2019 Data Call Under the Terrorism Risk Insurance Program, 13392-13394 [2019-06618]
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13392
Federal Register / Vol. 84, No. 65 / Thursday, April 4, 2019 / Notices
members will serve a three-year term
starting in December 2019. (Note:
Highly-ranked applicants not selected as
members may be placed on a roster of
alternates who will be eligible to fill
future vacancies that may occur on the
Panel.)
Questions regarding the selection of
TAP members may be directed to Lisa
Billups, Taxpayer Advocacy Panel,
Internal Revenue Service, 1111
Constitution Avenue NW, TA:TAP
Room 1509, Washington, DC 20224, or
214–413–6523 (not a toll-free call).
Dated: March 29, 2019.
Kevin Brown,
Acting Director, Taxpayer Advocacy Panel.
[FR Doc. 2019–06541 Filed 4–3–19; 8:45 am]
BILLING CODE P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 1099–MISC
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Internal Revenue Service,
as part of its continuing effort to reduce
paperwork and respondent burden,
invites the general public and other
Federal agencies to take this
opportunity to comment on information
collections, as required by the
Paperwork Reduction Act of 1995. The
IRS is soliciting comments concerning
Form 1099–MISC, Miscellaneous
Income.
SUMMARY:
Written comments should be
received on or before June 3, 2019 to be
assured of consideration.
ADDRESSES: Direct all written comments
to L. Brimmer, Internal Revenue
Service, Room 6526, 1111 Constitution
Avenue NW, Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of this collection should be
directed to Sara Covington, (202) 317–
6038, at Internal Revenue Service, Room
6526, 1111 Constitution Avenue NW,
Washington, DC 20224, or through the
internet at sara.l.covington@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Miscellaneous Income.
OMB Number: 1545–0115.
Form Number: 1099–MISC.
Abstract: Form 1099–MISC is used by
payers to report payments of $600 or
more of rents, prizes and awards,
medical and health care payments,
nonemployee compensation, and crop
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DATES:
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insurance proceeds, $10 or more of
royalties, any amount of fishing boat
proceeds, certain substitute payments,
golden parachute payments, and an
indication of direct sales of $5,000 or
more.
Current Actions: There is no change
in the paperwork burden previously
approved by OMB.
Type of Review: Extension of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
99,447,800.
Estimated Time per Respondent: 18
min.
Estimated Total Annual Burden
Hours: 30,828,818.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments are invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
agency, including whether the
information shall have practical utility;
(b) the accuracy of the agency’s estimate
of the burden of the collection of
information; (c) ways to enhance the
quality, utility, and clarity of the
information to be collected; (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; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: March 28, 2019.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2019–06573 Filed 4–3–19; 8:45 am]
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2019 Data Call Under the Terrorism
Risk Insurance Program
Departmental Offices, U.S.
Department of the Treasury.
AGENCY:
ACTION:
Data Collection.
Pursuant to the Terrorism
Risk Insurance Act of 2002 (TRIA),
insurers that participate in the
Terrorism Risk Insurance Program (TRIP
or Program) are directed to submit
information for the 2019 TRIP Data Call
for the reporting period from January 1,
2018 to December 31, 2018.
Participating insurers are required to
register and report information in a
series of forms approved by the Office
of Management and Budget (OMB). All
insurers writing commercial property
and casualty insurance in lines subject
to TRIP must respond to this data call
no later than May 15, 2019, subject to
certain exceptions identified in this
notice.
SUMMARY:
Participating insurers must
register and submit data no later than
May 15, 2019.
DATES:
Participating insurers will
register through a website that has been
established for this data call. After
registration, insurers will receive data
collection forms through a secure file
transfer portal, and they will submit the
requested data through the same secure
portal. Participating insurers can
register for the 2019 TRIP Data Call at
https://tripsection111data.com/.
