83_FR_31495 83 FR 31366 - Proposed Information Collection; Comment Request; Services Surveys: BE-45, Quarterly Survey of Insurance Transactions by U.S. Insurance Companies With Foreign Persons

83 FR 31366 - Proposed Information Collection; Comment Request; Services Surveys: BE-45, Quarterly Survey of Insurance Transactions by U.S. Insurance Companies With Foreign Persons

DEPARTMENT OF COMMERCE
Bureau of Economic Analysis

Federal Register Volume 83, Issue 129 (July 5, 2018)

Page Range31366-31367
FR Document2018-14416

The Department of Commerce, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995.

Federal Register, Volume 83 Issue 129 (Thursday, July 5, 2018) 
[Federal Register Volume 83, Number 129 (Thursday, July 5, 2018)]
[Notices]
[Pages 31366-31367]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-14416]



[[Page 31366]]

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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Proposed Information Collection; Comment Request; Services 
Surveys: BE-45, Quarterly Survey of Insurance Transactions by U.S. 
Insurance Companies With Foreign Persons

AGENCY: Bureau of Economic Analysis, Department of Commerce.

ACTION: Notice.

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SUMMARY: The Department of Commerce, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the general public 
and other Federal agencies to comment on proposed and/or continuing 
information collections, as required by the Paperwork Reduction Act of 
1995.

DATES: Written comments must be submitted on or before September 4, 
2018.

ADDRESSES: Direct all written comments to Jennifer Jessup, Departmental 
Paperwork Clearance Officer, Department of Commerce, Room 6616, 14th 
and Constitution Avenue NW., Washington, DC 20230, or via email at 
[email protected].

FOR FURTHER INFORMATION CONTACT: Request for additional information or 
copies of the information collection instrument and instructions should 
be directed to Christopher Stein, Chief, Services Surveys Branch BE-50 
(SSB), Bureau of Economic Analysis, U.S. Department of Commerce, 
Washington, DC 20233; phone: (301) 278-9189; fax: (301) 278-9507; or 
via email at [email protected].

SUPPLEMENTARY INFORMATION: 

I. Abstract

    The Quarterly Survey of Insurance Transactions by U.S. Insurance 
Companies with Foreign Persons (BE-45) is one of BEA's primary data 
sources for its estimates of insurance services exports and imports. A 
U.S. insurance company must report if it had transactions with foreign 
persons, in any of the data items covered by the survey, that exceeded 
$8 million (positive or negative) in the prior calendar year or are 
expected to exceed that amount during the current calendar year.
    The data are needed to monitor U.S. trade in insurance services, to 
analyze the impact of these cross-border services on the U.S. and 
foreign economies, to compile and improve the U.S. economic accounts, 
to support U.S. commercial policy on trade in services, to conduct 
trade promotion, and to improve the ability of U.S. businesses to 
identify and evaluate market opportunities. The data are used in 
estimating the insurance component of the U.S. international 
transactions accounts (ITAs) and national income and product accounts 
(NIPAs).
    The Bureau of Economic Analysis (BEA) is proposing one change to 
the BE-45 survey to improve the accuracy of its quarterly statistics on 
insurance services exports and imports. The proposed change is intended 
to address the needs of data users without placing undue burden on 
survey respondents.
    Currently, respondents are required to report annual data on 
primary insurance premiums and losses, reinsurance losses, and 
auxiliary insurance services receipts and payments on Schedule B of the 
BE-45 survey on a mandatory basis in the fourth quarter of the year. 
Reporters have the option of voluntarily providing data on reinsurance 
losses on a quarterly basis throughout the year. However, the irregular 
approach to collecting the other information on Schedule B on an annual 
basis results in frequent reporting errors and data omissions, which 
requires additional BEA resources to correct.
    Beginning with reporting for first quarter 2019, BEA is proposing 
to make it mandatory for respondents to report their primary insurance 
premiums and losses, reinsurance losses, and auxiliary insurance 
services receipts and payment on Schedule B every quarter. Many 
reporters already provide loss information quarterly, on a voluntary 
basis, since it is readily available in their accounting systems.
    For those already providing loss information voluntarily--roughly 
25 percent of reporters--we believe there will be minimal impact on 
their reporting burden for the additional items collected on Schedule 
B. For those not already providing loss information voluntarily each 
quarter, we estimate that the quarterly reporting burden for this 
additional detail, and the information collected for primary and 
auxiliary insurance, will result in a 1-hour increase in burden per 
response, from 8 to 9 hours. The total respondent burden estimates have 
been increased to reflect this.
    The reporting thresholds of the current BE-45 survey will be 
retained. The effort to keep current reporting thresholds unchanged is 
intended to minimize respondent burden while considering the needs of 
data users. Existing language in the instructions and definitions will 
be reviewed and adjusted as necessary to clarify survey requirements.

