GENERAL AUTHORITY AND ADMINISTRATION OF CLAIMS.

SEC. 104. GENERAL AUTHORITY AND ADMINISTRATION OF CLAIMS. (a) General Authority.—The Secretary shall have the powers and authorities necessary to carry out the Program, including authority— (1) to investigate and audit all claims under the Program; and (2) 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. (b) Interim Rules and Procedures.—The Secretary may issue interim final rules or procedures specifying the manner in which— (1) insurers may file and certify claims under the Program; (2) the Federal share of compensation for insured losses will be paid under the Program, including payments based on estimates of or actual insured losses; (3) 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 (4) the Secretary will determine any final netting of payments under the Program, including payments owed to the 116 STAT. 2333Federal 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. (c) Consultation.—The Secretary shall consult with the NAIC, as the Secretary determines appropriate, concerning the Program. (d) Contracts for Services.—The Secretary may employ persons or contract for services as may be necessary to implement the Program. (e) Civil Penalties.— (1) 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— (A) 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; (B) has intentionally provided to the Secretary erroneous information regarding premium or loss amounts; (C) submits to the Secretary fraudulent claims under the Program for insured losses; (D) has failed to provide the disclosures required under subsection (f); or (E) has otherwise failed to comply with the provisions of, or the regulations issued under, this title. (2) 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. (3) 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. (f) Submission of Premium Information.— (1) In general.—The Secretary shall annually compile information on the terrorism risk insurance premium rates of insurers for the preceding year. (2) 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. (3) Availability to congress.—The Secretary shall make information compiled under this subsection available to the Congress, upon request. (g) Funding.— (1) 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. (2) 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.