The U.S. House of Representatives has passed legislation aimed at extending the federal Terrorism Risk Insurance Program (TRIA) through 2034, giving the measure strong bipartisan support as lawmakers seek to maintain stability in the commercial insurance market.
The House approved H.R. 7128, known as the TRIA Program Reauthorization Act of 2026, by an overwhelming vote of 373–15. The legislation, sponsored by Rep. Mike Flood, R-Neb., would extend the program for seven additional years beyond its current expiration at the end of 2027. The bill now moves to the Senate, where a companion measure has also been introduced.
TRIA was established by Congress following the September 11, 2001, terrorist attacks. The program was designed as a public-private partnership to ensure that businesses and property owners can obtain terrorism insurance while providing a federal backstop for insurers facing extremely large losses from certified acts of terrorism.
Under the program, private insurers remain responsible for initial losses. Federal support becomes available only when losses from a certified terrorist event exceed specified thresholds. Supporters say the framework helps provide businesses with greater certainty when making major investments in commercial properties, construction projects, sports facilities and other large developments.
House Financial Services Committee Chairman Rep. French Hill, R-Ark., said the program’s central objective is to provide a transparent system for sharing insured terrorism-related losses between the public and private sectors while protecting consumers and supporting economic activity.
Flood also emphasized that the legislation would not simply renew the program but make several changes intended to strengthen taxpayer protections and improve transparency.
One major provision would increase the minimum insured-loss threshold for an event to qualify for federal terrorism-program purposes. Beginning in 2029, the threshold would rise from $5 million to $10 million. Supporters argue that the higher threshold would make it less likely that smaller incidents could trigger federal involvement.
The legislation would also give the Treasury Department explicit statutory authority to issue public notifications concerning its process for determining whether an event qualifies as terrorism under TRIA.
Supporters point out that no claims have ever been paid under the program since its creation. Business organizations, including the U.S. Chamber of Commerce and the American Bankers Association, have backed reauthorization, arguing that reliable terrorism coverage can help support commercial lending, construction, real estate development and the operation of major venues and infrastructure.
Without an extension, industry observers have warned that some insurers could reduce the availability of terrorism coverage or increase costs, particularly for businesses operating in major metropolitan areas or at high-profile locations.
The House vote represents a significant step toward extending the program, but the legislation still must pass the Senate and receive final approval before becoming law.
