2023 Terrorism Risk Insurance Program Data Call, 18632-18634 [2023-06422]

Download as PDF 18632 Federal Register / Vol. 88, No. 60 / Wednesday, March 29, 2023 / Notices DEPARTMENT OF THE TREASURY I. Background 2023 Terrorism Risk Insurance Program Data Call 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, and was most recently extended until December 31, 2027.2 TRIA requires the Secretary of the Treasury (Secretary) to collect certain insurance data and information from insurers on an annual basis regarding their participation in the Program.3 TRIA also requires the Secretary to prepare a biennial study on the competitiveness of small insurers in the terrorism risk insurance marketplace (Small Insurer Study).4 The next Small Insurer Study must be submitted to Congress by June 30, 2023. The Federal Insurance Office (FIO) is authorized to assist the Secretary in the administration of the Program,5 including conducting the annual data call and preparing reports and studies required under TRIA. FIO will be using the same data collection forms that were used during the 2022 TRIP Data Call, subject to a non-substantive change to the collection of certain cyber insurance data that has been approved by the Office of Management and Budget (OMB),6 as well certain additional non-substantive Departmental Offices, U.S. Department of the Treasury. AGENCY: ACTION: Data collection. Pursuant to the Terrorism Risk Insurance Act of 2002, as amended (TRIA), insurers that participate in the Terrorism Risk Insurance Program (TRIP or Program) are directed to submit information for the 2023 TRIP Data Call, which covers the reporting period from January 1, 2022 to December 31, 2022. 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, subject to certain exceptions identified in this notice, must respond to this data call no later than May 15, 2023. SUMMARY: Participating insurers must register and submit data no later than May 15, 2023. 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 2023 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:// home.treasury.gov/policy-issues/ financial-markets-financial-institutionsand-fiscal-service/federal-insuranceoffice/terrorism-risk-insurance-program/ annual-data-collection. ADDRESSES: ddrumheller on DSK120RN23PROD with NOTICES1 FOR FURTHER INFORMATION CONTACT: Richard Ifft, Senior Insurance Regulatory Policy Analyst, Federal Insurance Office, Room 1410, Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 20220, (202) 622–2922; or Sherry Rowlett, Program Analyst, Federal Insurance Office, Room 1410, Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 20220, (202) 622–1890. 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: VerDate Sep<11>2014 19:20 Mar 28, 2023 Jkt 259001 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 Terrorism Risk Insurance Program Reauthorization Act of 2019, Public Law 116–94, 133 Stat. 2534. 3 TRIA, section 104(h)(1). Treasury regulations also address the annual data collection requirement. See 31 CFR 50.51, 50.54. 4 TRIA, section 108(h). 5 31 U.S.C. 313(c)(1)(D). 6 The non-substantive change to the collection methodology now permits the reporting of the number of cyber insurance policies and associated premium issued to small, medium, and large policyholders as measured by either the revenue of the policyholder, or the number of employees of the policyholder. One method or the other must be selected; a reporting insurer may not use multiple methodologies for policies within its portfolio. In the 2022 Data Call, the number of employees was the only basis identified for making the allocation for reporting purposes. See Office of Information and Regulatory Affairs, Office of Management & Budget, OMB Control No. 1505–0257, https:// www.reginfo.gov/public/do/PRAViewICR?ref_ nbr=202303-1505-001. PO 00000 Frm 00121 Fmt 4703 Sfmt 4703 changes (such as date changes and instruction clarifications).7 II. Elements of 2023 TRIP Data Call For purposes of the 2023 TRIP Data Call, FIO, state insurance regulators, and the National Association of Insurance Commissioners (NAIC) will again use the consolidated data call mechanism first developed for use in the 2018 TRIP Data Call. This approach relies on four joint reporting templates, to be completed by Small Insurers, Non-Small Insurers, Captive Insurers, and Alien Surplus Lines Insurers, each as defined below. The use of joint reporting templates is designed to satisfy the objectives of both Treasury and state insurance regulators, while also reducing burden on participating insurers. State insurance regulators or the NAIC will provide separate notification regarding the reporting of information into the state reporting portal, including any reporting requirements to state insurance regulators that are distinct from the Treasury requirements. Insurers subject to the consolidated data call that are part of a group will report on a group basis, while those that are not part of a group will report on an individual company basis. A. Reporting of Workers’ Compensation Information The TRIP Data Calls request certain information relating to workers’ compensation insurance. For the 2023 TRIP 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 workers’ compensation data relating to premium and payroll information on behalf of participating insurers, either directly or through other workers’ compensation rating bureaus. 