Additional information about the data
call, including sample data collection
forms and instructions, can be found on
the TRIP website at https://
www.treasury.gov/resource-center/finmkts/Pages/TRIP_data.aspx.
ADDRESSES:
FOR FURTHER INFORMATION CONTACT:
Richard Ifft, Senior Insurance
Regulatory Policy Analyst, Federal
Insurance Office, Room 1410 MT,
Department of the Treasury, 1500
Pennsylvania Avenue NW, Washington,
DC 20220, at (202) 622–2922 (this is not
a toll-free number), or Lindsey Baldwin,
Senior Policy Analyst, Federal
Insurance Office, Room 1410 MT,
Department of the Treasury, 1500
Pennsylvania Avenue NW, Washington,
DC 20220, at (202) 622–3220 (this is not
a toll-free number). Persons who have
difficulty hearing or speaking may
access these numbers via TTY by calling
the toll-free Federal Relay Service at
(800) 877–8339.
SUPPLEMENTARY INFORMATION:
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DEPARTMENT OF THE TREASURY
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Federal Register / Vol. 84, No. 65 / Thursday, April 4, 2019 / Notices
I. Background
TRIA 1 created the Program within the
U.S. Department of the Treasury
(Treasury) 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 market 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 (2015
Reauthorization Act).2 Section 111 of
the 2015 Reauthorization Act 3 (Section
111) requires the Secretary of the
Treasury (Secretary) to perform periodic
analyses of the Program. In order to
assist the Secretary with this process,
Section 111 requires insurers to submit
on an annual basis certain insurance
data and information regarding their
participation in the Program.4 The
Federal Insurance Office (FIO) is
authorized to assist the Secretary in the
administration of the Program,5
including conducting the annual data
call.
On November 9, 2018, Treasury
published the data collection forms that
it proposed to use in the 2019 TRIP Data
Call, and invited the public to provide
comments concerning these forms.6
Treasury received two comments.7 In
response, and as discussed further
below, Treasury has made a number of
modifications to the forms and
instructions. OMB has approved the use
of these forms under Control Number
1505–0257.
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II. Changes to 2019 Data Call
For purposes of the 2019 TRIP Data
Call, FIO, state insurance regulators, and
the National Association of Insurance
Commissioners (NAIC) will again utilize
the consolidated data call mechanism
first developed for use in the 2018 TRIP
Data Call. This approach relies upon
1 Public Law 107–297, 116 Stat. 2322, codified at
15 U.S.C. 6701, note. Because the provisions of
TRIA (as amended) appear in a note, instead of
particular sections, of the United States Code, the
provisions of TRIA are identified by the sections of
the law.
2 Public Law 114–1, 129 Stat. 3.
3 TRIA sec. 104(h).
4 Treasury regulations also address the annual
data collection requirement. See 31 CFR 50.51,
50.54.
5 31 U.S.C. 313(c)(1)(D).
6 83 FR 56152 (Nov. 9, 2018).
7 Treasury received comments from the Sentry
Insurance Group and AIR Worldwide. The
comments are available at https://
www.regulations.gov/docket?D=TREAS-TRIP-20180026.
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four (4) joint reporting templates—to be
completed by Small Insurers, Non-Small
Insurers, Alien Surplus Lines Insurers,
and Captive Insurers, as identified
further below—and is designed to
satisfy the regulatory objectives of both
Treasury and state insurance regulators.
Additionally, the joint reporting
templates reduce burden on
participating insurers. State insurance
regulators and/or the NAIC will provide
separate notification regarding the
reporting of information into the state
reporting portal, including any
supplemental information reporting
requirements to state insurance
regulators separate from what is
required by Treasury.
