CONGRESSMAN FLOOD HIGHLIGHTS ADVANCEMENT OF TERRORISM RISK INSURANCE ACT PROGRAM REAUTHORIZATION FROM COMMITTEE

The following information was released by the office of Nebraska Rep. Mike Flood:

Today,U.S. Congressman MikeFlood (R-NE) releaseda statement following the FinancialServices Committee's passage of the bipartisan 'TRIA Program Reauthorization Act of 2026.' Congressman Flood is the original sponsor of the bill, which extends authorization of the Terrorism Risk Insurance Program through 2034. Congressman Andrew Garbarino (R-NY), Congressman EmanuelCleaver (D-MO), Congresswoman Nydia Velazquez (D-NY), as well as Congresswoman Ayanna Pressley (D-MA) are co-leads.

"This legislation extendsthe Terrorism Risk Insurance Program for seven additional years, providing greater certainty to insurers and policyholders alike," said Congressman Flood."This program, which was created in the wake of the horrific September 11th attacks in 2001, has thankfully never seen a claim since its inception. Our bill makes needed updates to the program that will make it work better if, God forbid, there is ever a need to use activate it. I want to thank Congressman Garbarino, Congressman Cleaver, Congresswoman Velazquez and Congresswoman Pressley for their partnership on this important issue."

Videoof Congressman Flood's opening remarkscan be found here. News outlets are welcometo use the video for their reporting purposes.

"Communities and businesses need assurance that they are protected against catastrophic risks, particularly when the private sector cannot provide adequate coverage on its own," said Congressman Cleaver. "While we pray that America remains safe from threats of terrorism, we must plan for even the worst-case scenarios. This bipartisan legislation to reauthorize the Terrorism Risk Insurance Program for years to come, including reforms to strengthen the program, will ensure policyholders have access to affordable insurance options and are protected in the event of a tragedy."

"For Long Island and communities across New York, the threat of terrorism is personal. The Terrorism Risk Insurance Program was created in the aftermath of September 11th to provide stability when our nation needed it most, and it continues to play a critical role in protecting jobs, small businesses, and our local economy. Advancing this bipartisan reauthorization gives insurers and policyholders the certainty they need and ensures we remain prepared in the face of evolving threats. I'm proud to work with Chairman Flood, Chairman Hill, and our bipartisan co-leads to move this important legislation forward," said Congressman Garbarino.

Congressman Flood is the Chairman of the Housing and Insurance Subcommittee and a member of the House FinancialServices Committee.