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 write only workers’ compensation policies are still required to register for the 2023 TRIP Data Call and provide general company information and data 7 These non-substantive changes include a new modeled loss scenario identified in the Reinsurance Worksheet that will be used in connection with the modeled loss questions (which have not changed from those posed in prior data collections). The modeled loss questions must be completed by NonSmall Insurers, Alien Surplus Lines Insurers, and Captive Insurers. As in prior years, Small Insurers complete a separate Reinsurance Worksheet that does not contain modeled loss questions. E:\FR\FM\29MRN1.SGM 29MRN1 Federal Register / Vol. 88, No. 60 / Wednesday, March 29, 2023 / Notices related to private reinsurance. The data received from NCCI, the California WCIRB, and the NYCIRB will be merged with the information provided by the insurers. B. Reporting Templates ddrumheller on DSK120RN23PROD with NOTICES1 Each category of insurer is required to complete the same worksheets that they completed in the 2023 TRIP Data Call, subject to the changes identified above. The same reporting exceptions apply this year as applied in the 2022 TRIP Data Call, as specified further below in the discussions for each category of insurer. Various worksheets used in the 2023 TRIP Data Call seek certain information relating to workers’ compensation insurance. NCCI, the California WCIRB, and the NYCIRB will complete the workers’ compensation elements of these worksheets on behalf of reporting insurers. Further information concerning the reporting templates for each category of insurer, and the individual worksheets contained within each, can be found in the instructions for the reporting templates for each category of insurer. The individual reporting templates and worksheets will also be addressed in the training webinars discussed below. For the 2023 TRIP Data Call, an insurer will qualify as a Small Insurer if it had both 2021 policyholder surplus of less than $1 billion and 2021 direct earned premiums in TRIP-eligible lines of insurance of less than $1 billion.8 Of this group, Small Insurers with TRIPeligible direct earned premiums of less than $10 million in 2022 will be exempt from the 2023 TRIP Data Call.9 Neither Captive Insurers nor Alien Surplus Lines Insurers are eligible for this reporting exemption. Insurers defined as Small Insurers for the 2023 TRIP Data Call will report the same information to Treasury and to state insurance regulators (in each case on a group basis), except as state insurance 8 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 direct earned premiums in TRIP-eligible lines for the preceding year are also less than five times the Program Trigger for the current year. Accordingly, for the 2023 TRIP Data Call (covering the 2022 calendar year), an insurer qualifies as a Small Insurer if its 2021 policyholder surplus and 2021 direct earned premiums are less than five times the 2022 Program Trigger of $200 million. 9 Individual insurers with less than $10 million in direct earned premiums in TRIP-eligible lines that are part of a larger group must still report as part of the group as a whole if the group’s direct earned premiums in these lines are over $10 million. VerDate Sep<11>2014 19:20 Mar 28, 2023 Jkt 259001 regulators may 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 are not subject to reporting on the Captive Insurer or Alien Surplus Lines Insurer reporting templates and had either a 2021 policyholder surplus equal to or greater than $1 billion or 2021 direct earned premiums in TRIPeligible lines of insurance equal to or greater than $1 billion. Insurers defined as Non-Small Insurers for the 2023 TRIP Data Call will report the same information to Treasury and to state insurance regulators (in each case on a group basis), except as state insurance regulators may separately direct for purposes of the state data call. 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 (January 1, 2022 to December 31, 2022) 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. 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 be used only by an Alien Surplus Lines Insurer that is not part of a larger group subject to the 2023 TRIP Data Call. C. Supplemental Reference Documents Treasury will continue to make available on the TRIP data collection website 10 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 separate training sessions corresponding to the four reporting templates that will be used by insurers 10 See https://home.treasury.gov/policy-issues/ financial-markets-financial-institutions-and-fiscalservice/federal-insurance-office/terrorism-riskinsurance-program/annual-data-collection. PO 00000 Frm 00122 Fmt 4703 Sfmt 4703 18633 (Small Insurers, Non-Small Insurers, Captive Insurers, and Alien Surplus Lines Insurers). The webinars will be held on April 19 and April 20, 2023 to assist reporting insurers in responding to the 2023 TRIP Data Call, with each webinar focusing on a specific reporting template. Specific times and details concerning participation in the webinars 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. 2023 TRIP Data Call Treasury, through an insurance statistical aggregator, will accept group or insurer registration forms through https://tripsection111data.com. Registration is mandatory for all insurers participating in the 2023 TRIP Data Call. 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.11 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 only after registering for the data collection process. Reporting insurers are required to register and submit complete data to Treasury no later than May 15, 2023. Because of the statutory reporting deadline for Treasury’s 2023 Small Insurer Study to Congress, no extensions will be granted. Reporting insurers can ask the data aggregator questions about registration, form completion, and submission at tripsection111data@iso.com. Reporting insurers may also submit questions to the Treasury contacts listed above. Questions regarding submission of data to state insurance regulators 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. 