The House of Representatives passed legislation to extend the federal Terrorism Risk Insurance Program through 2034, delivering a strong bipartisan vote in favor of maintaining stability in the commercial insurance market.
Lawmakers approved H.R. 7128, the TRIA Program Reauthorization Act of 2026, by a vote of 373-15.
The measure, sponsored by Rep. Mike Flood, R-Neb., chairman of the House Financial Services Subcommittee on Housing and Insurance, now heads to the Senate.
The program provides a federal backstop for property and casualty insurers facing catastrophic losses from certified acts of terrorism, having been created by Congress in the wake of the September 11, 2001, terrorist attacks.
Under the existing framework, private insurers must make terrorism coverage available to policyholders, while the Treasury Department shares in losses above certain thresholds once a certified event occurs.
House Financial Services Committee Chairman Rep. French Hill, R-Ark., emphasized the program’s core purpose during floor debate.
“The purpose of TRIA is spelled out in the original law,” Hill said.
“The law states that TRIA is designed to provide for a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism in order to protect consumers. That’s the goal here: to give policyholders access to the financial protection they need and the confidence they need to build skyscrapers, sports venues, and malls, and employ workers that drive our economy,” Hill added.
Rep. Mike Flood, the bill’s lead sponsor, highlighted the need for updates alongside the extension.
“This legislation would reauthorize TRIA, the program established by Congress in the aftermath of the September 11, 2001, terrorist attacks, through 2034,” Flood said.
“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. 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,” Flood added.
The bill extends the program’s authorization for seven additional years beyond its current expiration at the end of 2027.
It also raises the threshold for certifying an act of terrorism for program purposes — increasing the minimum insured losses required from $5 million to $10 million beginning in 2029.
Additionally, the legislation provides explicit statutory authority for the Treasury Department to issue public notifications regarding its process for determining whether an event qualifies as terrorism under the program.
TRIA operates as a public-private partnership.
Insurers retain responsibility for initial losses, with the federal government stepping in only for exceptionally large events that exceed defined retention levels.
