**WASHINGTON** — The House of Representatives voted overwhelmingly to extend the federal Terrorism Risk Insurance Program through 2034, aiming to keep commercial insurance markets stable if a major terrorist attack occurs.
Lawmakers approved 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 goes to the Senate.
Congress created the program after the Sept. 11, 2001, attacks. It provides a federal backstop for property and casualty insurers facing catastrophic losses from certified acts of terrorism. Under the current system, private insurers must offer terrorism coverage. The Treasury Department shares losses above set thresholds once an event is certified.
House Financial Services Committee Chairman French Hill, R-Ark., said the law’s purpose has not changed. “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,” Hill said. The goal, he added, is to give policyholders the protection and confidence to build skyscrapers, sports venues and malls and to employ workers who drive the economy.
Flood said the bill both extends the program and updates it. The authorization would run seven years beyond the current expiration at the end of 2027. “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,” he said. If the public backstop continues, he argued, Congress should tighten taxpayer protections and make the certification process more transparent.
The legislation would raise the minimum insured losses required to certify an act of terrorism from $5 million to $10 million beginning in 2029. It would also give Treasury explicit authority to issue public notices explaining how it decides whether an event qualifies as terrorism under the program.
TRIA is a public-private partnership. Insurers cover initial losses. The federal government steps in only after exceptionally large events exceed defined retention levels. No claim has ever been paid, a point supporters cite as proof that the program prevents market disruption rather than serving as a regular payout.
The U.S. Chamber of Commerce and the American Bankers Association have backed reauthorization, saying predictable terrorism coverage supports lending for commercial real estate, construction and large venues. Analysts have warned that without an extension, insurers could pull back coverage, raising costs or limiting availability in major cities and at high-profile sites.
A companion measure has been introduced in the Senate.