II. Method of Collection

    BEA contacts potential respondents by mail at the end of each 
calendar quarter. Respondents must file the completed BE-45 forms 
within 60 days after the end of each calendar quarter, or within 90 
days after the close of the calendar year. Reports are required from 
each U.S. insurance company whose covered transactions with foreign 
persons for any of the data items on the survey exceeded $8 million 
(positive or negative) in the prior calendar year, or are expected to 
exceed that amount during the current calendar year. Entities required 
to report will be contacted individually by BEA. Entities not contacted 
by BEA have no reporting responsibilities.
    BEA offers its electronic filing option, the eFile system, for use 
in reporting on Form BE-45. For more information about eFile, go to 
www.bea.gov/efile. In addition, BEA posts all its survey forms and 
reporting instructions on its website, www.bea.gov/ssb. These may be 
downloaded, completed, printed, and submitted via fax or mail.

III. Data

    OMB Control Number: 0608-0066.
    Form Number: BE-45.
    Type of Review: Regular submission.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Responses: 2,200 annually (550 filed each 
quarter; 515 reporting mandatory or voluntary data, and 35 that would 
not report data).
    Estimated Time per Response: 9 hours is the average for those 
reporting data. One hour is the average for those filing an exemption 
claim, Hours may vary considerably among respondents because of 
differences in company size and complexity.
    Estimated Total Annual Burden Hours: 18,680.
    Estimated Total Annual Cost to Public: $0.
    Respondent's Obligation: Mandatory.
    Legal Authority: International Investment and Trade in Services 
Survey Act (Pub. L. 94-472, 22 U.S.C. 3101-3108, as amended).

IV. Request for Comments

    Comments are invited on: (a) Whether the proposed collection of 
information is necessary for the proper performance of the functions of 
the Agency, including whether the information will have practical 
utility; (b) the accuracy of the Agency's estimate of the burden 
(including hours and cost) of the proposed collection of information; 
(c) ways to enhance the quality, utility, and clarity of the 
information to be

[[Page 31367]]

collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval of this information 
collection; they also will become a matter of public record.

Sheleen Dumas,
Departmental Lead PRA Officer, Office of Chief Information Officer.
[FR Doc. 2018-14416 Filed 7-3-18; 8:45 am]
 BILLING CODE 3510-06-P

