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Congress·In Committee·about 2 months ago

House Committee Reviews TRIA Extension That Would Keep Terrorism Insurance Backstop Through 2034

Also known as: TRIA Program Reauthorization Act of 2026

Legislative Progress

✓ Filed
Review
House
Senate
President

Impacts

Mixed Impacts(1)
Federal Employee
Neutral

Treasury staff gain clearer timelines for decisions, but face tighter 30-day and 90-day deadlines to certify terrorist acts.

Positive Impacts(2)
Small Business Owner
Helps

Ensures terrorism insurance remains available and affordable, protecting businesses from catastrophic losses through 2034.

Homeowner
Helps

Keeps property insurance stable by preventing insurers from dropping coverage due to terrorism risk concerns.

Key Points

  • This bill extends a federal program that acts as a safety net for insurance companies in the event of a major terrorist attack. By keeping the program running until 2034, it ensures that businesses can continue to buy insurance coverage for large-scale disasters that might otherwise be too expensive or unavailable.
  • The plan changes the rules for what qualifies as a "certified" act of terrorism. Under the new rules, an event would have to cause at least $25 million in insured losses to qualify for federal help, which is a big jump from the current limit of $5 million.
  • The government would be required to work faster when deciding if an event was officially an act of terrorism. They would have to notify the public within 30 days of starting an investigation and would generally have to make a final decision within 90 days of that notice.
  • This policy helps keep the economy stable by making sure that high-risk places like stadiums, shopping malls, and office buildings can remain insured. Without this government backup, many insurance companies might stop offering terrorism coverage because the risk of a massive payout is too high for them to handle alone.
EconomySmall BusinessConsumer ProtectionNational Security

Milestones

2 milestones2 actions
Jan 16, 2026House

Referred to the House Committee on Financial Services.

Jan 16, 2026

Introduced in House

What Happens Next

Projected impacts based on AI analysis

2027

Higher threshold for terrorism certification takes effect

Only attacks causing $25 million or more in losses would qualify for federal insurance help, up from $5 million today

2034-12-31

Program extension through 2034 becomes effective

Insurance companies and businesses can count on federal terrorism coverage backup for another 8 years

Related News

2 articles
Business Insurance·about 1 month ago

TRIA extension easily clears House panel

The TRIA Program Authorization Act of 2026 would extend the expiration year to 2034. It would sharply raise the minimum loss threshold to $25 million from $5 million and requires the Treasury Secretary to publish a notice within 30 days of beginning a terrorism determination process.

C=
Politico Pro·about 1 month ago

House Financial Services advances terrorism risk insurance reauthorization

The committee advanced a reauthorization of TRIA through 2034 with bipartisan support. The legislation puts a firmer expectation on the Treasury to determine if an incident was an act of terrorism, requiring a decision 90 days after the agency announces it could potentially invoke the program.

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Source Information

Document Type

Congressional Bill

Official Title

TRIA Program Reauthorization Act of 2026

Bill NumberHR 7128
Congress119th Congress
ChamberHouse of Representatives
Latest ActionReferred to the House Committee on Financial Services.

Sponsor

Cosponsors

(1)
R: 1

Analysis generated by AI. While we strive for accuracy, this should not be considered legal or professional advice. Always verify information with official government sources.