3501–3521), the information collected through the web portal has been approved by OMB 11 Specifications for submission of data using a .csv file will be provided to the insurer by the aggregator. E:\FR\FM\29MRN1.SGM 29MRN1 18634 Federal Register / Vol. 88, No. 60 / Wednesday, March 29, 2023 / Notices 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. Steven E. Seitz, Director, Federal Insurance Office. [FR Doc. 2023–06422 Filed 3–28–23; 8:45 am] BILLING CODE 4810–AK–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Submission for OMB Review; Comment Request; Departmental Offices Information Collection Request Departmental Offices, U.S. Department of the Treasury. ACTION: Notice. AGENCY: The U.S. Department of the Treasury, 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 this continuing information collection, as required by the Paperwork Reduction Act of 1995. The public is invited to submit comments on the collection(s) listed below. DATES: Comments should be received on or before April 28, 2023 to be assured of consideration. ADDRESSES: 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. FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be obtained from Melody Braswell by emailing PRA@treasury.gov, calling (202) 622–1035, or viewing the entire information collection request at www.reginfo.gov. SUMMARY: ddrumheller on DSK120RN23PROD with NOTICES1 SUPPLEMENTARY INFORMATION: Departmental Offices (DO) Title: Local Assistance and Tribal Consistency Fund (LATCF). OMB Control Number: 1505–0276. Type of Review: Revision of a currently approved collection. Abstract: Section 605 of the Social Security Act, as added by section 9901 of the American Rescue Plan Act of VerDate Sep<11>2014 19:20 Mar 28, 2023 Jkt 259001 2021, established the Local Assistance and Tribal Consistency Fund (the ‘‘LATCF’’), which appropriates $2 billion in total funding across fiscal years 2022 and 2023 to Treasury to make payments to eligible revenue sharing counties and eligible Tribal governments (collectively, ‘‘eligible governments’’). Specifically, for each of fiscal years 2022 and 2023, Treasury shall reserve $250 million of the total amount appropriated to allocate and pay to eligible Tribal governments and $750 million of the total amount appropriated to allocate and pay to eligible revenue sharing counties. Under this program, recipients have broad discretion on uses of funds, similar to the ways in which they may use funds generated from their own revenue sources. Form: Records Retention and Access Requirement, Payment Information Forms and associated information; Obligation and Expenditure Reports. Affected Public: Tribal and County governments. Estimated Number of Respondents: 8,651. Estimated Number of Responses per Respondent: 1. Estimated Average Time per Response: 1 hour. Estimated Frequency of Response: Once, On Occasion, Annually. Estimated Total Annual Burden Hours: 9,304 hours. Authority: 44 U.S.C. 3501 et seq. Melody Braswell, Treasury PRA Clearance Officer. [FR Doc. 2023–06419 Filed 3–28–23; 8:45 am] BILLING CODE 4810–25–P U.S.-CHINA ECONOMIC AND SECURITY REVIEW COMMISSION Notice of Open Public Hearing U.S.-China Economic and Security Review Commission. ACTION: Notice of open public hearing. AGENCY: Notice is hereby given of the following hearing of the U.S.-China Economic and Security Review Commission. The Commission is mandated by Congress to investigate, assess, and report to Congress annually on ‘‘the national security implications of the economic relationship between the United States and the People’s Republic of China.’’ Pursuant to this mandate, the Commission will hold a public hearing in Washington, DC on April 13, 2023 on ‘‘China’s Pursuit of Defense SUMMARY: PO 00000 Frm 00123 Fmt 4703 Sfmt 4703 Technologies: Implications for U.S. and Multilateral Export Control and Investment Screening Regimes.’’ DATES: The hearing is scheduled for Thursday, April 13, 2023 at 9:30 a.m. ADDRESSES: Members of the public will be able to attend in person at Dirksen Senate Office Building, Room 419 or view a live webcast via the Commission’s website at www.uscc.gov. Visit the Commission’s website for any further instructions or changes to the status of public access to Capitol grounds. Reservations are not required to view the hearing online or in person. FOR FURTHER INFORMATION CONTACT: Any member of the public seeking further information concerning the hearing should contact Jameson Cunningham, 444 North Capitol Street NW, Suite 602, Washington, DC 20001; telephone: 202– 624–1496, or via email at jcunningham@ uscc.gov. Reservations are not required to attend the hearing. ADA Accessibility: For questions about the accessibility of the event or to request an accommodation, please contact Jameson Cunningham via email at jcunningham@uscc.gov. Requests for an accommodation should be made as soon as possible, and at least five business days prior to the event. SUPPLEMENTARY INFORMATION: Background: This is the fourth public hearing the Commission will hold during its 2023 report cycle. The hearing will start with China’s motivations and policies for defense modernization, including overviews of its military procurement process and military-civil fusion strategy. Next, the hearing will evaluate how China is pursuing new materials, components, and technologies to address longstanding obstacles in domains such as space, aviation, and undersea warfare, as well as to gain supremacy in new domains such as artificial intelligence. Finally, the hearing will provide a forward-looking assessment of how Congress, the Administration, and U.S. allies and partners could improve export controls and investment screening to control technology flows to China for use in advanced weapons. The hearing will be co-chaired by Chairman Carolyn Bartholomew and Vice Chairman Alex Wong. Any interested party may file a written statement by April 13, 2023 by transmitting to the contact above. A portion of the hearing will include a question and answer period between the Commissioners and the witnesses. E:\FR\FM\29MRN1.SGM 29MRN1

