House Passes Key Bill

The House of Representatives voted Friday to extend the federal Terrorism Risk Insurance Program until 2034, with a strong bipartisan vote in support of stability in the commercial insurance market.

The bill, the TRIA Program Reauthorization Act of 2026 (H.R. 7128), passed 373-15.

The measure, sponsored by Rep. Mike Flood, R-Neb., chairman of the House Financial Services Subcommittee on Housing and Insurance, now goes to the Senate.

Congress created the program after the terrorist attacks of September 11, 2001, to provide a federal backstop to property and casualty insurers against catastrophic losses from certified acts of terrorism.

Private insurers are now mandated to provide terrorism coverage for policyholders and the Treasury Department shares losses that exceed certain levels after a certified event.

“The core purpose of this program,” said House Financial Services Committee Chairman Rep. French Hill, R-Ark., during floor debate.