.
The data collected on these surveys
are needed to monitor U.S. trade in
transport services to analyze the impact
of U.S. trade on the U.S. and foreign
economies, to compile and improve the
U.S. economic accounts, to support U.S.
commercial policy on trade in transport
services, to conduct trade promotion,
and to improve the ability of U.S.
businesses to identify and evaluate
market opportunities. The data are used
in estimating the transport component
of the U.S. international transactions
accounts (ITAs) and national income
and product accounts (NIPAs).
The Bureau of Economic Analysis
(BEA) is proposing no additions,
modifications, or deletions to the
current BE–30 and BE–37 surveys to
minimize respondent burden while
considering the needs of data users.
Existing language in the instructions
and definitions will be reviewed and
adjusted as necessary to clarify survey
requirements.
II. Method of Collection
BEA contacts potential respondents
by mail at the end of each calendar
quarter. Respondents must file
completed BE–30 and BE–37 forms
within 45 days after the end of each
calendar quarter. A BE–30 report is
required from U.S. ocean freight carriers
(owners and operators) whose total
covered revenues or total covered
expenses incurred outside the United
States were $500,000 or more in the
previous year or are expected to be
$500,000 or more during the current
year. A BE–37 report is required from
U.S. airline operators engaged in the
international transportation of goods
and/or passengers and whose total
covered revenues or total covered
expenses incurred outside the United
States were $500,000 or more in the
previous year or are expected to be
$500,000 or more during the current
year. Entities required to report will be
contacted individually by BEA. Entities
not contacted by BEA have no reporting
responsibilities.
BEA offers electronic filing through
its eFile system for use in reporting on
the BE–30 and BE–37 quarterly survey
forms. For more information about
eFile, go to www.bea.gov/efile. In
addition, BEA posts all its survey forms
and reporting instructions on its
website, www.bea.gov/ssb. These may
be downloaded, completed, printed, and
submitted via fax or mail.
III. Data
OMB Control Number: 0608–0011.
Form Number: BE–30 and BE–37.
E:\FR\FM\05JYN1.SGM
05JYN1
]]>Agencies
[Federal Register Volume 83, Number 129 (Thursday, July 5, 2018)]
[Notices]
[Pages 31366-31367]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-14416]
[[Page 31366]]
-----------------------------------------------------------------------
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Proposed Information Collection; Comment Request; Services
Surveys: BE-45, Quarterly Survey of Insurance Transactions by U.S.
Insurance Companies With Foreign Persons
AGENCY: Bureau of Economic Analysis, Department of Commerce.
ACTION: Notice.
-----------------------------------------------------------------------
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 September 4,
2018.
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 email at
[email protected].
FOR FURTHER INFORMATION CONTACT: Request for additional information or
copies of the information collection instrument and instructions should
be directed to Christopher Stein, Chief, Services Surveys Branch BE-50
(SSB), Bureau of Economic Analysis, U.S. Department of Commerce,
Washington, DC 20233; phone: (301) 278-9189; fax: (301) 278-9507; or
via email at [email protected].
SUPPLEMENTARY INFORMATION:
I. Abstract
The Quarterly Survey of Insurance Transactions by U.S. Insurance
Companies with Foreign Persons (BE-45) is one of BEA's primary data
sources for its estimates of insurance services exports and imports. A
U.S. insurance company must report if it had transactions with foreign
persons, in any of the data items covered by the survey, that exceeded
$8 million (positive or negative) in the prior calendar year or are
expected to exceed that amount during the current calendar year.
The data are needed to monitor U.S. trade in insurance services, to
analyze the impact of these cross-border services on the U.S. and
foreign economies, to compile and improve the U.S. economic accounts,
to support U.S. commercial policy on trade in services, to conduct
trade promotion, and to improve the ability of U.S. businesses to
identify and evaluate market opportunities. The data are used in
estimating the insurance component of the U.S. international
transactions accounts (ITAs) and national income and product accounts
(NIPAs).
The Bureau of Economic Analysis (BEA) is proposing one change to
the BE-45 survey to improve the accuracy of its quarterly statistics on
insurance services exports and imports. The proposed change is intended
to address the needs of data users without placing undue burden on
survey respondents.
Currently, respondents are required to report annual data on
primary insurance premiums and losses, reinsurance losses, and
auxiliary insurance services receipts and payments on Schedule B of the
BE-45 survey on a mandatory basis in the fourth quarter of the year.
Reporters have the option of voluntarily providing data on reinsurance
losses on a quarterly basis throughout the year. However, the irregular
approach to collecting the other information on Schedule B on an annual
basis results in frequent reporting errors and data omissions, which
requires additional BEA resources to correct.
Beginning with reporting for first quarter 2019, BEA is proposing
to make it mandatory for respondents to report their primary insurance
premiums and losses, reinsurance losses, and auxiliary insurance
services receipts and payment on Schedule B every quarter. Many
reporters already provide loss information quarterly, on a voluntary
basis, since it is readily available in their accounting systems.
For those already providing loss information voluntarily--roughly
25 percent of reporters--we believe there will be minimal impact on
their reporting burden for the additional items collected on Schedule
B. For those not already providing loss information voluntarily each
quarter, we estimate that the quarterly reporting burden for this
additional detail, and the information collected for primary and
auxiliary insurance, will result in a 1-hour increase in burden per
response, from 8 to 9 hours. The total respondent burden estimates have
been increased to reflect this.
The reporting thresholds of the current BE-45 survey will be
retained. The effort to keep current reporting thresholds unchanged is
intended to minimize respondent burden while considering the needs of
data users. Existing language in the instructions and definitions will
be reviewed and adjusted as necessary to clarify survey requirements.
II. Method of Collection
BEA contacts potential respondents by mail at the end of each
calendar quarter. Respondents must file the completed BE-45 forms
within 60 days after the end of each calendar quarter, or within 90
days after the close of the calendar year. Reports are required from
each U.S. insurance company whose covered transactions with foreign
persons for any of the data items on the survey exceeded $8 million
(positive or negative) in the prior calendar year, or are expected to
exceed that amount during the current calendar year. Entities required
to report will be contacted individually by BEA. Entities not contacted
by BEA have no reporting responsibilities.
BEA offers its electronic filing option, the eFile system, for use
in reporting on Form BE-45. For more information about eFile, go to
www.bea.gov/efile. In addition, BEA posts all its survey forms and
reporting instructions on its website, www.bea.gov/ssb. These may be
downloaded, completed, printed, and submitted via fax or mail.
III. Data
OMB Control Number: 0608-0066.
Form Number: BE-45.
Type of Review: Regular submission.
Affected Public: Business or other for-profit organizations.
Estimated Number of Responses: 2,200 annually (550 filed each
quarter; 515 reporting mandatory or voluntary data, and 35 that would
not report data).
Estimated Time per Response: 9 hours is the average for those
reporting data. One hour is the average for those filing an exemption
claim, Hours may vary considerably among respondents because of
differences in company size and complexity.
Estimated Total Annual Burden Hours: 18,680.
Estimated Total Annual Cost to Public: $0.
Respondent's Obligation: Mandatory.
Legal Authority: International Investment and Trade in Services
Survey Act (Pub. L. 94-472, 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
[[Page 31367]]
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.
Sheleen Dumas,
Departmental Lead PRA Officer, Office of Chief Information Officer.
[FR Doc. 2018-14416 Filed 7-3-18; 8:45 am]
BILLING CODE 3510-06-P