A. Reporting Process
Insurers subject to the consolidated
data call will report on a group basis,
unless they are not part of a group, in
which case they will report on an
individual company basis. For the 2019
Data Call, Treasury will again work with
the National Council on Compensation
Insurance (NCCI), the California
Workers’ Compensation Insurance
Rating Bureau (California WCIRB), and
the New York Compensation Insurance
Rating Board (NYCIRB) to provide
(either directly or through other
workers’ compensation rating bureaus),
on behalf of participating insurers, the
workers’ compensation insurance
elements of the data call relating to
premium and payroll information. The
data aggregator used by Treasury will
provide such insurers with reporting
templates that do not require them to
report this workers’ compensation data.
Reporting insurers that only write
workers’ compensation policies are still
required to register for the data call,
provide general company information,
and provide data related to private
reinsurance. The data received from
NCCI, the California WCIRB, and/or the
NYCIRB will be merged with the
information provided by the insurers.
B. Reporting Templates
There are two principal changes to the
reporting templates from the 2018 TRIP
Data Call. First, the exposures
worksheet, which is included within all
four reporting templates, has been
modified to include questions seeking
information on policy limits for nuclear,
biological, chemical, and radiological
(NBCR) exposures, as a subset of the
total reported policy limits covering
terrorism risk. Second, a new modeled
loss question (which includes an NBCR
component) is included on the
reinsurance worksheet that will be
completed by non-small insurers, alien
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Sfmt 4703
13393
surplus lines insurers, and captive
insurers.8
The comments received posed a
number of questions concerning the
manner of reporting contemplated
under the proposed reporting templates,
including the connection between the
federal and state data calls. Although
the comments concerning the manner of
reporting did not indicate any changes
to the forms or instructions that should
be made, Treasury will provide further
instructions concerning the completion
of the forms through webinars that it
will conduct, particularly in connection
with the new data elements for NBCR
insurance limits. In addition, Treasury
has made minor changes to the forms as
originally proposed to correct
typographical errors and to make
language consistent across forms.
Furthermore, one comment suggested
a number of changes to the modeled loss
question. In response to this comment,
Treasury made a number of changes to
the modeled loss question, designed to
make it easier for reporting insurers to
respond to the hypothetical scenario
presented.
There are also a number of template
changes required by the Program
regulations that are specific to
individual insurer categories. For the
2019 TRIP Data Call, an insurer will
qualify as a small insurer if it had both
2017 policyholder surplus of less than
$800 million and 2017 direct earned
premiums in TRIP-eligible lines of
insurance of less than $800 million.9 Of
this group, small insurers with TRIPeligible direct earned premiums of less
than $10 million in 2018 will be exempt
from the 2019 TRIP Data Call.10 Neither
captive insurers nor alien surplus lines
insurers are eligible for this reporting
exemption. Insurers defined as small
insurers for the 2019 Data Call will
report the same information to Treasury
(on a group basis) and state insurance
regulators (also on a group basis), except
as state insurance regulators may
8 See generally 83 FR 56152, 56152–53 (Nov. 9,
2018). Small insurers complete a separate
reinsurance worksheet that does not contain a
modeled loss question.
9 Small insurers are defined in 31 CFR 50.4(z) as
insurers (or an affiliated group of insurers) whose
policyholder surplus for the immediately preceding
year is less than five times the Program Trigger for
the current year, and whose TRIP-eligible lines
direct earned premium for the previous year is also
five times less than the Program Trigger.
Accordingly, for the 2019 Data Call, an insurer
qualifies as a small insurer if its 2017 policyholder
surplus and 2017 direct earned premium are less
than five times the 2018 Program Trigger of $160
million.
10 Individual insurers with less than $10 million
in TRIP-eligible lines direct earned premium that
are part of a larger group must still report as part
of the group as a whole, if the group’s TRIP-eligible
lines direct earned premium is over $10 million.
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Federal Register / Vol. 84, No. 65 / Thursday, April 4, 2019 / Notices
separately direct for purposes of the
state data call.
