House · HR 7128 · 119th Congress
TRIA Program Reauthorization Act of 2026
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Summary
This bill extends the Terrorism Risk Insurance Program through 2034. The program helps private insurance companies cover losses from terrorism attacks. It also raises the dollar amount required to trigger the program starting in 2029 and sets new rules for how the government announces terrorism certification decisions.
In Favor
After 9/11, private insurers stopped offering terrorism coverage, leaving commercial real estate, stadiums, and transit systems exposed. TRIA's guarantee has kept that coverage available and affordable ever since. A program that stabilizes a market can succeed without ever paying a claim, and nearly 60 percent of large commercial properties now carry terrorism coverage because of it.
Against
TRIA was designed to be a short-term program, but it has never once been triggered in over 20 years. Meanwhile, insurers collected over 56 billion dollars in terrorism premiums backed by taxpayers. This bill extends the program through 2034 without reducing the government's share of risk or requiring insurers to pay more.
Additional Considerations
Purpose & Problem
Is the problem real and worth federal action?
The bill extends the Terrorism Risk Insurance Program, which helps cover losses private insurers face from terrorism-related property and casualty claims, through December 31, 2034, and adds clearer rules for how the government decides whether an event qualifies as terrorism.
Scope & Related Provisions
Does it stay focused, or carry unrelated add-ons?
The bill stays focused on the insurance program. It extends the program, raises a dollar threshold for qualifying events, sets public notice deadlines for government decisions, updates reporting duties, and fixes outdated name references throughout the law.
Who Is Affected
Who benefits, and who bears the cost?
Private insurance companies that offer terrorism coverage must follow new notice and reporting rules. Businesses and property owners who buy terrorism coverage are affected by how the program runs. The Treasury Department takes on new duties to publish notices and meet review deadlines.
Cost & Funding
Is it affordable and responsibly funded?
The bill does not authorize a specific dollar amount. It keeps the existing structure where the federal government covers a share of insurer losses above set thresholds if a qualifying terrorism event occurs. Starting in 2029, the loss threshold for an event to qualify rises from 5 million dollars to 10 million dollars.
Risks & Implementation
What could go wrong in practice?
The bill requires the Treasury Secretary to finish certification reviews within 90 days, with a possible extension up to 365 days. Meeting those deadlines depends on the availability of information after an incident, which the bill itself notes can be limited during the review window.
For the actual bill text, see congress.gov.
AI-generated · Published 7/24/2026