Sen. McCormick and Bipartisan Group Push to Extend Terrorism Insurance Program Through 2034
This bill was recently introduced in the Senate and is currently being reviewed by the Committee on Banking, Housing, and Urban Affairs. It is in the early stages of the lawmaking process and has no upcoming votes scheduled at this time. The bill is considered active as it waits for the committee to decide on its next steps.
This program is widely seen as necessary for the economy and has a long history of being renewed by both parties with very little opposition.
While primarily focused on commercial insurance, the terrorism insurance backstop also supports the broader property insurance market. Condo associations and mixed-use properties in high-risk urban areas benefit from continued access to terrorism coverage, helping protect property values and keeping insurance costs more predictable.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
No votes have been recorded for this legislation yet.
Document Type
Congressional Bill
Official Title
Terrorism Risk Insurance Program Reauthorization Act of 2026
Analysis generated by AI. Always verify with official sources.