The non-small insurer template will
be completed by insurance groups (or
individual insurers not affiliated with a
group) that had either a 2017
policyholder surplus of greater than
$800 million or 2017 direct earned
premium in TRIP-eligible lines of
insurance equal to or greater than $800
million, and that are not subject to
reporting on the captive insurer or alien
surplus lines insurer reporting
templates. Otherwise, insurers defined
as non-small insurers for the 2019 Data
Call will report the same information to
Treasury (on a group basis) and state
insurance regulators (also on a group
basis), except as state insurance
regulators may separately direct for
purposes of the state data call.
The reporting template for captive
insurers does not contain additional
changes specific to those insurers.
Captive insurers are defined in 31 CFR
50.4(g) as insurers licensed under the
captive insurance laws or regulations of
any state. Captive insurers that wrote
policies in TRIP-eligible lines of
insurance during the reporting period
are required to register and submit data
to Treasury, unless they did not provide
their insureds with any terrorism risk
insurance subject to the Program.
The reporting template for alien
surplus lines insurers does not contain
additional changes specific to those
insurers. Alien surplus lines insurers
are defined in 31 CFR 50.4(o)(1)(i)(B) as
insurers not licensed or admitted to
engage in the business of providing
primary or excess insurance in any
state, but that are eligible surplus line
insurers listed on the NAIC Quarterly
Listing of Alien Insurers. Alien surplus
lines insurers that are part of a larger
group classified as a non-small insurer
or a small insurer should report to
Treasury as part of the group, using the
appropriate template. Therefore, the
alien surplus lines insurer template
should only be used by an alien surplus
lines insurer that is not part of a larger
group subject to the 2019 Data Call.
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C. Supplemental Reference Documents
Treasury will continue to make
available on its data collection website
(https://www.treasury.gov/resourcecenter/fin-mkts/Pages/TRIP_data.aspx)
documents providing a complete ZIP
code listing for areas subject to reporting
on the Geographic Exposures
(Nationwide) worksheet, as well as
several hypothetical policy reporting
scenarios.
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D. Training Webinars
As in prior years, Treasury will hold
four (4) separate training sessions
corresponding to the four reporting
templates that will be used by insurers
(Alien Surplus Lines Insurers, Captive
Insurers, Insurer (Non-Small) Groups or
Companies, and Small Insurers). The
webinars will be held on April 9 and
April 10, 2019 to assist reporting
insurers in responding to the proposed
collection, with each webinar focusing
on a specific reporting template.
Specific times and details concerning
participation in the webinar will be
made available on the TRIP data
collection website, and recordings of
each webinar will be made available on
the website following each training
session.
III. 2019 TRIP Data Call
For the 2019 TRIP Data Call, which
covers the reporting period of January 1,
2018 to December 31, 2018, Treasury
will continue to use four different data
collection templates.11 Insurers will fill
out the template for ‘‘Insurer (NonSmall) Groups or Companies,’’ unless
the insurer meets the definition of a
small insurer, captive insurer, or alien
surplus insurer, as set forth in 31 CFR
50.4. Such small insurers, captive
insurers, and alien surplus lines
insurers are required to complete an
alternate template.
Treasury, through an insurance
statistical aggregator, will accept group
or insurer registration forms through
https://tripsection111data.com/. Upon
registration, the aggregator will transmit
individualized data collection forms (in
Excel format) to the reporting group or
insurer via a secure file transfer portal.
The reporting group or insurer may
transmit a complete data submission via
the same portal using either the
provided Excel forms or a .csv file.12
Copies of the instructions and data
collection forms are available on
Treasury’s website in read-only format.
Reporting insurers will obtain the
fillable reporting forms directly from the
data aggregator after registering for the
data collection process.
Reporting insurers are required to
register and submit complete data to
Treasury no later than May 15, 2019.
Because of the timing and content of
Treasury’s 2019 report to Congress, no
extensions will be granted. Reporting
insurers can ask the data aggregator
questions about registration, form
completion, and submission through
11 See
31 CFR 50.51(c).
for submission of data using a
.csv file will be provided to the insurer by the
aggregator.
