Sponsors (5)
Introduced January 16, 2026 by Mike Flood · Last progress January 16, 2026
The bill increases administrative predictability and reduces federal exposure by raising the TRIA triggering threshold and clarifying statutory language, but it narrows coverage and tightens timing rules in ways that could leave mid-sized losses uninsured and provoke procedural denials and litigation.
Taxpayers face lower federal fiscal exposure because the post-2028 per-act TRIA threshold is raised from $5M to $10M, reducing the number of events that qualify for the federal backstop.
Insurers and policyholders gain clearer, faster notice and a fixed 90-day certification window (Federal Register notice within 30 days and a 90‑day decision rule), increasing predictability for claims processing and program administration.
State regulators, insurers, and implementing agencies benefit from clearer statutory language and reinforced state primacy, reducing ambiguity about the interaction of federal terrorism-insurance rules and state insurance law and lowering administrative burdens.
Small businesses and insurers may lose TRIA backstop coverage for incidents after 2028 with losses between $5M and $10M because the qualifying threshold is raised, increasing uninsured risk and potential costs for affected policyholders.
Policyholders and insurers risk denial of coverage if the Secretary delays publishing the required notice and the 90-day certification window is missed, turning a procedural delay into a substantive coverage loss.
Narrower timing and notice rules and any resulting ambiguities increase litigation risk—for claimants, insurers, and taxpayers—over whether procedural deadlines were met, raising legal costs and uncertainty.
Based on analysis of 8 sections of legislative text.
Raises the per‑act certification threshold to $10M for acts in 2029+, requires Federal Register notices within 30 days and a 90‑day certification limit, and makes technical wording edits.
Makes procedural and technical changes to the federal terrorism risk insurance program: it raises the per‑act monetary threshold used in federal certification for certain future events, requires the Treasury Secretary to publish public Federal Register notices early in the certification process, and adds timing limits for completing certifications. The bill also standardizes wording and headings in the statute and makes a textual edit to a provision referencing state insurance law (the precise effect of that edit is unclear from the provided text). The changes mainly affect insurers and businesses that buy commercial property/casualty coverage by altering when the federal backstop can be triggered and how quickly the federal government must act and notify the public; they do not appropriate new funds and mostly change administrative rules and definitions within the existing program.