The "TRIA Program Reauthorization Act of 2026" extends the Terrorism Risk Insurance Act of 2002 to 2034. It also amends the certification process and makes technical corrections to deadlines, extending them to 2036. This bill impacts the Terrorism Risk Insurance Program's reauthorization, improving certification processes, and updating technical language in the original act.
TRIA Program Reauthorization Act of 2026
This bill reauthorizes the Terrorism Risk Insurance Program through 2034. The program covers a portion of the losses incurred by private insurers for property and casualty insurance coverage for terrorism risk.
The bill also increases the amount of property and casualty insurance losses required for certification under the program beginning in 2029 and provides statutory authority for Department of the Treasury public notification requirements regarding the determination process for whether an act qualifies as an act of terrorism under this program.