WASHINGTON — The U.S. House of Representatives has overwhelmingly approved legislation extending the federal Terrorism Risk Insurance Program (TRIA) through 2034, advancing a measure supporters say is critical to maintaining stability in the nation’s commercial insurance market.
Lawmakers passed H.R. 7128, the TRIA Program Reauthorization Act of 2026, by a vote of 373-15. The legislation, sponsored by Rep. Mike Flood, R-Neb., now moves to the Senate, where lawmakers will consider whether to extend the program before its current authorization expires at the end of 2027.
Created in the aftermath of the September 11, 2001, terrorist attacks, TRIA established a public-private framework designed to ensure that terrorism coverage remains available to businesses and property owners while limiting the risk of catastrophic losses overwhelming private insurers.
Under the program, insurers are required to make terrorism coverage available to policyholders. The federal government can provide financial assistance when losses from a federally certified act of terrorism exceed established industry thresholds.
House Financial Services Committee Chairman French Hill, R-Ark., said the program is intended to provide consumers and businesses with confidence that insurance protection will remain available following a catastrophic attack.
“The goal here” is to give policyholders the financial protection and confidence needed to support major investments, Hill said during floor debate, pointing to skyscrapers, sports venues, malls and other major developments.
Flood emphasized that the reauthorization is not simply an extension but also an opportunity to strengthen the program. He noted that TRIA has never paid a claim since its creation and argued that lawmakers should nevertheless ensure the program is prepared for a future catastrophic event while protecting taxpayers.
The legislation would raise the minimum insured-loss threshold for an event to qualify for federal terrorism certification from $5 million to $10 million beginning in 2029. It would also give the Treasury Department explicit authority to publicly communicate information about its process for determining whether an event qualifies under the program.
Business and financial organizations, including the U.S. Chamber of Commerce and the American Bankers Association, have supported the legislation. They argue that predictable terrorism insurance coverage is important for commercial real estate, construction, lending, large public venues and other economic activity.
Supporters say the overwhelming House vote reflects broad bipartisan recognition that the program serves as a safeguard against severe market disruption rather than a routine source of federal payouts.
The measure now heads to the Senate, where lawmakers will determine whether the program receives its proposed seven-year extension and accompanying changes.