12 Specifications
PO 00000
Frm 00152
Fmt 4703
Sfmt 9990
tripsection111data@iso.com. Treasury,
as identified above, may also be
contacted directly with questions.
Questions regarding submission of data
to state insurance regulators or the
property supplement should be directed
to the appropriate state insurance
regulator or the NAIC.
All data submitted to the aggregator is
subject to the confidentiality and data
protection provisions of TRIA and the
Program Rules, as well as to section 552
of title 5, United States Code, including
any exceptions thereunder. In
accordance with the Paperwork
Reduction Act, (44 U.S.C. 3501 et seq.),
the information collected through the
web portal has been approved by OMB
under Control Number 1505–0257. An
agency may not conduct or sponsor and
a person is not required to respond to
a collection of information unless it
displays a valid OMB control number.
Dated: March 29, 2019.
Steven E. Seitz,
Director, Federal Insurance Office.
[FR Doc. 2019–06618 Filed 4–3–19; 8:45 am]
BILLING CODE 4810–25–P
UNITED STATES INSTITUTE OF
PEACE
Notice of Meeting
Agency: United States Institute of
Peace.
Date/Time: Friday, April 12, 2019
(10:00 a.m.–12:30 p.m.)
Location: 2301 Constitution Avenue
NW, Washington, DC 20037.
Status: Open Session—Portions may
be closed pursuant to Subsection (c) of
Section 552(b) of Title 5, United States
Code, as provided in subsection
1706(h)(3) of the United States Institute
of Peace Act, Public Law 98–525.
Agenda: April 12, 2019 Board
Meeting: Chairman’s Report; Vice
Chairman’s Report; President’s Report;
Approval of Minutes of the October 19,
2018 Board of Directors Meeting;
Reports from USIP Board Committees;
Updates from the field; and Update on
the Justice and Security Dialogue
Program.
Contact: Nancy Lindborg, President:
nlindborg@usip.org.
Dated: March 29, 2019.
Nancy Lindborg,
President.
[FR Doc. 2019–06579 Filed 4–3–19; 8:45 am]
BILLING CODE 6820–AR–P
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Agencies
[Federal Register Volume 84, Number 65 (Thursday, April 4, 2019)]
[Notices]
[Pages 13392-13394]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-06618]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
2019 Data Call Under the Terrorism Risk Insurance Program
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Data Collection.
-----------------------------------------------------------------------
SUMMARY: Pursuant to the Terrorism Risk Insurance Act of 2002 (TRIA),
insurers that participate in the Terrorism Risk Insurance Program (TRIP
or Program) are directed to submit information for the 2019 TRIP Data
Call for the reporting period from January 1, 2018 to December 31,
2018. Participating insurers are required to register and report
information in a series of forms approved by the Office of Management
and Budget (OMB). All insurers writing commercial property and casualty
insurance in lines subject to TRIP must respond to this data call no
later than May 15, 2019, subject to certain exceptions identified in
this notice.
DATES: Participating insurers must register and submit data no later
than May 15, 2019.
ADDRESSES: Participating insurers will register through a website that
has been established for this data call. After registration, insurers
will receive data collection forms through a secure file transfer
portal, and they will submit the requested data through the same secure
portal. Participating insurers can register for the 2019 TRIP Data Call
at https://tripsection111data.com/. Additional information about the
data call, including sample data collection forms and instructions, can
be found on the TRIP website at https://www.treasury.gov/resource-center/fin-mkts/Pages/TRIP_data.aspx.
FOR FURTHER INFORMATION CONTACT: Richard Ifft, Senior Insurance
Regulatory Policy Analyst, Federal Insurance Office, Room 1410 MT,
Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC
20220, at (202) 622-2922 (this is not a toll-free number), or Lindsey
Baldwin, Senior Policy Analyst, Federal Insurance Office, Room 1410 MT,
Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC
20220, at (202) 622-3220 (this is not a toll-free number). Persons who
have difficulty hearing or speaking may access these numbers via TTY by
calling the toll-free Federal Relay Service at (800) 877-8339.
