House Passes Bipartisan Bill to Extend Terrorism Insurance Program Through 2034
WASHINGTON, D.C. — The U.S. House of Representatives has overwhelmingly approved legislation to extend the federal Terrorism Risk Insurance Program (TRIA) through 2034, giving bipartisan backing to a measure supporters say will help preserve stability in the commercial insurance market.
Lawmakers passed H.R. 7128, the TRIA Program Reauthorization Act of 2026, by a vote of 373-15. The legislation, sponsored by Rep. Mike Flood, R-Neb., chairman of the House Financial Services Subcommittee on Housing and Insurance, now moves to the Senate.
Created by Congress following the September 11, 2001, terrorist attacks, TRIA provides a federal backstop for property and casualty insurers facing catastrophic losses resulting from certified acts of terrorism.
Under the program, insurers must make terrorism coverage available to policyholders. The federal government, through the Treasury Department, shares in certain losses after insurers meet specified financial thresholds and an event is formally certified as an act of terrorism.
House Financial Services Committee Chairman French Hill, R-Ark., said the program is intended to provide policyholders with confidence that terrorism-related losses can be covered while supporting continued investment in major commercial projects.
“The purpose of TRIA is spelled out in the original law,” Hill said during floor debate.
He said the program was designed to create a transparent system of shared public and private compensation for insured terrorism losses, protecting consumers and giving businesses the confidence to build major facilities, employ workers and invest in the economy.
Flood said the legislation would extend TRIA for seven years beyond its current expiration at the end of 2027 while also making several changes to the program.
“We are so fortunate that we have never seen a TRIA claim in the program’s entire history, and I hope that we never, ever see one,” Flood said. “However, if this program is going to continue to exist with a public backstop, we should ensure we update its charter to protect taxpayers in the event of future claims, and we should work to ensure the certification process is transparent.”
Among the proposed changes, the legislation would raise the minimum insured-loss threshold for certifying an act of terrorism from $5 million to $10 million beginning in 2029.
The bill would also provide explicit statutory authority for the Treasury Department to issue public notifications concerning its process for determining whether an event qualifies as terrorism under TRIA.
The program operates as a public-private partnership. Insurers remain responsible for initial losses, while the federal government becomes involved only after losses from a certified event exceed specified retention levels.
Supporters note that the federal backstop has never paid a claim since TRIA was established. They argue that the program’s value lies in helping maintain the availability of terrorism insurance and preventing disruptions to commercial markets following a catastrophic attack.
Business and financial organizations, including the U.S. Chamber of Commerce and the American Bankers Association, have supported reauthorization. They argue that reliable terrorism coverage can help facilitate financing for commercial real estate, construction projects, large venues and other major infrastructure.
Opponents or critics of allowing the program to expire have warned that without TRIA, insurers could reduce or withdraw terrorism coverage in certain high-risk markets, potentially increasing costs or making coverage more difficult to obtain for businesses in major metropolitan areas and other prominent locations.
Supporters of H.R. 7128 say the proposed changes would strengthen taxpayer protections while preserving the program’s central purpose.
The legislation now heads to the Senate, where lawmakers will consider whether to advance the reauthorization before the program’s current authorization expires at the end of 2027.
