Agency Information Collection Activity Under OMB Review: Veterans Mortgage Life Insurance Inquiry, 93407 [2024-27600]

Download as PDF Federal Register / Vol. 89, No. 228 / Tuesday, November 26, 2024 / Notices Comments are being sought with respect to the collection of information in the proposed annual TRIP Data Call. Treasury specifically invites comments on: (a) Whether the proposed collection is responsive to the statutory requirement; (b) the accuracy of the estimate of the burden of the collections of information (see below); (c) ways to enhance the quality, utility, and clarity of the information collection; (d) ways to use 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 maintain the information. The information sought by Treasury comprises data elements that insurers currently collect or generate, although not necessarily grouped together the way in which insurers currently collect and evaluate the data. Based upon insurer submissions to the 2024 TRIP Data Call, Treasury estimates that for purposes of future annual TRIP Data Calls, approximately 90 Program participants will be required to submit the ‘‘Insurer (Non-Small) Groups or Companies’’ data collection form, 200 Program participants will be required to submit the ‘‘Small Insurer’’ form, 625 Program participants will be required to submit the ‘‘Captive Insurer’’ form, and 100 Program participants will be required to submit the ‘‘Alien Surplus Lines Insurers’’ form. Treasury has previously analyzed the potential burdens associated with completing the annual TRIP Data Call forms.10 Treasury expects each set of reporting templates to incur a different level of burden, based upon the different components contained in each reporting template and the number of insurers within each that will need to respond to each worksheet. Based upon its prior estimates, Treasury anticipates that approximately 90 hours will be required on average to collect, process, and report the data for each non-small insurer. For each small insurer, approximately 32 hours will be required to collect, process, and report data. Approximately 52 hours will be lotter on DSK11XQN23PROD with NOTICES1 10 See Terrorism Risk Insurance Program 2022 Data Call, 86 FR 64600, 64603 (November 18, 2021). The proportion of insurers completing the various worksheets within each category of form today remain roughly the same as Treasury calculated in 2021, leading to no change in the number of hours burden estimates for each catetory of insurer. VerDate Sep<11>2014 18:03 Nov 25, 2024 Jkt 265001 93407 required to collect, process, and report data for each captive insurer. Finally, approximately 57 hours will be required to collect, process, and report data for each alien surplus lines insurer. Assuming this breakdown, and when applied to the number of estimated reporting insurers, the estimated annual burden would be 52,700 hours ((90 nonsmall insurers × 90 hours) + (200 small insurers x 32 hours) + (625 captive insurers × 52 hours) + (100 alien surplus lines insurers × 57 hours)). At a blended, fully loaded hourly rate of $69.45,11 the cost would be $3,660,015 across the industry as a whole, or $6,250.50 per non-small insurer, $2,222.40 per small insurer, $3,611.40 per each captive insurer, and $3,958.65 each per alien surplus lines insurer. cost and burden, and it includes the actual data collection instrument. DATES: Comments and recommendations for the proposed information collection should be sent by December 26, 2024. ADDRESSES: To submit comments and recommendations for the proposed information collection, please type the following link into your browser: www.reginfo.gov/public/do/PRAMain, select ‘‘Currently under Review—Open for Public Comments’’, then search the list for the information collection by Title or ‘‘OMB Control No. 2900–0501.’’ FOR FURTHER INFORMATION CONTACT: VA PRA information: Maribel Aponte, (202) 461–8900, vacopaperworkreduact@ va.gov. Dated: November 20, 2024. Steven E. Seitz, Director, Federal Insurance Office. SUPPLEMENTARY INFORMATION: [FR Doc. 2024–27640 Filed 11–25–24; 8:45 am] BILLING CODE 4810–AK–P DEPARTMENT OF VETERANS AFFAIRS [OMB Control No. 2900–0501] Agency Information Collection Activity Under OMB Review: Veterans Mortgage Life Insurance Inquiry Veterans Benefits Administration, Department of Veterans Affairs. ACTION: Notice. AGENCY: In compliance with the Paperwork Reduction Act (PRA) of 1995, this notice announces that the Veterans Benefits Administration, Department of Veterans Affairs, will submit the collection of information abstracted below to the Office of Management and Budget (OMB) for review and comment. The PRA submission describes the nature of the information collection and its expected SUMMARY: 11 Based on data from the Bureau of Labor Statistics, for Insurance Carriers and Related Activities, https://www.bls.gov/iag/tgs/iag524. htm#earnings. The average wage rate for all insurance employees was $45.30 in August 2024, and the total benefit compensation in the 2nd Quarter of 2024 was 34.8%, which is a benefit multiplier of 1.533. Therefore, a fully loaded wage rate for insurance employees is $69.45, or $45.30 × 1.533. PO 00000 Frm 00135 Fmt 4703 Sfmt 9990 Title: Veterans Mortgage Life Insurance Inquiry (VA Form 29–0543). OMB Control Number: 2900–0501 https://www.reginfo.gov/public/do/ PRASearch. Type of Review: Extension without change of a currently approved collection. Abstract: The Veterans Mortgage Life Insurance Inquiry solicits information needed from Veterans for the proper maintenance of Veterans Mortgage Life Insurance accounts. The form is authorized by 38 U.S.C. 2106 and 38CFR 8a.3(e). An agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a currently valid OMB control number. The Federal Register Notice with a 60-day comment period soliciting comments on this collection of information was published at 89 FR 72714, September 5, 2024. Affected Public: Individuals or Households. Estimated Annual Burden: 17. Estimated Average Burden per Respondent: 5 minutes. Frequency of Response: On occasion. Estimated Number of Respondents: 200. Authority: 44 U.S.C. 3501 et seq. Maribel Aponte, VA PRA Clearance Officer, Office of Enterprise and Integration, Data Governance Analytics, Department of Veterans Affairs. [FR Doc. 2024–27600 Filed 11–25–24; 8:45 am] BILLING CODE 8320–01–P E:\FR\FM\26NON1.SGM 26NON1