SUPPLEMENTARY INFORMATION:
[[Page 13393]]
I. Background
TRIA \1\ created the Program within the U.S. Department of the
Treasury (Treasury) 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 market 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 (2015 Reauthorization Act).\2\ Section 111 of the 2015
Reauthorization Act \3\ (Section 111) requires the Secretary of the
Treasury (Secretary) to perform periodic analyses of the Program. In
order to assist the Secretary with this process, Section 111 requires
insurers to submit on an annual basis certain insurance data and
information regarding their participation in the Program.\4\ The
Federal Insurance Office (FIO) is authorized to assist the Secretary in
the administration of the Program,\5\ including conducting the annual
data call.
---------------------------------------------------------------------------
\1\ Public Law 107-297, 116 Stat. 2322, codified at 15 U.S.C.
6701, note. Because the provisions of TRIA (as amended) appear in a
note, instead of particular sections, of the United States Code, the
provisions of TRIA are identified by the sections of the law.
\2\ Public Law 114-1, 129 Stat. 3.
\3\ TRIA sec. 104(h).
\4\ Treasury regulations also address the annual data collection
requirement. See 31 CFR 50.51, 50.54.
\5\ 31 U.S.C. 313(c)(1)(D).
---------------------------------------------------------------------------
On November 9, 2018, Treasury published the data collection forms
that it proposed to use in the 2019 TRIP Data Call, and invited the
public to provide comments concerning these forms.\6\ Treasury received
two comments.\7\ In response, and as discussed further below, Treasury
has made a number of modifications to the forms and instructions. OMB
has approved the use of these forms under Control Number 1505-0257.
---------------------------------------------------------------------------
\6\ 83 FR 56152 (Nov. 9, 2018).
\7\ Treasury received comments from the Sentry Insurance Group
and AIR Worldwide. The comments are available at https://www.regulations.gov/docket?D=TREAS-TRIP-2018-0026.
---------------------------------------------------------------------------
II. Changes to 2019 Data Call
For purposes of the 2019 TRIP Data Call, FIO, state insurance
regulators, and the National Association of Insurance Commissioners
(NAIC) will again utilize the consolidated data call mechanism first
developed for use in the 2018 TRIP Data Call. This approach relies upon
four (4) joint reporting templates--to be completed by Small Insurers,
Non-Small Insurers, Alien Surplus Lines Insurers, and Captive Insurers,
as identified further below--and is designed to satisfy the regulatory
objectives of both Treasury and state insurance regulators.
Additionally, the joint reporting templates reduce burden on
participating insurers. State insurance regulators and/or the NAIC will
provide separate notification regarding the reporting of information
into the state reporting portal, including any supplemental information
reporting requirements to state insurance regulators separate from what
is required by Treasury.
A. Reporting Process
Insurers subject to the consolidated data call will report on a
group basis, unless they are not part of a group, in which case they
will report on an individual company basis. For the 2019 Data Call,
Treasury will again work with the National Council on Compensation
Insurance (NCCI), the California Workers' Compensation Insurance Rating
Bureau (California WCIRB), and the New York Compensation Insurance
Rating Board (NYCIRB) to provide (either directly or through other
workers' compensation rating bureaus), on behalf of participating
insurers, the workers' compensation insurance elements of the data call
relating to premium and payroll information. The data aggregator used
by Treasury will provide such insurers with reporting templates that do
not require them to report this workers' compensation data. Reporting
insurers that only write workers' compensation policies are still
required to register for the data call, provide general company
information, and provide data related to private reinsurance. The data
received from NCCI, the California WCIRB, and/or the NYCIRB will be
merged with the information provided by the insurers.
