Litigation Management - Information Collection Regarding Proposed Settlements

ICR 201004-1505-003

OMB: 1505-0196

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Unchanged
Supporting Statement A
2010-05-13
ICR Details
1505-0196 201004-1505-003
Historical Active 200705-1505-001
TREAS/DO
Litigation Management - Information Collection Regarding Proposed Settlements
Extension without change of a currently approved collection   No
Regular
Approved without change 10/07/2010
Retrieve Notice of Action (NOA) 08/17/2010
  Inventory as of this Action Requested Previously Approved
10/31/2013 36 Months From Approved 10/31/2010
1,286 0 1,286
5,141 0 5,141
0 0 0

Section 103(a) and 104 of the Terrorism Risk Insurance Act of 2002 (Pub. L. 107–297) authorize the Department of the Treasury to administer and implement the temporary Terrorism Risk Insurance Program established by the Act. Section 107 contains specific provisions designed to manage litigation arising out of or resulting from a certified act of terrorism. The Terrorism Risk Insurance Extension Act of 2005, Public Law 109– 144, added section 107(a)(6) to TRIA, which provides that procedures and requirements established by the Secretary under 31 CFR 50.82, as in effect on the date of issuance of that section in final form [July 28, 2004], shall apply to any Federal cause of action described in section 107(a)(1). Section 50.82 of the regulations requires insurers to submit to Treasury for advance approval certain proposed settlements involving an insured loss, any part of the payment of which the insurer intends to submit as part of its claim for Federal payment under the Program. The collection of information in the notice of proposed settlement in Section 50.83 that insurers must submit to implement the settlement approval process prescribed by Section 50.82.

PL: Pub.L. 107 - 297 107 Name of Law: Terrorism Risk Insurance Act of 2002
   PL: Pub.L. 109 - 144 107(a)(6) Name of Law: Terrorism Risk Insurance Extension Act of 2005
   PL: Pub.L. 110 - 160 107 Name of Law: Terrorism Risk Insurance Program Reauthorization Act of 2007
  
None

Not associated with rulemaking

  75 FR 30106 05/28/2010
75 FR 47345 08/05/2010
No

1
IC Title Form No. Form Name
Litigation Management - Information Collection Regarding Proposed Settlements TRIP 03 Notice of Proposed Settlement ? Request for Approval

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 1,286 1,286 0 0 0 0
Annual Time Burden (Hours) 5,141 5,141 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No

$341,039
No
No
No
Uncollected
No
Uncollected
James Brown 2026226910 james.brown@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.
08/17/2010


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