Thanks to You: Congress Has Reauthorized TRIA This Year

The Current Status of TRIA

For more than 20 years, the Terrorism Risk Insurance Act (TRIA) has helped protect businesses, workers, and communities from the economic impact of a catastrophic terrorist attack. As of September 29th, the TRIA Reauthorization Act of 2026 was passed by both chambers of Congress.

The Problem

In the wake of catastrophes, TRIA has helped make sure that coverage is still available when the worst happens. Without it, businesses could face higher costs or reduced access to coverage, making it harder to recover after a terrorist attack. The threat of terrorism has not disappeared. TRIA remains an important tool for protecting local economies and supporting recovery when businesses and communities need it most.

Why It Matters

Congress is making progress on bipartisan legislation to extend the Terrorism Risk Insurance Program for another seven years. If not renewed:

– Terrorism insurance could be harder to find or not available, especially for businesses starting new projects
– Employers may face higher costs, including for required workers’ comp coverage
– Construction and local development could slow down, putting jobs and investments at risk
– Fewer insurers may offer coverage, reducing choice and raising prices
– Any delay in renewing the program could cause serious market confusion and disruption, as it did in 2014

What Needs to Happen

Acting before the deadline would help avoid uncertainty and prevent disruptions in insurance markets. The House passed legislation in June 2026 extending the program through 2034, and recently, TRIA Reauthorization unanimously passed the Senate Banking Committee. As of September 29th, the bill passed the U.S. Senate by unanimous consent.

Thank you for taking a stand with us!