U.S. House passes bill for insurers against acts of terrorism

The House of Representatives has passed a bipartisan bill to provide protection for insurers against acts of terrorism.

House Resolution 7128, also known as the TRIA Program Authorization Act of 2026, passed on a 373-15 vote June 29. It reauthorizes the Terrorism Risk Insurance Program, and supporters say it also will ensure continued stability in the marketplace and protect American businesses.

TRIA is set to expire in 2027.

The bill was sponsored by Rep. Mike Flood (R-Nebraska), who also is chairman of the Housing and Insurance Subcommittee.

"This legislation would reauthorize TRIA, the program established by Congress in the aftermath of the September 11, 2001, terrorist attacks, through 2034," Flood 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."

Rep. French Hill (R-Arkansas), who is chairman of the House Financial Services Committee, agreed.

"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."

The American Property Casualty Insurance Association also hailed the bill's passage.

"APCIA applauds House consideration of H.R. 7128, the TRIA Program Reauthorization Act, which would extend the Terrorism Risk Insurance Program for seven years and preserve the program's vital economic protection against acts of terrorism that so many companies rely on," said Sam Whitfield, APCIA's senior vice president of federal government relations and political engagement. "We appreciate that the House is acting early in the process. By moving now, it helps prevent the uncertainty and confusion that would occur if Congress waited until 2027.

"APCIA urges the House … to work with the Senate so that TRIA reauthorization can reach the president's desk for signature before the end of the year."

In addition to extending the act, the bill includes several amendments meant to enhance the process through which the government certifies whether an act can be classified as an act of terrorism. Those include:

Changing the threshold for financial losses for certain acts of terrorism. If an act occurs before 2029, the threshold will remain at $5,000,000. For acts occurring in 2029 or later, the threshold will increase to $10,000,000.

Requiring the Secretary to publish a notice in the Federal Register within 30 days after starting the certification process, informing the public that a determination is underway.

Allowing the Secretary to further announce publicly if an event is not being evaluated for certification as an act of terrorism.