2024 Terrorism Risk Insurance Program Data Call, 19640-19642 [2024-05751]

Download as PDF 19640 Federal Register / Vol. 89, No. 54 / Tuesday, March 19, 2024 / Notices availability of reinsurance or capital markets support for terrorism risk insurance for such exposures; 3. Changes in the property, casualty, and reinsurance markets since the 2022 Program Effectiveness Report that may have affected the pricing, affordability, availability, and take up of terrorism risk insurance; ddrumheller on DSK120RN23PROD with NOTICES1 Cyber-Related Topics 4. Terrorism risk insurance issues presented by cyber-related losses, and the potential response of TRIP in connection with such exposures, including your views on the type of cyber-related terrorism losses that may be included within TRIP and those losses that may not be covered by TRIP; 5. Any potential changes to TRIA or TRIP that would encourage the take up of insurance for cyber-related losses arising from acts of terrorism as defined under TRIA, including, but not limited to the modification of the lines of insurance covered by TRIP and revisions to the current TRIP risksharing mechanisms for cyber-related losses, including how TRIP would respond to potential catastrophic cyber events; 6. The availability of reinsurance or capital markets support for cyber-related losses arising from acts of terrorism as defined under TRIA; Other Topics 7. How captive insurers access TRIP, including the extent to which they provide coverage on a standalone versus embedded basis, or provide coverage for NBCR risks only; 8. The current status of terrorism risk modeling capabilities, and the use of those techniques in the placement of terrorism risk insurance; 9. Given the nature of terrorism risk, whether FIO should be seeking more granular information than state or metropolitan level information (such as ZIP code level or geocoded information) to assist in FIO’s analysis of the terrorism risk insurance market and TRIP; 10. How and whether developments in Artificial Intelligence technologies will affect terrorism insurance underwriting, marketing, claims management, and perils; 11. In what ways, if any, small business clients face distinct challenges in the terrorism insurance market and whether small business have materially different exposures or take-up rates from the broader terrorism insurance market; 12. Given that FIO now chairs the International Forum of Terrorism (Re)Insurance Pools, any issues that FIO should consider in its engagement with VerDate Sep<11>2014 17:41 Mar 18, 2024 Jkt 262001 international entities or authorities providing support for terrorism risk insurance or reinsurance; and 13. Any other issues relating to TRIP, terrorism risk insurance, or reinsurance that may be relevant to FIO’s assessment of the effectiveness of TRIP in the report. Steven E. Seitz, Director, Federal Insurance Office. [FR Doc. 2024–05750 Filed 3–18–24; 8:45 am] BILLING CODE 4810–AK–P DEPARTMENT OF THE TREASURY 2024 Terrorism Risk Insurance Program Data Call Departmental Offices, U.S. Department of the Treasury. ACTION: Data collection. AGENCY: 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 2024 TRIP Data Call, which covers the reporting period from January 1, 2023 to December 31, 2023. 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, 2024. DATES: Participating insurers must register and submit data no later than May 15, 2024. 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 2024 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. FOR FURTHER INFORMATION CONTACT: Richard Ifft, Lead Management and Senior Insurance Policy Analyst, Terrorism Risk Insurance Program, Room 1410, Department of the Treasury, SUMMARY: PO 00000 Frm 00074 Fmt 4703 Sfmt 4703 1500 Pennsylvania Avenue NW, Washington, DC 20220, (202) 622–2922; or Theodore Newman, Senior Insurance Regulatory Policy Analyst, Federal Insurance Office Room 1410, Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 20220, (202) 622–1748. 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 report on the effectiveness of the Program (Effectiveness Report).4 The Effectiveness Report must be submitted to Congress by June 30, 2024. 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. II. Elements of the 2024 TRIP Data Call For purposes of the 2024 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 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, sec. 104(h)(1). Treasury regulations also address the annual data collection requirement. See 31 CFR 50.51, 50.54. 