Sponsors (5)
The bill increases clarity, predictability, and fiscal protection for the terrorism-insurance program—benefiting insurers, regulators, and taxpayers—but tightens timing and threshold rules that can deny coverage, spur litigation, and risk state–federal regulatory uncertainty.
Insurers, regulators, and federal administrators get clearer, standardized statutory language that reduces ambiguity and lowers administrative burden for implementing the terrorism-insurance program.
Insurance companies and policyholders receive faster, clearer notice and a fixed 90-day certification window when the Secretary evaluates whether an incident is a certified act of terrorism, improving predictability for claims processing and program administration.
Taxpayers face reduced federal backstop exposure because the post-2028 per-act threshold is raised from $5 million to $10 million, lowering the number of events that would trigger federal payments.
Policyholders and insurers risk coverage denials or lost claims if the Secretary delays or misses the required Federal Register notice or the 90-day certification window, creating immediate coverage gaps and likely litigation.
Policyholders suffering losses between $5 million and $10 million after 2028 may lose access to the TRIA federal backstop, shifting financial burden onto businesses and insurers for mid-sized incidents.
If the amendment is interpreted to weaken state primacy or narrow McCarran-Ferguson protections, state regulators and insurers could face federal preemption, increased compliance costs, regulatory uncertainty, and potentially higher premiums.
Based on analysis of 8 sections of legislative text.
Modifies TRIA: raises post‑2028 per‑act certification threshold to $10M, tightens Secretary certification timing and Federal Register notice rules, and makes textual edits.
Makes targeted changes to the federal terrorism insurance program (TRIA). It updates statutory wording for clarity, raises the per-incident dollar threshold used in certain certification rules for acts of terrorism (increasing the threshold to $10 million for acts in 2029 or later), and imposes new timing and public‑notice rules for the Secretary’s certification process (including a 90‑day condition and a requirement to publish a Federal Register notice within 30 days of beginning certification). Several provisions are purely technical renaming and punctuation edits.
Official title: TRIA Program Reauthorization Act of 2026
Introduced January 16, 2026 by Mike Flood · Last progress July 13, 2026