Agencies

[Federal Register Volume 89, Number 228 (Tuesday, November 26, 2024)]
[Notices]
[Page 93407]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-27600]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0501]


Agency Information Collection Activity Under OMB Review: Veterans 
Mortgage Life Insurance Inquiry

AGENCY: Veterans Benefits Administration, Department of Veterans 
Affairs.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: In compliance with the Paperwork Reduction Act (PRA) of 1995, 
this notice announces that the Veterans Benefits Administration, 
Department of Veterans Affairs, will submit the collection of 
information abstracted below to the Office of Management and Budget 
(OMB) for review and comment. The PRA submission describes the nature 
of the information collection and its expected cost and burden, and it 
includes the actual data collection instrument.

DATES: Comments and recommendations for the proposed information 
collection should be sent by December 26, 2024.

ADDRESSES: To submit comments and recommendations for the proposed 
information collection, please type the following link into your 
browser: www.reginfo.gov/public/do/PRAMain, select ``Currently under 
Review--Open for Public Comments'', then search the list for the 
information collection by Title or ``OMB Control No. 2900-0501.''

FOR FURTHER INFORMATION CONTACT: VA PRA information: Maribel Aponte, 
(202) 461-8900, [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Veterans Mortgage Life Insurance Inquiry (VA Form 29-0543).
    OMB Control Number: 2900-0501 https://www.reginfo.gov/public/do/PRASearch.
    Type of Review: Extension without change of a currently approved 
collection.
    Abstract: The Veterans Mortgage Life Insurance Inquiry solicits 
information needed from Veterans for the proper maintenance of Veterans 
Mortgage Life Insurance accounts. The form is authorized by 38 U.S.C. 
2106 and 38CFR 8a.3(e).
    An agency may not conduct or sponsor, and a person is not required 
to respond to a collection of information unless it displays a 
currently valid OMB control number. The Federal Register Notice with a 
60-day comment period soliciting comments on this collection of 
information was published at 89 FR 72714, September 5, 2024.
    Affected Public: Individuals or Households.
    Estimated Annual Burden: 17.
    Estimated Average Burden per Respondent: 5 minutes.
    Frequency of Response: On occasion.
    Estimated Number of Respondents: 200.
    Authority: 44 U.S.C. 3501 et seq.

Maribel Aponte,
VA PRA Clearance Officer, Office of Enterprise and Integration, Data 
Governance Analytics, Department of Veterans Affairs.
[FR Doc. 2024-27600 Filed 11-25-24; 8:45 am]
BILLING CODE 8320-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.