The House of Representatives on Friday approved legislation extending the federal Terrorism Risk Insurance Program through 2034, securing a strong bipartisan vote designed to maintain stability in the commercial insurance market.
Lawmakers passed H.R. 7128, the TRIA Program Reauthorization Act of 2026, by a 373-15 margin. The measure, sponsored by Rep. Mike Flood (R-Neb.), chairman of the House Financial Services Subcommittee on Housing and Insurance, now advances to the Senate for consideration.
Congress established the program in the wake of the September 11, 2001, terrorist attacks. It functions as a federal backstop for property and casualty insurers confronting catastrophic losses from certified acts of terrorism. Under the existing framework, private insurers are required to offer terrorism coverage, with the Treasury Department sharing losses that exceed defined thresholds once an event receives certification.
House Financial Services Committee Chairman Rep. French Hill (R-Ark.) underscored 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.”
Flood, the bill’s primary sponsor, highlighted the need to pair the extension with targeted updates. “This legislation would reauthorize TRIA… through 2034,” he 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.”
The legislation extends the program seven years beyond its current expiration date of December 31, 2027. Beginning in 2029, it raises the minimum insured-loss threshold required to certify an act of terrorism from $5 million to $10 million. The bill also provides the Treasury Department with explicit statutory authority to issue public notifications regarding its certification process.
Supporters say the measure will help preserve insurance availability for major commercial properties and infrastructure projects while incorporating safeguards for taxpayers.
