Sponsors (5)
Introduced January 16, 2026 by Mike Flood · Last progress January 16, 2026
The bill increases transparency and clarifies TRIA rules while raising the post-2028 incident threshold to focus federal support on larger losses, but it risks slowing formal certification and payouts, excluding some smaller incidents from protection, and adding implementation costs.
Insurers, policyholders, financial institutions, and taxpayers get clearer, more predictable certification timing because the Treasury must provide public notice and a 90-day window before certifying a terrorist act, giving stakeholders earlier warning and time to prepare.
Financial institutions and taxpayers benefit from a higher per-incident dollar threshold (post-2028) of $10,000,000, which reduces the chance of trivial events being certified and focuses TRIA resources on larger-loss incidents.
Insurers, policyholders, and administrators face less ambiguity because statutory language, headings, and references are clarified and made consistent, simplifying interpretation and compliance.
Victims, policyholders, and insurers could experience slower access to federal backstops and insurance recoveries because the 90-day public notice requirement delays formal certification and any associated federal actions.
Insurance companies and some policyholders may be left exposed because raising the post-2028 per-incident threshold to $10,000,000 could exclude smaller-loss terrorist incidents from TRIA protections.
Taxpayers and federal employees may face higher administrative costs because the new procedural steps and added transparency requirements increase Treasury workload and could require more staffing or longer decision processes.
Based on analysis of 8 sections of legislative text.
Amends the federal terrorism-risk insurance statute to revise how the government certifies acts of terrorism, adjust a dollar threshold for qualifying losses beginning in 2029, require prompt Federal Register notices during certification, and make drafting and terminology updates throughout the law. The changes affect the Treasury's certification process, insurance market participants, policyholders who buy terrorism coverage, and administrative transparency of the program.