31 CFR 50.72 - Establishment of Federal Terrorism Policy Surcharge.
(a) Treasury will establish the Federal Terrorism Policy Surcharge based on the following factors and considerations:
(1) In the case of a mandatory recoupment amount, the requirement to collect 133 percent of that amount;
(2) The total dollar amount to be recouped as a percentage of the latest available annual aggregate industry direct written premium information;
(3) The adjustment factors for terrorism loss risk-spreading premiums described in section 103(e)(8)(D) of the Act;
(4) The annual 3 percent limitation on terrorism loss risk-spreading premiums collected on a discretionary basis as provided in section 103(e)(8)(C) of the Act;
(5) A preferred minimum initial assessment period of one full year and subsequent extension periods in full year increments;
(7) The likelihood that the amount of the Federal Terrorism Policy Surcharge may result in the collection of an aggregate recoupment amount in excess of the planned recoupment amount; and
(b) The Federal Terrorism Policy Surcharge shall be the obligation of the policyholder and is payable to the insurer with the premium for a property and casualty insurance policy in effect during the assessment period established by Treasury. See§ 50.74(c).
Title 31 published on 2013-07-01
no entries appear in the Federal Register after this date.