Agencies

[Federal Register Volume 88, Number 60 (Wednesday, March 29, 2023)]
[Notices]
[Pages 18632-18634]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-06422]



[[Page 18632]]

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DEPARTMENT OF THE TREASURY


2023 Terrorism Risk Insurance Program Data Call

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Data collection.

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SUMMARY: Pursuant to the Terrorism Risk Insurance Act of 2002, as 
amended (TRIA), insurers that participate in the Terrorism Risk 
Insurance Program (TRIP or Program) are directed to submit information 
for the 2023 TRIP Data Call, which covers the reporting period from 
January 1, 2022 to December 31, 2022. 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, subject to certain exceptions identified in this notice, must 
respond to this data call no later than May 15, 2023.

DATES: Participating insurers must register and submit data no later 
than May 15, 2023.

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 2023 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://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/terrorism-risk-insurance-program/annual-data-collection.

FOR FURTHER INFORMATION CONTACT: Richard Ifft, Senior Insurance 
Regulatory Policy Analyst, Federal Insurance Office, Room 1410, 
Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 
20220, (202) 622-2922; or Sherry Rowlett, Program Analyst, Federal 
Insurance Office, Room 1410, Department of the Treasury, 1500 
Pennsylvania Avenue NW, Washington, DC 20220, (202) 622-1890. 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:

