Sponsors (5)
The bill increases clarity and predictability for insurers and regulators and reduces federal fiscal exposure by raising the post‑2028 threshold, but it shifts more risk onto some policyholders and creates procedural traps that could deny coverage and spur litigation.
State insurance regulators and insurers: the bill affirms clearer statutory language about insurance regulation and state primacy, reducing ambiguity about federal-state interaction and supporting consistent state-level oversight.
Insurers, policyholders, and claims administrators: the bill requires faster, clearer notice (Federal Register within 30 days) and fixes a 90-day certification window, increasing predictability for claims processing and program administration.
Taxpayers: by raising the post-2028 per-act TRIA threshold from $5 million to $10 million, the bill reduces the number of events that qualify for the federal backstop, lowering potential federal exposure.
Small and mid-size policyholders and insurers: incidents occurring after 2028 with insured losses between $5 million and $10 million may no longer qualify for TRIA backstop coverage, increasing out‑of‑pocket exposure for affected businesses and insurers.
State regulators, insurers, and policyholders: if amendments weaken state authority or narrow McCarran-Ferguson protections, the bill could invite federal preemption, create regulatory uncertainty, raise compliance costs, and lead to higher insurance premiums.
Insurers and claimants: strict timing and notice requirements (fixed 90‑day certification window and reliance on a timely Federal Register notice) create a risk that administrative delays by the Secretary could lead to denials of coverage and increased litigation over procedural compliance.
Based on analysis of 8 sections of legislative text.
Modifies the terrorism risk insurance program by raising the post-2028 certification threshold to $10M and adding Federal Register notice and 90-day certification timing rules, plus technical edits.
Introduced January 16, 2026 by Mike Flood · Last progress January 16, 2026
Makes targeted changes to the federal terrorism risk insurance framework by changing how and when the Treasury Secretary must notify the public and certify ‘‘acts of terrorism’’ for coverage under the program, raises the monetary threshold for certification for future incidents (effective 2029 and later), and implements technical wording and name changes throughout the statute. It also alters an existing clause governing the interaction of federal law with State insurance regulation, though the provided text does not show the exact language so the practical effect on State authority is unclear.