4 TRIA, sec. 104(h)(2). 5 31 U.S.C. 313(c)(1)(D). E:\FR\FM\19MRN1.SGM 19MRN1 Federal Register / Vol. 89, No. 54 / Tuesday, March 19, 2024 / Notices 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. ddrumheller on DSK120RN23PROD with NOTICES1 A. Reporting of Workers’ Compensation Information The TRIP Data Calls request certain information relating to workers’ compensation insurance. For the 2024 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 2024 TRIP Data Call and provide general company information and data 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 There are no material changes to the data collection worksheets or instructions from last year, and each category of insurer is required to complete the same worksheets that they completed in the 2023 TRIP Data Call.6 6 There is 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 VerDate Sep<11>2014 17:41 Mar 18, 2024 Jkt 262001 The same reporting exceptions apply this year as applied in the 2023 TRIP Data Call, as specified further below in the discussions for each category of insurer. Various worksheets used in the 2024 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 2024 TRIP Data Call, an insurer will qualify as a Small Insurer if it had both 2022 policyholder surplus of less than $1 billion and 2022 direct earned premiums in TRIP-eligible lines of insurance of less than $1 billion.7 Of this group, Small Insurers with TRIPeligible direct earned premiums of less than $10 million in 2023 will be exempt from the 2024 TRIP Data Call.8 Neither Captive Insurers nor Alien Surplus Lines Insurers are eligible for this reporting exemption. Insurers defined as Small Insurers for the 2024 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. 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 2022 policyholder surplus of greater than $1 billion or 2022 direct earned premiums in TRIP-eligible lines 19641 of insurance equal to or greater than $1 billion. Insurers defined as Non-Small Insurers for the 2024 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 TRIPeligible lines of insurance during the reporting period (January 1, 2023 to December 31, 2023) are required to register and submit data to Treasury, unless they did not provide their insureds with any terrorism risk insurance (either on standalone basis, or embedded in policies providing coverage for risks other than terrorism) 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 2024 TRIP Data Call. C. Supplemental Reference Documents Treasury will continue to make available on the TRIP data collection website 9 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 Reinsurance Worksheet that does not contain modeled loss questions. 7 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 2024 TRIP Data Call (covering the 2023 calendar year), an insurer qualifies as a Small Insurer if its 2022 policyholder surplus and 2022 direct earned premiums are less than five times the 2023 Program Trigger of $200 million. 8 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. PO 00000 Frm 00075 Fmt 4703 Sfmt 4703 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 3 and April 4, 2024 to assist reporting insurers in responding to the 2024 TRIP Data Call, with each webinar focusing on a specific reporting template. Specific times and details 9 See https://home.treasury.gov/policy-issues/ financial-markets-financial-institutions-and-fiscalservice/federal-insurance-office/terrorism-riskinsurance-program/annual-data-collection. E:\FR\FM\19MRN1.SGM 19MRN1 19642 Federal Register / Vol. 89, No. 54 / Tuesday, March 19, 2024 / Notices 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. a collection of information unless it displays a valid OMB control number. Steven E. Seitz, Director, Federal Insurance Office. [FR Doc. 2024–05751 Filed 3–18–24; 8:45 am] BILLING CODE 4810–AK–P ddrumheller on DSK120RN23PROD with NOTICES1 III. 2024 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 2024 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.10 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, 2024.11 Because of the statutory reporting deadline for Treasury’s 2024 Effectiveness Report 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 under Control Number 1505–0257. An agency may not conduct or sponsor, and a person is not required to respond to, 10 Specifications for submission of data using a .csv file will be provided to the insurer by the aggregator. 