The U.S. House of Representatives passed a bipartisan bill that reauthorizes the Terrorism Risk Insurance Program.
The TRIA Program Reauthorization Act of 2026 (H.R. 7128), was approved by a vote of 373-15. The bill was sponsored by Rep. Mike Flood (R-NE), chairman of the Subcommittee on Housing and Insurance.
“This legislation would reauthorize TRIA, the program established by Congress in the aftermath of the September 11, 2001, terrorist attacks, through 2034. We are so fortunate that we have never seen a TRIA claim in the program’s entire history, and I hope that we never, ever see one. However, if this program is going to continue to exist with a public backstop, we should ensure we update its charter to protect taxpayers in the event of future claims, and we should work to ensure the certification process is transparent,” Flood said.
TRIA is designed to provide for a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism in order to protect consumers.
“That’s the goal here: to give policyholders access to the financial protection they need and the confidence they need to build skyscrapers, sports venues, and malls, and employ workers that drive our economy,” Financial Services Committee Chairman Rep. French Hill (R-AR) said.
The Mortgage Bankers Association commended the bill’s passage in the House.
“TRIA has long served as a successful public-private partnership that protects taxpayers, supports economic growth, and ensures businesses of all sizes can obtain the terrorism risk insurance coverage needed to finance, develop, buy, and operate commercial properties across the country. With more than $5 trillion in commercial and multifamily mortgage debt outstanding, any lapse in the program would create unnecessary uncertainty, disrupt financing markets, and increase costs for property owners, businesses, and communities nationwide,” MBA’s President and CEO Bob Broeksmit said.
A companion bill has been introduced in the Senate.
“MBA encourages leaders in both chambers to advance a long-term TRIA reauthorization measure that President Trump can sign into law as soon as possible,” Broeksmit terrorism
said.