B. Reporting Templates
There are two principal changes to the reporting templates from the
2018 TRIP Data Call. First, the exposures worksheet, which is included
within all four reporting templates, has been modified to include
questions seeking information on policy limits for nuclear, biological,
chemical, and radiological (NBCR) exposures, as a subset of the total
reported policy limits covering terrorism risk. Second, a new modeled
loss question (which includes an NBCR component) is included on the
reinsurance worksheet that will be completed by non-small insurers,
alien surplus lines insurers, and captive insurers.\8\
---------------------------------------------------------------------------
\8\ See generally 83 FR 56152, 56152-53 (Nov. 9, 2018). Small
insurers complete a separate reinsurance worksheet that does not
contain a modeled loss question.
---------------------------------------------------------------------------
The comments received posed a number of questions concerning the
manner of reporting contemplated under the proposed reporting
templates, including the connection between the federal and state data
calls. Although the comments concerning the manner of reporting did not
indicate any changes to the forms or instructions that should be made,
Treasury will provide further instructions concerning the completion of
the forms through webinars that it will conduct, particularly in
connection with the new data elements for NBCR insurance limits. In
addition, Treasury has made minor changes to the forms as originally
proposed to correct typographical errors and to make language
consistent across forms.
Furthermore, one comment suggested a number of changes to the
modeled loss question. In response to this comment, Treasury made a
number of changes to the modeled loss question, designed to make it
easier for reporting insurers to respond to the hypothetical scenario
presented.
There are also a number of template changes required by the Program
regulations that are specific to individual insurer categories. For the
2019 TRIP Data Call, an insurer will qualify as a small insurer if it
had both 2017 policyholder surplus of less than $800 million and 2017
direct earned premiums in TRIP-eligible lines of insurance of less than
$800 million.\9\ Of this group, small insurers with TRIP-eligible
direct earned premiums of less than $10 million in 2018 will be exempt
from the 2019 TRIP Data Call.\10\ Neither captive insurers nor alien
surplus lines insurers are eligible for this reporting exemption.
Insurers defined as small insurers for the 2019 Data Call will report
the same information to Treasury (on a group basis) and state insurance
regulators (also on a group basis), except as state insurance
regulators may
[[Page 13394]]
separately direct for purposes of the state data call.
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\9\ Small insurers are defined in 31 CFR 50.4(z) as insurers (or
an affiliated group of insurers) whose policyholder surplus for the
immediately preceding year is less than five times the Program
Trigger for the current year, and whose TRIP-eligible lines direct
earned premium for the previous year is also five times less than
the Program Trigger. Accordingly, for the 2019 Data Call, an insurer
qualifies as a small insurer if its 2017 policyholder surplus and
2017 direct earned premium are less than five times the 2018 Program
Trigger of $160 million.
\10\ Individual insurers with less than $10 million in TRIP-
eligible lines direct earned premium that are part of a larger group
must still report as part of the group as a whole, if the group's
TRIP-eligible lines direct earned premium is over $10 million.
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The non-small insurer template will be completed by insurance
groups (or individual insurers not affiliated with a group) that had
either a 2017 policyholder surplus of greater than $800 million or 2017
direct earned premium in TRIP-eligible lines of insurance equal to or
greater than $800 million, and that are not subject to reporting on the
captive insurer or alien surplus lines insurer reporting templates.
Otherwise, insurers defined as non-small insurers for the 2019 Data
Call will report the same information to Treasury (on a group basis)
and state insurance regulators (also on a group basis), except as state
insurance regulators may separately direct for purposes of the state
data call.
The reporting template for captive insurers does not contain
additional changes specific to those insurers. Captive insurers are
defined in 31 CFR 50.4(g) as insurers licensed under the captive
insurance laws or regulations of any state. Captive insurers that wrote
policies in TRIP-eligible lines of insurance during the reporting
period are required to register and submit data to Treasury, unless
they did not provide their insureds with any terrorism risk insurance
subject to the Program.
