House Committee Advances TRIA Reauthorization

On January 22, 2026, the House Financial Services Committee overwhelmingly voted to advance legislation (H.R. 7128) reauthorizing the Terrorism Risk Insurance Program (TRIA). The 51-2 bipartisan vote bodes well for future action in the House and Senate.

The legislation advanced by the Committee would increase the threshold for a covered event from $5,000,000 to $10,000,000 for events occurring in 2029 or thereafter and would extend the program through 2034, a seven-year extension from the current expiration date of 2027. The bill would also set up a timeline, referred to as a “shot clock” by bill sponsors, for the Secretary of the Treasury to certify the event as an act of terrorism.

Following 9/11, TRIA was created to stabilize the insurance and commercial real estate markets. It has been reauthorized four times since, and ICSC strongly supports a fifth reauthorization in 2026. 

Due to the unpredictable and catastrophic nature of terrorist events, the private market is unable to adequately model for the risk. The TRIA program has provided a backstop to stabilize the market and ensure continued availability of coverage.

ICSC is part of a wide coalition of industry groups representing both policy holders and insurance companies advocating for the program’s reauthorization. TRIA holds significant support from members of Congress on both sides of the aisle.

Click here to view the full five-hour markup.

Click here to view three minutes of remarks made by the lead sponsor of the legislation, Representative Mike Flood (R-NE-1) .

For more information contact gpp@icsc.com.