§ 104. GENERAL AUTHORITY AND ADMINISTRATION OF CLAIMS.
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General Authority .— The Secretary shall have the powers and authorities necessary to carry out the Program, including authority— to investigate and audit all claims under the Program; and to prescribe regulations and procedures to effectively administer and implement the Program, and to ensure that all insurers and self-insured entities that participate in the Program are treated comparably under the Program. Interim Rules and Procedures .— The Secretary may issue interim final rules or procedures specifying the manner in which— insurers may file and certify claims under the Program; the Federal share of compensation for insured losses will be paid under the Program, including payments based on estimates of or actual insured losses; the Secretary may, at any time, seek repayment from or reimburse any insurer, based on estimates of insured losses under the Program, to effectuate the insured loss sharing provisions in section 103; and the Secretary will determine any final netting of payments under the Program, including payments owed to the Federal Government from any insurer and any Federal share of compensation for insured losses owed to any insurer, to effectuate the insured loss sharing provisions in section 103.
Consultation .— The Secretary shall consult with the NAIC, as the Secretary determines appropriate, concerning the Program. Contracts for Services .— The Secretary may employ persons or contract for services as may be necessary to implement the Program. Civil Penalties.— In general .— The Secretary may assess a civil monetary penalty in an amount not exceeding the amount under paragraph
(2)against any insurer that the Secretary determines, on the record after opportunity for a hearing— has failed to charge, collect, or remit terrorism loss risk-spreading premiums under section 103(e) in accordance with the requirements of, or regulations issued under, this title; has intentionally provided to the Secretary erroneous information regarding premium or loss amounts; submits to the Secretary fraudulent claims under the Program for insured losses; has failed to provide the disclosures required under subsection (f); or has otherwise failed to comply with the provisions of, or the regulations issued under, this title. Amount .— The amount under this paragraph is the greater of $1,000,000 and, in the case of any failure to pay, charge, collect, or remit amounts in accordance with this title or the regulations issued under this title, such amount in dispute. Recovery of amount in dispute .— A penalty under this subsection for any failure to pay, charge, collect, or remit amounts in accordance with this title or the regulations under this title shall be in addition to any such amounts recovered by the Secretary. Submission of Premium Information.— In general .— The Secretary shall annually compile information on the terrorism risk insurance premium rates of insurers for the preceding year. Access to information .— To the extent that such information is not otherwise available to the Secretary, the Secretary may require each insurer to submit to the NAIC terrorism risk insurance premium rates, as necessary to carry out paragraph (1), and the NAIC shall make such information available to the Secretary. Availability to congress .— The Secretary shall make information compiled under this subsection available to the Congress, upon request. Funding.— Federal payments .— There are hereby appropriated, out of funds in the Treasury not otherwise appropriated, such sums as may be necessary to pay the Federal share of compensation for insured losses under the Program. Administrative expenses .— There are hereby appropriated, out of funds in the Treasury not otherwise appropriated, such sums as may be necessary to pay reasonable costs of administering the Program. Reporting of Terrorism Insurance Data.— Authority .— During the calendar year beginning on January 1, 2016 , and in each calendar year thereafter, the Secretary shall require insurers participating in the Program to submit to the Secretary such information regarding insurance coverage for terrorism losses of such insurers as the Secretary considers appropriate to analyze the effectiveness of the Program, which shall include information regarding— lines of insurance with exposure to such losses; premiums earned on such coverage; geographical location of exposures; pricing of such coverage; the take-up rate for such coverage; the amount of private reinsurance for acts of terrorism purchased; and such other matters as the Secretary considers appropriate. Reports .— Not later than June 30, 2016 , and every other June 30 thereafter, the Secretary shall submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate that includes— an analysis of the overall effectiveness of the Program; an evaluation of the availability and affordability of terrorism risk insurance, which shall include an analysis of such availability and affordability specifically for places of worship; an evaluation of any changes or trends in the data collected under paragraph (1); an evaluation of whether any aspects of the Program have the effect of discouraging or impeding insurers from providing commercial property casualty insurance coverage or coverage for acts of terrorism; an evaluation of the impact of the Program on workers’ compensation insurers; and in the case of the data reported in paragraph (1)(B), an updated estimate of the total amount earned since January 1, 2003 . Protection of data .— To the extent possible, the Secretary shall contract with an insurance statistical aggregator to collect the information described in paragraph (1), which shall keep any nonpublic information confidential and provide it to the Secretary in an aggregate form or in such other form or manner that does not permit identification of the insurer submitting such information. Advance coordination .— Before collecting any data or information under paragraph
(1)from an insurer, or affiliate of an insurer, the Secretary shall coordinate with the appropriate State insurance regulatory authorities and any relevant government agency or publicly available sources to determine if the information to be collected is available from, and may be obtained in a timely manner by, individually or collectively, such entities. If the Secretary determines that such data or information is available, and may be obtained in a timely matter, from such entities, the Secretary shall obtain the data or information from such entities. If the Secretary determines that such data or information is not so available, the Secretary may collect such data or information from an insurer and affiliates. Confidentiality.— Retention of privilege .— The submission of any non-publicly available data and information to the Secretary and the sharing of any non-publicly available data with or by the Secretary among other Federal agencies, the State insurance regulatory authorities, or any other entities under this subsection shall not constitute a waiver of, or otherwise affect, any privilege arising under Federal or State law (including the rules of any Federal or State court) to which the data or information is otherwise subject. Continued application of prior confidentiality agreements .— Any requirement under Federal or State law to the extent otherwise applicable, or any requirement pursuant to a written agreement in effect between the original source of any non-publicly available data or information and the source of such data or information to the Secretary, regarding the privacy or confidentiality of any data or information in the possession of the source to the Secretary, shall continue to apply to such data or information after the data or information has been provided pursuant to this subsection. Information-sharing agreement .— Any data or information obtained by the Secretary under this subsection may be made available to State insurance regulatory authorities, individually or collectively through an information-sharing agreement that— shall comply with applicable Federal law; and shall not constitute a waiver of, or otherwise affect, any privilege under Federal or State law (including any privilege referred to in subparagraph
(A)and the rules of any Federal or State court) to which the data or information is otherwise subject. Agency disclosure requirements .— Section 552 of title 5 , United States Code, including any exceptions thereunder, shall apply to any data or information submitted under this subsection to the Secretary by an insurer or affiliate of an insurer.