The reporting template for alien surplus lines insurers does not
contain additional changes specific to those insurers. Alien surplus
lines insurers are defined in 31 CFR 50.4(o)(1)(i)(B) as insurers not
licensed or admitted to engage in the business of providing primary or
excess insurance in any state, but that are eligible surplus line
insurers listed on the NAIC Quarterly Listing of Alien Insurers. Alien
surplus lines insurers that are part of a larger group classified as a
non-small insurer or a small insurer should report to Treasury as part
of the group, using the appropriate template. Therefore, the alien
surplus lines insurer template should only be used by an alien surplus
lines insurer that is not part of a larger group subject to the 2019
Data Call.
C. Supplemental Reference Documents
Treasury will continue to make available on its data collection
website (https://www.treasury.gov/resource-center/fin-mkts/Pages/TRIP_data.aspx) documents providing a complete ZIP code listing for
areas subject to reporting on the Geographic Exposures (Nationwide)
worksheet, as well as several hypothetical policy reporting scenarios.
D. Training Webinars
As in prior years, Treasury will hold four (4) separate training
sessions corresponding to the four reporting templates that will be
used by insurers (Alien Surplus Lines Insurers, Captive Insurers,
Insurer (Non-Small) Groups or Companies, and Small Insurers). The
webinars will be held on April 9 and April 10, 2019 to assist reporting
insurers in responding to the proposed collection, with each webinar
focusing on a specific reporting template. Specific times and details
concerning participation in the webinar will be made available on the
TRIP data collection website, and recordings of each webinar will be
made available on the website following each training session.
III. 2019 TRIP Data Call
For the 2019 TRIP Data Call, which covers the reporting period of
January 1, 2018 to December 31, 2018, Treasury will continue to use
four different data collection templates.\11\ Insurers will fill out
the template for ``Insurer (Non-Small) Groups or Companies,'' unless
the insurer meets the definition of a small insurer, captive insurer,
or alien surplus insurer, as set forth in 31 CFR 50.4. Such small
insurers, captive insurers, and alien surplus lines insurers are
required to complete an alternate template.
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\11\ See 31 CFR 50.51(c).
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Treasury, through an insurance statistical aggregator, will accept
group or insurer registration forms through https://tripsection111data.com/. Upon registration, the aggregator will
transmit individualized data collection forms (in Excel format) to the
reporting group or insurer via a secure file transfer portal. The
reporting group or insurer may transmit a complete data submission via
the same portal using either the provided Excel forms or a .csv
file.\12\
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\12\ Specifications for submission of data using a .csv file
will be provided to the insurer by the aggregator.
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Copies of the instructions and data collection forms are available
on Treasury's website in read-only format. Reporting insurers will
obtain the fillable reporting forms directly from the data aggregator
after registering for the data collection process.
Reporting insurers are required to register and submit complete
data to Treasury no later than May 15, 2019. Because of the timing and
content of Treasury's 2019 report to Congress, no extensions will be
granted. Reporting insurers can ask the data aggregator questions about
registration, form completion, and submission through
[email protected]. Treasury, as identified above, may also be
contacted directly with questions. Questions regarding submission of
data to state insurance regulators or the property supplement should be
directed to the appropriate state insurance regulator or the NAIC.
All data submitted to the aggregator is subject to the
confidentiality and data protection provisions of TRIA and the Program
Rules, as well as to section 552 of title 5, United States Code,
including any exceptions thereunder. In accordance with the Paperwork
Reduction Act, (44 U.S.C. 3501 et seq.), the information collected
through the web portal has been approved by OMB under Control Number
1505-0257. An agency may not conduct or sponsor and a person is not
required to respond to a collection of information unless it displays a
valid OMB control number.
Dated: March 29, 2019.
Steven E. Seitz,
Director, Federal Insurance Office.
[FR Doc. 2019-06618 Filed 4-3-19; 8:45 am]
BILLING CODE 4810-25-P