Lawmakers have approved H.R. 7128, the TRIA Program Reauthorization Act of 2026, by a vote of 373–15, advancing legislation that would extend the federal terrorism insurance program through 2034. 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 for consideration.
The Terrorism Risk Insurance Act, commonly known as TRIA, was created by Congress in the aftermath of the September 11, 2001, terrorist attacks. The program was designed to help ensure that terrorism insurance remains available to businesses and property owners while establishing a public-private framework for sharing certain catastrophic losses.
Under the existing program, private property and casualty insurers are required to make terrorism coverage available to policyholders. Insurers remain responsible for initial losses, while the federal government can provide a financial backstop when losses from a certified act of terrorism exceed specified thresholds. The system is intended to protect policyholders while limiting the circumstances under which federal resources would become involved.
During House floor debate, Financial Services Committee Chairman Rep. French Hill, R-Ark., emphasized the original purpose of TRIA. He said the program was established to create a transparent system for shared public and private compensation for insured losses resulting from acts of terrorism. Hill argued that reliable terrorism coverage gives businesses and property owners the financial protection and confidence needed to invest in major developments, including skyscrapers, sports venues, shopping centers, and other facilities that support economic activity and employment.
Flood also emphasized the importance of updating the program while extending its authorization. He noted that TRIA has never paid a claim during its entire history and said lawmakers should use the reauthorization process to strengthen taxpayer protections and make the terrorism-certification process more transparent.
The legislation would extend TRIA for seven additional years beyond its current expiration at the end of 2027, keeping the program in place through 2034.
The bill would also change the threshold for certifying an act of terrorism for purposes of the program. Beginning in 2029, the minimum amount of insured losses required would increase from $5 million to $10 million. Supporters say the change would establish a higher threshold before federal participation could be triggered, reducing the likelihood that smaller incidents would qualify.
Another provision would provide explicit statutory authority for the Treasury Department to issue public notifications regarding the process it uses to determine whether an event qualifies as terrorism under TRIA.
Business and industry groups, including the U.S. Chamber of Commerce and the American Bankers Association, have supported reauthorization. They argue that predictable terrorism insurance coverage can help support commercial real estate financing, construction projects, retail operations, hospitality businesses, major venues, and other economic activity.
Industry representatives have also warned that allowing TRIA to expire could lead some insurers to reduce terrorism coverage or increase costs, particularly for businesses and properties in major metropolitan areas and other high-profile locations.
The legislation now advances to the Senate, where a companion measure has also been introduced. The Senate’s consideration will determine the next step for extending and modifying the federal terrorism insurance program.