11 Under 31 CFR 50.51(a), data is to be provided to Treasury no later than May 15 in each calendar year. VerDate Sep<11>2014 17:41 Mar 18, 2024 Jkt 262001 DEPARTMENT OF THE TREASURY United States Mint Notification of Citizens Coinage Advisory Committee Public Meeting— April 16, 2024 (Day One) and April 17, 2024 (Day Two) ACTION: Notice of meeting. Pursuant to United States Code, title 31, section 5135(b)(8)(C), the United States Mint announces the Citizens Coinage Advisory Committee (CCAC) public meeting scheduled for April 16– 17, 2024. FOR FURTHER INFORMATION CONTACT: Jennifer Warren, United States Mint Liaison to the CCAC; 801 9th Street NW; Washington, DC 20220; or call 202–354– 7208. SUPPLEMENTARY INFORMATION: Date: April 16, 2024, and April 17, 2024. Time: 10 a.m.–4 p.m. (EDT) (April 16, 2024) and 9 a.m.–3:30 p.m. (April 17, 2024). Location: 2nd Floor Conference Rooms; United States Mint; 801 9th Street NW; Washington, DC 20220. Subject: Review and discussion of obverse and reverse candidate designs for the Emmett Till and Mamie TillMobley Congressional Gold Medal (April 16, 2024); review and discussion of the reverse candidate design for the 2026 Native American $1 Coin (April 16, 2024); review and discussion of the obverse and reverse candidate designs for the 2025 American Liberty 24K Gold Coin and Silver Medal (April 16, 2024); review and discussion of the obverse and reverse candidate designs for the United States Marine Corps 250th Anniversary Commemorative Coin Program (April 17, 2024); review and discussion of the obverse and reverse candidate designs for the Joseph R. Biden Presidential Medal (April 17, 2024); review and discussion of the obverse and reverse candidate designs for the Janet Yellen Secretary of the Treasury Medal (April 17, 2024); and review and discussion of the obverse and reverse candidate designs for the Ventris C. Gibson Director of the Mint Medal (April 17, 2024). Interested members of the public can either attend the meeting in person or may watch the meeting live stream on PO 00000 Frm 00076 Fmt 4703 Sfmt 4703 the United States Mint’s YouTube Channel at https://www.youtube.com/ user/usmint. To watch the meeting live, members of the public may click on the ‘‘April 16, 2024’’ and ‘‘April 17, 2024’’ icon under the Live Tab. If you will be attending in person, please contact Jennifer Warren (jennifer.warren@ usmint.treas.gov) no later than April 8, 2024, to be placed on the list for entry into the Mint Headquarters Building. Members of the public should call the CCAC HOTLINE at (202) 354–7502 for the latest updates on meeting time and access information. The CCAC advises the Secretary of the Treasury on any theme or design proposals relating to circulating coinage, bullion coinage, Congressional Gold Medals, and national and other medals; advises the Secretary of the Treasury with regard to the events, persons, or places to be commemorated by the issuance of commemorative coins in each of the five calendar years succeeding the year in which a commemorative coin designation is made; and makes recommendations with respect to the mintage level for any commemorative coin recommended. Members of the public interested in attending the meeting in person will be admitted into the meeting room on a first-come, first-serve basis as space is limited. If you will be attending in person, please contact Jennifer Warren (Jennifer.warren@usmint.treas.gov) no later than April 8, 2024. In addition, all persons entering a United States Mint facility must adhere to building security protocols. This means they must consent to the search of their persons and objects in their possession while on government grounds and when they enter and leave the facility and prohibited from bringing into the facility weapons of any type, illegal drugs, drug paraphernalia, or contraband. The United States Mint Police Office conducting the search will evaluate whether an item may enter into or exit from a facility based upon Federal law, Treasury policy, United States Mint policy, and local operating procedures; and all prohibited and unauthorized items will be subject to confiscation and disposal. The public will need to fill out a background clearance form and will need the day of the meeting to provide a government id (e.g., driver’s license) to enter the building. For members of the public interested in watching on-line, this is a reminder that the remote access is for observation purposes only. Members of the public may submit matters for the CCAC’s consideration by email to info@ ccac.gov. E:\FR\FM\19MRN1.SGM 19MRN1