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, and 
was most recently extended until December 31, 2027.\2\ TRIA requires 
the Secretary of the Treasury (Secretary) to collect certain insurance 
data and information from insurers on an annual basis regarding their 
participation in the Program.\3\ TRIA also requires the Secretary to 
prepare a biennial study on the competitiveness of small insurers in 
the terrorism risk insurance marketplace (Small Insurer Study).\4\ The 
next Small Insurer Study must be submitted to Congress by June 30, 
2023. The Federal Insurance Office (FIO) is authorized to assist the 
Secretary in the administration of the Program,\5\ including conducting 
the annual data call and preparing reports and studies required under 
TRIA.
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    \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\ Terrorism Risk Insurance Program Reauthorization Act of 
2019, Public Law 116-94, 133 Stat. 2534.
    \3\ TRIA, section 104(h)(1). Treasury regulations also address 
the annual data collection requirement. See 31 CFR 50.51, 50.54.
    \4\ TRIA, section 108(h).
    \5\ 31 U.S.C. 313(c)(1)(D).
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    FIO will be using the same data collection forms that were used 
during the 2022 TRIP Data Call, subject to a non-substantive change to 
the collection of certain cyber insurance data that has been approved 
by the Office of Management and Budget (OMB),\6\ as well certain 
additional non-substantive changes (such as date changes and 
instruction clarifications).\7\
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    \6\ The non-substantive change to the collection methodology now 
permits the reporting of the number of cyber insurance policies and 
associated premium issued to small, medium, and large policyholders 
as measured by either the revenue of the policyholder, or the number 
of employees of the policyholder. One method or the other must be 
selected; a reporting insurer may not use multiple methodologies for 
policies within its portfolio. In the 2022 Data Call, the number of 
employees was the only basis identified for making the allocation 
for reporting purposes. See Office of Information and Regulatory 
Affairs, Office of Management & Budget, OMB Control No. 1505-0257, 
https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202303-1505-001.
    \7\ These non-substantive changes include a new modeled loss 
scenario identified in the Reinsurance Worksheet that will be used 
in connection with the modeled loss questions (which have not 
changed from those posed in prior data collections). The modeled 
loss questions must be completed by Non-Small Insurers, Alien 
Surplus Lines Insurers, and Captive Insurers. As in prior years, 
Small Insurers complete a separate Reinsurance Worksheet that does 
not contain modeled loss questions.
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II. Elements of 2023 TRIP Data Call

    For purposes of the 2023 TRIP Data Call, FIO, state insurance 
regulators, and the National Association of Insurance Commissioners 
(NAIC) will again use the consolidated data call mechanism first 
developed for use in the 2018 TRIP Data Call. This approach relies on 
four joint reporting templates, to be completed by Small Insurers, Non-
Small Insurers, Captive Insurers, and Alien Surplus Lines Insurers, 
each as defined below. The use of joint reporting templates is designed 
to satisfy the objectives of both Treasury and state insurance 
regulators, while also reducing burden on participating insurers. State 
insurance regulators or the NAIC will provide separate notification 
regarding the reporting of information into the state reporting portal, 
including any reporting requirements to state insurance regulators that 
are distinct from the Treasury requirements. Insurers subject to the 
consolidated data call that are part of a group will report on a group 
basis, while those that are not part of a group will report on an 
individual company basis.

A. Reporting of Workers' Compensation Information

    The TRIP Data Calls request certain information relating to 
workers' compensation insurance. For the 2023 TRIP 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 workers' compensation data relating to 
premium and payroll information on behalf of participating insurers, 
either directly or through other workers' compensation rating bureaus. 
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 write only workers' 
compensation policies are still required to register for the 2023 TRIP 
Data Call and provide general company information and data

[[Page 18633]]

related to private reinsurance. The data received from NCCI, the 
California WCIRB, and the NYCIRB will be merged with the information 
provided by the insurers.

