YourVoice.Now Summary
Corporate BenefitsTransparency & AccountabilityFederal backup for business terrorism insurance would last through 2034 instead of ending in 2027.
Corporate Benefits
After a big attack, the government pays most of an insurer's losses past what the insurer must cover itself. Today that help ends on December 31, 2027. The bill moves the end to December 31, 2034.
After it pays out, the government gets its money back through a fee on business insurance bills. For an attack this year, the fee would be due by September 30, 2031. Today the deadline is 2029.
Transparency & Accountability
Because the program has a built-in end date, Congress must act to keep it going. Moving that date from 2027 to 2034 means the next required renewal comes seven years later.
More about this bill
Businesses could keep buying terrorism insurance with federal backup for seven more years. The Terrorism Risk Insurance Program now ends on December 31, 2027. The bill would move that end date to December 31, 2034. While the program runs, insurers must offer terrorism coverage on their business property and liability policies. After a large attack, the government pays 80 percent of an insurer's losses above the insurer's own share. The program covers business insurance only, not your home, car, life, or health policy. When the government pays out, it later earns money back through a fee added to business insurance bills. The bill gives more time to collect that fee. For an attack today, the deadline would move from September 30, 2029, to September 30, 2031. For attacks in 2030, 35 percent would be due by that 2031 date. The rest would be due by September 30, 2036. For attacks in 2031 or later, all of it would be due by September 30, 2036. The Senate passed the bill on September 28, 2026. The House has received it but has not voted on it.
Congressional Summary
Terrorism Risk Insurance 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.
Legislative Subjects
Details
- Congress
- 119th
- Chamber
- Senate
- Status
- summarized
- Action
- Passed Senate
- Action Date
- 2026-09-28
- Date Added
- 2026-10-15
- Source
- Congress.gov →
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