Agencies

[Federal Register Volume 89, Number 54 (Tuesday, March 19, 2024)]
[Notices]
[Pages 19640-19642]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-05751]


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DEPARTMENT OF THE TREASURY


2024 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 2024 TRIP Data Call, which covers the reporting period from 
January 1, 2023 to December 31, 2023. 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, 2024.

DATES: Participating insurers must register and submit data no later 
than May 15, 2024.

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 2024 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, Lead Management and 
Senior Insurance Policy Analyst, Terrorism Risk Insurance Program, Room 
1410, Department of the Treasury, 1500 Pennsylvania Avenue NW, 
Washington, DC 20220, (202) 622-2922; or Theodore Newman, Senior 
Insurance Regulatory Policy Analyst, Federal Insurance Office Room 
1410, Department of the Treasury, 1500 Pennsylvania Avenue NW, 
Washington, DC 20220, (202) 622-1748. 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 report on the effectiveness of the Program 
(Effectiveness Report).\4\ The Effectiveness Report must be submitted 
to Congress by June 30, 2024. 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, sec. 104(h)(1). Treasury regulations also address the 
annual data collection requirement. See 31 CFR 50.51, 50.54.
    \4\ TRIA, sec. 104(h)(2).
    \5\ 31 U.S.C. 313(c)(1)(D).
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II. Elements of the 2024 TRIP Data Call

    For purposes of the 2024 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

[[Page 19641]]

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 2024 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 2024 TRIP 
Data Call and provide general company information and data 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

    There are no material changes to the data collection worksheets or 
instructions from last year, and each category of insurer is required 
to complete the same worksheets that they completed in the 2023 TRIP 
Data Call.\6\ The same reporting exceptions apply this year as applied 
in the 2023 TRIP Data Call, as specified further below in the 
discussions for each category of insurer.
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    \6\ There is 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.
---------------------------------------------------------------------------

    Various worksheets used in the 2024 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 2024 TRIP Data Call, an insurer will qualify as a Small 
Insurer if it had both 2022 policyholder surplus of less than $1 
billion and 2022 direct earned premiums in TRIP-eligible lines of 
insurance of less than $1 billion.\7\ Of this group, Small Insurers 
with TRIP-eligible direct earned premiums of less than $10 million in 
2023 will be exempt from the 2024 TRIP Data Call.\8\ Neither Captive 
Insurers nor Alien Surplus Lines Insurers are eligible for this 
reporting exemption. Insurers defined as Small Insurers for the 2024 
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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    \7\ 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 
2024 TRIP Data Call (covering the 2023 calendar year), an insurer 
qualifies as a Small Insurer if its 2022 policyholder surplus and 
2022 direct earned premiums are less than five times the 2023 
Program Trigger of $200 million.
    \8\ 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 2022 policyholder surplus 
of greater than $1 billion or 2022 direct earned premiums in TRIP-
eligible lines of insurance equal to or greater than $1 billion. 
Insurers defined as Non-Small Insurers for the 2024 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, 2023 to December 31, 2023) are 
required to register and submit data to Treasury, unless they did not 
provide their insureds with any terrorism risk insurance (either on 
standalone basis, or embedded in policies providing coverage for risks 
other than terrorism) 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 2024 
TRIP Data Call.

C. Supplemental Reference Documents

    Treasury will continue to make available on the TRIP data 
collection website \9\ 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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    \9\ 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 3 
and April 4, 2024 to assist reporting insurers in responding to the 
2024 TRIP Data Call, with each webinar focusing on a specific reporting 
template. Specific times and details

[[Page 19642]]

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. 2024 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 2024 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.\10\
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    \10\ 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 
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, 2024.\11\ Because of the 
statutory reporting deadline for Treasury's 2024 Effectiveness Report 
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.
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    \11\ Under 31 CFR 50.51(a), data is to be provided to Treasury 
no later than May 15 in each calendar year.
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    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 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. 2024-05751 Filed 3-18-24; 8:45 am]
BILLING CODE 4810-AK-P


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