Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.

View ICR - OIRA Conclusion

OMB Control No: 1505-0257	ICR Reference No: 202202-1505-002
Status: Historical Active	Previous ICR Reference No: 202009-1505-002
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: Collection of Data from Property and Casualty Insurers for Reports Concerning the Terrorism Risk Insurance Program
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 03/31/2022
Retrieve Notice of Action (NOA)	Date Received in OIRA: 02/23/2022
Terms of Clearance: Supporting statement updated during OMB review to address public comment received in response to the 30-day federal register notice period.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2025	36 Months From Approved	11/30/2023
Responses	1,000	0	900
Time Burden (Hours)	51,800	0	44,400
Cost Burden (Dollars)	0	0	0

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Adjustment in Estimate
Annual Number of Responses	1,000	900	100
Annual Time Burden (Hours)	51,800	44,400	7,400
Annual Cost Burden (Dollars)	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: There has been an upward adjustment to the per response burden estimates as provided in connection with the CY 2021 data collection to account for the incremental additional cost associated with the new proposed requirements for captive insurers and for insurers writing cyber insurance. The number of anticipated responding insurers has also been modified upward based upon the experience in the CY 2021 data collection in terms of the number of insurers actually required to respond. Treasury will continue to collect information concerning the burden associated with the data production and will use such information in evaluating future collection requirements. In addition, the utilization of a consolidated data collection approach with state insurance regulators reduces total burdens upon insurers required to report terrorism risk insurance data.

Annual Cost to Federal Government: $450,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

Agency Contact: Richard Ifft 202 622-2922