31366 Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices DEPARTMENT OF COMMERCE ability of U.S. businesses to identify and II. Method of Collection evaluate market opportunities. The data BEA contacts potential respondents Bureau of Economic Analysis are used in estimating the insurance by mail at the end of each calendar component of the U.S. international quarter. Respondents must file the Proposed Information Collection; transactions accounts (ITAs) and Comment Request; Services Surveys: completed BE–45 forms within 60 days national income and product accounts after the end of each calendar quarter, BE–45, Quarterly Survey of Insurance (NIPAs). Transactions by U.S. Insurance or within 90 days after the close of the The Bureau of Economic Analysis calendar year. Reports are required from Companies With Foreign Persons (BEA) is proposing one change to the each U.S. insurance company whose AGENCY: Bureau of Economic Analysis, BE–45 survey to improve the accuracy covered transactions with foreign Department of Commerce. of its quarterly statistics on insurance persons for any of the data items on the ACTION: Notice. services exports and imports. The survey exceeded $8 million (positive or proposed change is intended to address negative) in the prior calendar year, or SUMMARY: The Department of the needs of data users without placing are expected to exceed that amount Commerce, as part of its continuing undue burden on survey respondents. during the current calendar year. effort to reduce paperwork and Currently, respondents are required to Entities required to report will be respondent burden, invites the general report annual data on primary insurance public and other Federal agencies to contacted individually by BEA. Entities premiums and losses, reinsurance not contacted by BEA have no reporting comment on proposed and/or losses, and auxiliary insurance services continuing information collections, as responsibilities. receipts and payments on Schedule B of BEA offers its electronic filing option, required by the Paperwork Reduction the BE–45 survey on a mandatory basis Act of 1995. the eFile system, for use in reporting on in the fourth quarter of the year. Form BE–45. For more information DATES: Written comments must be Reporters have the option of voluntarily about eFile, go to www.bea.gov/efile. In submitted on or before September 4, providing data on reinsurance losses on addition, BEA posts all its survey forms 2018. a quarterly basis throughout the year. and reporting instructions on its ADDRESSES: Direct all written comments However, the irregular approach to website, www.bea.gov/ssb. These may to Jennifer Jessup, Departmental collecting the other information on be downloaded, completed, printed, and Paperwork Clearance Officer, Schedule B on an annual basis results submitted via fax or mail. Department of Commerce, Room 6616, in frequent reporting errors and data 14th and Constitution Avenue NW., omissions, which requires additional III. Data Washington, DC 20230, or via email at BEA resources to correct. OMB Control Number: 0608–0066. PRAcomments@doc.gov. Beginning with reporting for first Form Number: BE–45. FOR FURTHER INFORMATION CONTACT: quarter 2019, BEA is proposing to make Type of Review: Regular submission. Request for additional information or it mandatory for respondents to report Affected Public: Business or other for- copies of the information collection their primary insurance premiums and profit organizations. instrument and instructions should be losses, reinsurance losses, and auxiliary Estimated Number of Responses: directed to Christopher Stein, Chief, insurance services receipts and payment 2,200 annually (550 filed each quarter; Services Surveys Branch BE–50 (SSB), on Schedule B every quarter. Many 515 reporting mandatory or voluntary Bureau of Economic Analysis, U.S. reporters already provide loss data, and 35 that would not report data). Department of Commerce, Washington, information quarterly, on a voluntary Estimated Time per Response: 9 hours DC 20233; phone: (301) 278–9189; fax: basis, since it is readily available in is the average for those reporting data. (301) 278–9507; or via email at their accounting systems. One hour is the average for those filing christopher.stein@bea.gov. For those already providing loss an exemption claim, Hours may vary SUPPLEMENTARY INFORMATION: information voluntarily—roughly 25 considerably among respondents percent of reporters—we believe there because of differences in company size I. Abstract will be minimal impact on their and complexity. The Quarterly Survey of Insurance reporting burden for the additional Estimated Total Annual Burden Transactions by U.S. Insurance items collected on Schedule B. For Hours: 18,680. Companies with Foreign Persons (BE– those not already providing loss Estimated Total Annual Cost to 45) is one of BEA’s primary data sources information voluntarily each quarter, we Public: $0. for its estimates of insurance services estimate that the quarterly reporting Respondent’s Obligation: Mandatory. exports and imports. A U.S. insurance burden for this additional detail, and Legal Authority: International company must report if it had the information collected for primary Investment and Trade in Services transactions with foreign persons, in and auxiliary insurance, will result in a Survey Act (Pub. L. 94–472, 22 U.S.C. any of the data items covered by the 1-hour increase in burden per response, 3101–3108, as amended). survey, that exceeded $8 million from 8 to 9 hours. The total respondent burden estimates have been increased to IV. Request for Comments (positive or negative) in the prior calendar year or are expected to exceed reflect this. Comments are invited on: (a) Whether that amount during the current calendar The reporting thresholds of the the proposed collection of information year. current BE–45 survey will be retained. is necessary for the proper performance The data are needed to monitor U.S. The effort to keep current reporting of the functions of the Agency, amozie on DSK3GDR082PROD with NOTICES1 trade in insurance services, to analyze thresholds unchanged is intended to including whether the information will the impact of these cross-border services minimize respondent burden while have practical utility; (b) the accuracy of on the U.S. and foreign economies, to considering the needs of data users. the Agency’s estimate of the burden compile and improve the U.S. economic Existing language in the instructions (including hours and cost) of the accounts, to support U.S. commercial and definitions will be reviewed and proposed collection of information; (c) policy on trade in services, to conduct adjusted as necessary to clarify survey ways to enhance the quality, utility, and trade promotion, and to improve the requirements. clarity of the information to be VerDate Sep<11>2014 16:43 Jul 03, 2018 Jkt 244001 PO 00000 Frm 00008 Fmt 4703 Sfmt 4703 E:\FR\FM\05JYN1.SGM 05JYN1

Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices 31367 collected; and (d) ways to minimize the I. Abstract annual covered expenses are below burden of the collection of information The Quarterly Survey of Ocean $500,000. on respondents, including through the Freight Revenues and Foreign Expenses The data collected on these surveys use of automated collection techniques of U.S. Carriers (BE–30) is a survey that are needed to monitor U.S. trade in or other forms of information collects data from U.S. ocean freight transport services to analyze the impact technology. carriers (owners and operators) whose of U.S. trade on the U.S. and foreign Comments submitted in response to total covered revenues or total covered economies, to compile and improve the this notice will be summarized and/or expenses incurred outside the United U.S. economic accounts, to support U.S. included in the request for OMB States were $500,000 or more in the commercial policy on trade in transport approval of this information collection; previous year or are expected to be services, to conduct trade promotion, they also will become a matter of public $500,000 or more during the current and to improve the ability of U.S. record. year. The covered revenues are: (1) businesses to identify and evaluate Revenue on cargo outbound from U.S. market opportunities. The data are used Sheleen Dumas, in estimating the transport component Departmental Lead PRA Officer, Office of ports and the associated shipping weight; (2) revenue on cargo inbound of the U.S. international transactions Chief Information Officer. accounts (ITAs) and national income [FR Doc. 2018–14416 Filed 7–3–18; 8:45 am] into the United States and the associated shipping weight; (3) revenue and product accounts (NIPAs). BILLING CODE 3510–06–P The Bureau of Economic Analysis on cross-trade cargoes; (4) charter hire (BEA) is proposing no additions, (with crew) and space leasing revenues modifications, or deletions to the DEPARTMENT OF COMMERCE from foreign residents. The covered current BE–30 and BE–37 surveys to expenses are: (1) Fuel expenses in minimize respondent burden while Bureau of Economic Analysis foreign countries; (2) expenses in considering the needs of data users. foreign countries other than fuel Proposed Information Collection; Existing language in the instructions expenses; and (3) charter hire (with Comment Request; Services Surveys: and definitions will be reviewed and crew) and space leasing payments to BE–30, Quarterly Survey of Ocean adjusted as necessary to clarify survey foreign residents. A report is not Freight Revenues and Foreign requirements. required from U.S. ocean freight carriers Expenses of U.S. Carriers, and the whose total annual covered revenues II. Method of Collection BE–37, Quarterly Survey of U.S. Airline and total annual covered expenses are BEA contacts potential respondents Operators’ Foreign Revenues and below $500,000. by mail at the end of each calendar Expenses The Quarterly Survey of U.S. Airline quarter. Respondents must file Operators’ Foreign Revenues and completed BE–30 and BE–37 forms AGENCY: Bureau of Economic Analysis, Expenses (BE–37) is a survey that Department of Commerce. within 45 days after the end of each collects data from U.S. airline operators calendar quarter. A BE–30 report is ACTION: Notice. engaged in the international required from U.S. ocean freight carriers transportation of goods and/or (owners and operators) whose total SUMMARY: The Department of passengers and whose total covered Commerce, as part of its continuing covered revenues or total covered revenues or total covered expenses expenses incurred outside the United effort to reduce paperwork and incurred outside the United States were respondent