The Department of the Treasury is requesting comments on its plan to collect data from property and casualty insurers as part of the Terrorism Risk Insurance Program. This data collection aims to support analyses required by the Terrorism Risk Insurance Act of 2002, which ensures the availability and affordability of terrorism risk insurance. The public can submit comments by April 4, 2025, and more information can be accessed through specific contacts and links provided in the notice. The collection involves various forms for different types of insurers and has an estimated annual burden of 51,070 hours across 1,015 respondents.
Simple Explanation
The Department of the Treasury wants to know what people think about their plan to ask insurance companies questions about how they cover bad events like terrorism. They need this information to make sure everyone can still get and afford this kind of insurance.