House Passes Terrorism Insurance Reauthorization

• By: Corey Miller
• July 8, 2026

Last Monday, the U.S. House Financial Services Committee passed H.R. 7128, the “TRIA Program Reauthorization Act of 2026.”

Rep. Mike Flood (R-Nebraska), Chair of the Housing and Insurance Subcommittee, is the original sponsor of the legislation. The bill passed the U.S. House of Representatives with broad bipartisan support by a vote of 373-15 and now awaits consideration in the U.S. Senate.

Since its initial enactment, the Terrorism Risk Insurance Act (TRIA) has undergone four additional reauthorizations—in 2005, 2007, 2015, and 2019—with many reforms to protect taxpayers and increase private-sector involvement. Congress created TRIA after 9/11 to establish a system for sharing public and private compensation for insured losses from certified acts of terrorism.

The “TRIA Program Reauthorization Act of 2026” would reauthorize the program for an additional seven years, extending its current expiration date of Dec. 31, 2027. The bill would raise the minimum loss threshold from $5 million to $10 million and require the Treasury Secretary to publish a notice in the Federal Register within 30 days of initiating the terrorism determination process.

Meanwhile, in the Senate, Sen. Dave McCormick (R-Pennsylvania) has offered a clean seven-year extension for the TRIA reauthorization as a bipartisan amendment to the National Defense Authorization Act. The Senate version does not include the changes made in the House bill. If passed in its current form, both chambers will need to reconcile their differences before a unified bill can reach President Trump’s desk.

In June, the Big “I” joined other industry stakeholders in signing a letter urging the House to reauthorize the bill in a timely manner. The Big “I” will now also work with the Senate to secure a long-term extension of this important program.

Corey Miller is Big “I” director of federal government affairs.