B. Reporting Templates

    Each category of insurer is required to complete the same 
worksheets that they completed in the 2023 TRIP Data Call, subject to 
the changes identified above. The same reporting exceptions apply this 
year as applied in the 2022 TRIP Data Call, as specified further below 
in the discussions for each category of insurer.
    Various worksheets used in the 2023 TRIP Data Call seek certain 
information relating to workers' compensation insurance. NCCI, the 
California WCIRB, and the NYCIRB will complete the workers' 
compensation elements of these worksheets on behalf of reporting 
insurers. Further information concerning the reporting templates for 
each category of insurer, and the individual worksheets contained 
within each, can be found in the instructions for the reporting 
templates for each category of insurer. The individual reporting 
templates and worksheets will also be addressed in the training 
webinars discussed below.
    For the 2023 TRIP Data Call, an insurer will qualify as a Small 
Insurer if it had both 2021 policyholder surplus of less than $1 
billion and 2021 direct earned premiums in TRIP-eligible lines of 
insurance of less than $1 billion.\8\ Of this group, Small Insurers 
with TRIP-eligible direct earned premiums of less than $10 million in 
2022 will be exempt from the 2023 TRIP Data Call.\9\ Neither Captive 
Insurers nor Alien Surplus Lines Insurers are eligible for this 
reporting exemption. Insurers defined as Small Insurers for the 2023 
TRIP Data Call will report the same information to Treasury and to 
state insurance regulators (in each case on a group basis), except as 
state insurance regulators may separately direct for purposes of the 
state data call.
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    \8\ 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 direct earned premiums in 
TRIP-eligible lines for the preceding year are also less than five 
times the Program Trigger for the current year. Accordingly, for the 
2023 TRIP Data Call (covering the 2022 calendar year), an insurer 
qualifies as a Small Insurer if its 2021 policyholder surplus and 
2021 direct earned premiums are less than five times the 2022 
Program Trigger of $200 million.
    \9\ Individual insurers with less than $10 million in direct 
earned premiums in TRIP-eligible lines that are part of a larger 
group must still report as part of the group as a whole if the 
group's direct earned premiums in these lines are 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 are 
not subject to reporting on the Captive Insurer or Alien Surplus Lines 
Insurer reporting templates and had either a 2021 policyholder surplus 
equal to or greater than $1 billion or 2021 direct earned premiums in 
TRIP-eligible lines of insurance equal to or greater than $1 billion. 
Insurers defined as Non-Small Insurers for the 2023 TRIP Data Call will 
report the same information to Treasury and to state insurance 
regulators (in each case on a group basis), except as state insurance 
regulators may separately direct for purposes of the state data call.
    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 (January 1, 2022 to December 31, 2022) 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.
    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 be 
used only by an Alien Surplus Lines Insurer that is not part of a 
larger group subject to the 2023 TRIP Data Call.

C. Supplemental Reference Documents

    Treasury will continue to make available on the TRIP data 
collection website \10\ 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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    \10\ See https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/terrorism-risk-insurance-program/annual-data-collection.
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D. Training Webinars

    As in prior years, Treasury will hold four separate training 
sessions corresponding to the four reporting templates that will be 
used by insurers (Small Insurers, Non-Small Insurers, Captive Insurers, 
and Alien Surplus Lines Insurers). The webinars will be held on April 
19 and April 20, 2023 to assist reporting insurers in responding to the 
2023 TRIP Data Call, with each webinar focusing on a specific reporting 
template. Specific times and details concerning participation in the 
webinars 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. 2023 TRIP Data Call

    Treasury, through an insurance statistical aggregator, will accept 
group or insurer registration forms through https://tripsection111data.com. Registration is mandatory for all insurers 
participating in the 2023 TRIP Data Call. 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.\11\
---------------------------------------------------------------------------

    \11\ Specifications for submission of data using a .csv file 
will be provided to the insurer by the aggregator.
---------------------------------------------------------------------------

    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 
only after registering for the data collection process.
    Reporting insurers are required to register and submit complete 
data to Treasury no later than May 15, 2023. Because of the statutory 
reporting deadline for Treasury's 2023 Small Insurer Study to Congress, 
no extensions will be granted. Reporting insurers can ask the data 
aggregator questions about registration, form completion, and 
submission at [email protected]. Reporting insurers may also 
submit questions to the Treasury contacts listed above. Questions 
regarding submission of data to state insurance regulators 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. 3501-3521), the information collected through 
the web portal has been approved by OMB

[[Page 18634]]

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.

Steven E. Seitz,
Director, Federal Insurance Office.
[FR Doc. 2023-06422 Filed 3-28-23; 8:45 am]
BILLING CODE 4810-AK-P
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