State/Treasury Joint Reporting Template due May 15, 2020
Information regarding the State Property Supplement will be posted once finalized.
State/Treasury Joint Data Call
All insurers who wrote commercial property/casualty policies in the lines of business subject to the Terrorism Risk Insurance Program in 2019, except those subject to exemption as described below, must submit data to both Treasury and the NY Portal. The Terrorism Risk Insurance Act specifically excludes crop insurance, private mortgage insurance, title insurance, financial guaranty insurance, medical malpractice insurance, health or life insurance, flood insurance, or reinsurance (15 U.S.S. 6701 Note, P.L. 107-297). The Act also excludes commercial auto, burglary and theft, professional liability (except for directors and officers liability), and farm-owners multiple peril (P.L. 109-144).
Entities required to submit data on the Joint Data Templates must visit https://www.tripsection111data.com/ to download a registration form for the 2020 data collection. The completed registration form must then be emailed to email@example.com/. After the entity's registration is processed, they will be provided with the appropriate data collection template or other specifications for reporting data. The data must be transmitted to Treasury via secure file transfer protocol (SFTP) as well as to the States in either Excel or csv format through the New York Portal. Data on the Joint Reporting Template will be due May 15, 2020. If a reporting group or company submits corrected information after an original submission of one or more of the Joint Reporting Templates, it will be expected to resubmit the same corrected data to both the States and Treasury.
STATE PROPERTY SUPPLEMENT
The State Property Supplement ("Supplement") has historically collected ZIP-code level data on commercial property coverage due September 30. Once finalized, additional information about the Supplement will be posted here and notice will be sent to eligible companies.
JOINT REPORTING TEMPLATE
For purposes of the 2020 data call (focusing on calendar year 2019 information), insurance groups or entities that had both policyholder surplus and direct earned premium in the TRIP-eligible lines of insurance of less than $900 million (each) in 2018 should complete the "small insurer" Joint Reporting Template. Insurance groups or entities that had both policyholder surplus and direct earned premium in the TRIP-eligible lines of insurance of greater than $900 million (each) in 2018 should complete the "non-small insurer" Joint Reporting Template. The dollar amount was raised from $800 million in the 2019 data call to $900 million in the 2020 data call. The States will only require captive insurers to submit data on the Joint Reporting Templates. Captives will not be required to file the State Property Supplement.
Data from insurers writing workers' compensation insurance has been collected via a separate data call. However, the Joint Reporting Templates do require completion of data pertaining to excess workers compensation coverage. Reporting insurers who only write workers' compensation policies are still required to register for data collection and submit certain data elements on the Joint Reporting Template. Please visit https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/terrorism-risk-insurance-program/annual-data-collection or contact firstname.lastname@example.org for more information on what is required for insurers writing workers compensation or excess workers compensation coverage.
The NAIC's International Insurance Department ("IID"), through the NAIC's Surplus Lines (C) Working Group, has historically collected terrorism risk insurance data at an insurer level from alien surplus lines insurers. The IID will continue to collect such data, which is equivalent to what is being sought in Treasury's alien surplus lines Joint Reporting Template and the IID's data collection will remain separate from this data call. More information on this subject can be found at: https://www.naic.org/cmte_c_surplus_lines_wg.htm.