Article ID: 5c95a0b62a50e8fa38b7ba7996520ca0a14e48ff3691f8a8ce6bc4de634ec0ae
Source ID: secondary:businessinsurance.com
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URL: https://www.businessinsurance.com/banking-panel-votes-to-continue-terrorism-backstop/
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Banking panel votes to continue terrorism backstop - 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 2026 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 2026 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 2026 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 2026 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 Banking panel votes to continue terrorism backstop by Matthew Lerner P/C Insurers , Terrorism Sep 18, 2026 The United States Senate Banking Committee on Thursday voted unanimously to extend the government backstop for commercial terrorism insurance in the U.S. The Terrorism Risk Insurance Program Reauthorization Act of 2026 would extend TRIA by seven years. Current program legislation expires Dec. 31, 2027. The legislation, Senate Bill 4395 and co-sponsored by Minnesota Sen. Tina Smith, will be sent to the Senate for a full vote. The full U.S House of Representatives approved legislation in June. The House bill raises the level of losses required for certification of a terrorist act to $10 million from $5 million starting in 2029. The first iteration of the government’s terrorism insurance backstop was passed in the wake of the Sept. 11, 2001, terrorist attacks on America. Private commercial terrorism insurance markets had dried up in the wake of the attacks as insurers withdrew capacity. “It’s critical that we keep terrorism risk insurance available and affordable to businesses in Minnesota and across the country,” said Sen. Smith. Related News Duncan Ellis joining Starr September 18, 2026 Golf tournament operator lands in the rough with fraud plea September 18, 2026 Court rejects arbitration bid in comp retaliation case September 18, 2026 Court revives probation officer’s comp claim for sprains, strains September 18, 2026 Helmsman names Emily Drew president, CEO September 18, 2026 Hailstorm causes more than $1B in insured losses September 18, 2026 EU to form ‘climate insurance alliance’ September 18, 2026 Allianz Partners to cover Waymo in European rollout September 18, 2026 Beazley adds AI cover to cyber, tech E&O policies September 18, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. Never miss important news: Become a Business Insurance Online subscriber today Subscribe Now Information About Us Contact Advertise Privacy Policy Terms & Conditions Copyright 2026. BUSINESS INSURANCE HOLDINGS Member, Beacon International Group, Ltd.
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