The House of Representatives approved legislation Friday that extends the federal Terrorism Risk Insurance Program through 2034, delivering a decisive bipartisan vote aimed at preserving stability in the commercial insurance market.
Lawmakers passed H.R. 7128, the TRIA Program Reauthorization Act of 2026, by a vote of 373-15. The bill, sponsored by Rep. Mike Flood (R-Neb.), chairman of the House Financial Services Subcommittee on Housing and Insurance, now moves to the Senate.
Congress created the program after the September 11, 2001, terrorist attacks. It serves as a federal backstop for property and casualty insurers facing catastrophic losses from certified acts of terrorism. Under the current structure, private insurers must offer terrorism coverage, while the Treasury Department shares losses above certain thresholds once an event is certified.
House Financial Services Committee Chairman Rep. French Hill (R-Ark.) stressed the program’s original intent 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 lead sponsor, noted the importance of pairing the extension with 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 bill extends the program seven years past its current end date of December 31, 2027. It raises the minimum insured-loss threshold for certifying an act of terrorism from $5 million to $10 million starting in 2029. It also grants the Treasury Department clear statutory authority to issue public notifications about its certification process.
