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Federal Register / Vol. 71, No.

44 / Tuesday, March 7, 2006 / Notices 11461

reinsurance programs likewise being accumulation risk in certain locations? for what kinds of insurance and from
structured? Please comment on the What steps have group life insurance what types of insurers (i.e., large/small,
availability and affordability at each providers taken or do they plan to take admitted/surplus lines, etc.). How will
level. to offset any aggregation or this evolve in the long-term?
1.8 In the long-term, what are the accumulation risk? 3.4 To what extent is terrorism risk
key factors that will determine the 2.3 Has terrorism risk made group coverage available and affordable for
amount of private-market insurer and life coverage less affordable to the nuclear facilities and for chemical
reinsurer capacity available for policy or certificate holder? Have group plants, manufacturers, and industrial
terrorism risk insurance coverage? How life insurance rates increased or chemical users?
will this evolve in the long-term? Please decreased as compared to rates before 3.5 To what extent, both prior to and
comment on potential entry of new and since September 11, 2001? since September 11, 2001, have various
capital into insurance markets. 2.4 Please explain how group life states allowed insurers to exclude
1.9 To what extent have alternate insurance coverage may be bundled coverage for CNBR events? Please
risk transfer methods (e.g., catastrophe with other coverages and benefits comment on requirements for workers’
bonds or other capital market provided through an employee-benefits compensation and fire-following
instruments) been used for terrorism program, and how group life coverage is coverage.
risk insurance, and what is the potential priced, either separately or collectively, 3.6 It appears that some insurers are
for the long-term development of these through such programs. Please describe unwilling to provide coverage for CNBR
products? any effects competition has on such events caused by acts of terrorism even
1.10 To what extent have captive pricing. with the federal loss sharing provided
insurance companies been used for 2.5 Are group life providers by the TRIA Program. Why would this
terrorism risk insurance, and what is the voluntarily providing coverage for loss be the case given that TRIA limits an
potential for the use of captive insurers of life arising out of or resulting from insurer’s maximum loss exposure?
to insure against such risk long-term? acts of terrorism, or is coverage 3.7 In the long-term, what are the
1.11 Have state approaches made mandated by any state or federal laws? key factors that will determine the
coverage more or less available and Are group life providers prohibited by availability and affordability of
affordable, such as through permitted law from excluding terrorism risk from terrorism risk insurance coverage for
exclusions and rate regulation? To what group life insurance policies? CNBR events?
extent will the long-term availability 2.6 Has terrorism risk affected
and affordability of terrorism risk segments of the group life market Dated: February 27, 2006.
insurance be influenced by state differently, such as in the case of small/ Emil W. Henry, Jr.,
insurance regulation? Please comment medium sized employers, and if so, Assistant Secretary of the Treasury.
on state approaches to ensure the why? [FR Doc. E6–3150 Filed 3–6–06; 8:45 am]
continued availability and affordability 2.7 In the long-term, what are the BILLING CODE 4811–37–P
of terrorism risk insurance in the key factors that will determine the
absence of the TRIA Program being in- availability and affordability of
place (include state approaches after terrorism risk insurance coverage for DEPARTMENT OF VETERANS
September 11, 2001 and before TRIA group life insurance? AFFAIRS
became law on November 24, 2002, as III. Long-Term Availability and
well as state approaches in preparation Affordability of Insurance Coverage for Veterans’ Disability Benefits
for the expiration of the TRIA Program). Chemical, Nuclear, Biological, and Commission; Amendment Notice of
1.12 What are the differences in Meeting (FR Doc. 06–1514 Filed 2–16–
Radiological (CNBR) 2 Events Caused by
availability and affordability of 06; 8:45 a.m.)
terrorism risk insurance between the
licensed/admitted market and the non- 3.1 What is the current availability The Department of Veterans Affairs
admitted/surplus lines market, and, if and affordability of coverage for CNBR (VA) gives notice under Public Law 92–
so, to what degree are those changes events, and for what perils is coverage 463 (Federal Advisory Committee Act)
attributable to the degree and manner in available, subject to what limits, and that the Veterans’ Disability Benefits
which each market is regulated? under what policy terms and Commission meeting scheduled on
1.13 What are the differences in conditions? Is there a difference in the March 16–17, 2006, at the Holiday Inn
availability and affordability of availability and affordability of coverage National Airport, 2650 Jefferson Davis
terrorism risk insurance coverage for for CNBR events caused by acts of Highway, Arlington, VA, will begin
losses at U.S. locations as compared to terrorism? each day at 8 a.m. instead of 8:30 a.m.
such coverage for losses at non-US 3.2 What was the general availability to allow more time for Commission
locations? of coverage for CNBR events prior to the discussion.
terrorist attack of September 11, 2001? For additional information, please
II. Long-Term Availability and To what extent, subject to what limits, contact Mr. Ray Wilburn, Executive
Affordability of Group Life Insurance and for what perils was coverage Director, Veterans’ Disability Benefits
Coverage available? Did it cover acts of terrorism? Commission, 1101 Pennsylvania
2.1 What impact, if any, does 3.3 If coverage for CNBR events Avenue, NW., 5th Floor, Washington,
terrorism risk have on the availability caused by acts of terrorism is available, DC 20004, or by e-mail at veterans@vets
and affordability of group life insurance please describe generally to what extent
coverage to the policy holder (e.g., (i.e., limits, locations, exclusions, etc.)
Dated: February 27, 2006.
employer) and certificate holders (e.g.,
sroberts on PROD1PC70 with NOTICES

By Direction of the Secretary.

employees)? How will this evolve in the 2 Though CNBR is commonly used to refer

long-term? collectively to chemical, nuclear, biological, and E. Philip Riggin,

radiological losses, comments can be narrow in Committee Management Officer.
2.2 To what extent is an insurer’s addressing any of the coverages. If the comment
decision to issue group life coverage makes such a distinction, please make clear which [FR Doc. 06–2109 Filed 3–6–06; 8:45 am]
influenced by aggregation or coverage is being addressed. BILLING CODE 8320–01–M

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