House Passes Key Bill

The federal backstop has played a crucial role in keeping a functioning private market for this type of coverage in place since the immediate aftermath of the 2001 attacks, when reinsurers largely fled the space.

H.R. 7128 does not expand the scope of the program or change its essential structure as a temporary backstop.

Rather, it is about targeted reforms that strengthen the existing framework by increasing transparency and fiscal accountability.

The bill now heads to the Senate, where a companion measure also has been filed.