Sections 103(a) and 104 of the
Terrorism Risk Insurance Act of 2002 (Pub. L. 107297) (as extended
by the Terrorism Risk Insurance Extension Act of 2005, Pub. L.
109144 and the Terrorism Risk Insurance Program Reauthorization
Act of 2007, Pub. L. 110-160) authorize the Department of the
Treasury to administer and implement the Terrorism Risk Insurance
Program established by the Act. In 31 CFR part 50, subpart F (Sec.
50.5050.55)Treasury established requirements and procedures for
insurers that file claims for payment of the Federal share of
compensation for insured losses resulting from a certified act of
terrorism under the Act. Section 50.60 allows Treasury access to
records of an insurer pertinent to amounts paid as the Federal
share of compensation for insured losses in order to conduct
investigations, confirmations and audits. Section 50.61 requires
insurers to retain all records as are necessary to fully disclose
all material matters pertaining to insured losses. This collection
of information is the recordkeeping requirement in §
50.61.
Howard Leikin 202-622-7139
Howard.Leikin@do.treas.gov
No
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.