OMB.report

Federal forms, ICRs, and supporting documents

Information Collection Request

Federal Insurance Office Climate-Related Financial Risk Data Collection for U.S. Homeowners Multi-Peril Underwriting Data

ICR 202311-1505-001 · OMB 1505-0280 · Received in OIRA

Forms and Documents
DocumentTypeStatusAvailability
U.S. Homeowners Multi-Peril Form Form New Available
FIO_Revised_Data_Collection_OMB_Supporting_Statement.docx Supporting Statement B Uploaded 2023-11-02 Missing upstream
FIO_Revised_Data_Collection_OMB_Supporting_Statement.docx Supporting Statement A Uploaded 2023-11-02 Repair queued
IC Document Collections
IC IDCollectionTypeStatusForm
263185 U.S. Homeowners Multi-Peril Form Form New
ICR Details
202311-1505-001
Received in OIRA
TREAS/DO
Federal Insurance Office Climate-Related Financial Risk Data Collection for U.S. Homeowners Multi-Peril Underwriting Data
New collection (Request for a new OMB Control Number)   No
Regular 11/02/2023
  Requested Previously Approved
36 Months From Approved
240 0
48,000 0
240,000 0
On May 20, 2021, President Biden issued the Executive Order on Climate-Related Financial Risk, Exec. Order No. 14030 (E.O. 14030), which called on FIO to: (1) “assess climate-related issues or gaps in the supervision and regulation of insurers” and (2) “further assess, in consultation with States, the potential for major disruptions of private insurance coverage in regions of the country particularly vulnerable to climate change impacts.” [1] This information collection is necessary for FIO to advance its statutory mandates (including to monitor the extent to which traditionally underserved communities and consumers, minorities, and low- and moderate-income persons have access to affordable insurance products, and to monitor all aspects of the insurance industry) and to fulfill the second undertaking for FIO under E.O. 14030.[2] Under FIO's data collection, FIO will obtain consistent, granular, and comparable homeowners insurance data that is not otherwise publicly available on a nationwide level. This nationwide view is critical to understanding how climate-related financial risks impact families and individuals across state markets and the United States, and how these effects could impact the broader financial system.
None
None
Not associated with rulemaking
  87 FR 64134 10/21/2022
88 FR 75380 11/02/2023
Yes
1
IC Title Form No. Form Name
U.S. Homeowners Multi-Peril Form N/A U.S. Homeowners Multi-Peril Form
  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 240 0 0 240 0 0
Annual Time Burden (Hours) 48,000 0 0 48,000 0 0
Annual Cost Burden (Dollars) 240,000 0 0 240,000 0 0
Yes
Miscellaneous Actions
No
This is a new collection of information.
$25,000
Yes Part B of Supporting Statement
    No
    No
No
No
No
No
Stephanie Schmelz 202 341-2528 [email protected]
  No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
11/02/2023