Article ID: 138e021d3837efe9a39d335f0b514715e1b7dce47115718cb5a730fb303923ad
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URL: https://www.businessinsurance.com/house-votes-to-reauthorize-terrorism-insurance-program/
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House votes to reauthorize terrorism insurance program - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers House votes to reauthorize terrorism insurance program by Matthew Lerner P/C Insurers , Property , Terrorism Jun 30, 2026 The U.S. House of Representatives on Tuesday voted to reauthorize the nation’s government-backed terrorism insurance program. By a vote of 373-15, the House passed H.R. 7128, the TRIA Program Reauthorization Act of 2026. Sponsored by Subcommittee on Housing and Insurance Chairman Mike Flood (R-Nebraska), this bipartisan bill reauthorizes the Terrorism Risk Insurance Program. The Terrorism Risk Insurance Act was passed in 2002 in response to massive losses from the Sept. 11, 2001, terrorism attacks in the United States in order to provide a government guarantee for insurers exposed to terrorism risk. The legislation would reauthorize the TRIA program through 2034, according to Mr. Flood. The new bill would also raise the level of losses required for certification of a terrorist act to $10 million from $5 million starting in 2029 and would also place notice requirements on the Treasury Department during the certification process, according to Congress.gov. “This program has provided a vital guarantee of stability in the insurance market,” Mr. Flood said in statement on his Congressional webpage. The commercial property/casualty industry has long been supportive of the program. “For more than two decades, TRIA has helped keep coverage available and affordable, enabling investment in commercial real estate, critical infrastructure and development across the economy,” Joe Peiser, CEO of risk capital for Aon, said in a statement. “Preserving this framework provides the confidence businesses need to operate and grow, particularly as risk dynamics continue to evolve.” The American Property Casualty Insurance Association also applauded the move. “APCIA urges the House to pass H.R. 7128, and to work with the Senate so that TRIA reauthorization can reach the president’s desk for signature before the end of the year,” Sam Whitfield, APCIA’s senior vice president of federal government relations and political engagement, said in a statement. 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