Search Results for keywords:"Terrorism Risk Insurance Program"

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Search Results: keywords:"Terrorism Risk Insurance Program"

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  • 2025-06704 — 2025 Terrorism Risk Insurance Program Data Call
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    Type:Notice
    Citation:90 FR 16593
    Reading Time:about 12 minutes

    The U.S. Department of the Treasury is conducting the 2025 Terrorism Risk Insurance Program (TRIP) Data Call. Insurance companies participating in TRIP must submit specific information covering 2024, using forms approved by the Office of Management and Budget. This data, due by May 15, 2025, aids in assessing the availability and affordability of terrorism risk insurance. There are training sessions and a website provided to assist insurers in the data submission process, ensuring compliance with a statutory deadline for a related study due to Congress.

    Simple Explanation

    The U.S. government is asking insurance companies to share information by May 15th, 2025, about their work in 2024 to help make sure people can still get insurance if bad things happen, like terrorist attacks. They have special forms to fill out and are helping the companies understand how to do it right.

  • 2024-30885 — IMARA Calculation for Calendar Year 2025 Under the Terrorism Risk Insurance Program
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    Type:Notice
    Citation:89 FR 105688
    Reading Time:about 5 minutes

    The Department of the Treasury has announced the insurance marketplace aggregate retention amount (IMARA) for 2025, which is a part of the Terrorism Risk Insurance Program. The IMARA for 2025 is set at $53,366,227,478 and is based on the average insurer deductibles from 2022 to 2024. This figure helps determine if the Treasury needs to recoup any payments made under the program. The IMARA calculation relies on direct earned premiums reported by insurers to the Treasury for the previous three years.

    Simple Explanation

    The Treasury Department is informing people that for the year 2025, they have set a big number ($53 billion) that insurance companies together need to cover for events like big accidents or scary things happening before the government helps out. They figured out this number by looking at what the insurance companies have covered in recent years.

  • 2025-03555 — Agency Information Collection Activities; Submission for OMB Review; Comment Request; Collection of Data From Property and Casualty Insurers for Reports Concerning the Terrorism Risk Insurance Program
    Type:Notice
    Citation:90 FR 11355
    Reading Time:about a minute or two

    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.