burden, invites the general States were $500,000 or more in the $500,000 or more in the previous year previous year or are expected to be public and other Federal agencies to or are expected to be $500,000 or more comment on proposed and/or $500,000 or more during the current during the current year. The covered year. A BE–37 report is required from continuing information collections, as revenues are: (1) Revenue derived from required by the Paperwork Reduction U.S. airline operators engaged in the carriage of export freight and express international transportation of goods Act of 1995. from the United States to points outside and/or passengers and whose total DATES: Written comments must be the United States; (2) revenue derived covered revenues or total covered submitted on or before September 4, from carriage of freight and express expenses incurred outside the United 2018. originating from, and destined to, points States were $500,000 or more in the outside the United States; (3) revenue previous year or are expected to be ADDRESSES: Direct all written comments derived from transporting passengers $500,000 or more during the current to Jennifer Jessup, Departmental originating from, and destined to, points year. Entities required to report will be Paperwork Clearance Officer, outside the United States; (4) revenue contacted individually by BEA. Entities Department of Commerce, Room 6616, from transporting passengers to and not contacted by BEA have no reporting 14th and Constitution Avenue NW, from the United States and the responsibilities. Washington, DC 20230, or via email at associated number of passengers; (5) BEA offers electronic filing through PRAcomments@doc.gov. interline settlement receipts from its eFile system for use in reporting on FOR FURTHER INFORMATION CONTACT: foreign airline operators. The covered the BE–30 and BE–37 quarterly survey Requests for additional information or expenses are: (1) Expenses incurred forms. For more information about copies of the information collection outside the United States for fuel and eFile, go to www.bea.gov/efile. In instruments and instructions should be oil, station and maintenance bases, addition, BEA posts all its survey forms directed to Christopher Stein, Chief, wages, and other goods and services and reporting instructions on its amozie on DSK3GDR082PROD with NOTICES1 Services Surveys Branch (SSB) BE–50, purchased abroad (except aircraft website, www.bea.gov/ssb. These may Bureau of Economic Analysis, U.S. leasing expenses); (2) aircraft (with be downloaded, completed, printed, and Department of Commerce, Washington, crew) leasing expenses; and (3) interline submitted via fax or mail. DC 20233; phone: (301) 278–9189; fax: settlement payments to foreign airline (301) 278–9507; or via email at operators. A report is not required from III. Data christopher.stein@bea.gov. U.S. airline operators whose total OMB Control Number: 0608–0011. SUPPLEMENTARY INFORMATION: annual covered revenues and total Form Number: BE–30 and BE–37. VerDate Sep<11>2014 16:43 Jul 03, 2018 Jkt 244001 PO 00000 Frm 00009 Fmt 4703 Sfmt 4703 E:\FR\FM\05JYN1.SGM 05JYN1


Document Created: 2018-07-03 23:39:43
Document Modified: 2018-07-03 23:39:43
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice.
DatesWritten comments must be submitted on or before September 4, 2018.
ContactRequest for additional information or copies of the information collection instrument and instructions should be directed to Christopher Stein, Chief, Services Surveys Branch BE-50 (SSB), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20233; phone: (301) 278-9189; fax: (301) 278-9507; or via email at [email protected]
FR Citation83 FR 31366 
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