Treasury's Annual Checkup on Terrorism Risk Insurance: Still Covering the Basics?
Published Date: 3/25/2026
Notice
Summary
The 2026 report checks how well the Terrorism Risk Insurance Program (TRIP) is working to help insurance companies cover losses from terrorist attacks. It affects insurers, businesses, and the government by making sure insurance stays available and affordable. The Treasury is asking for feedback by May 8, 2026, to decide if any changes or updates are needed to keep the program strong and ready.
Analyzed Economic Effects
6 provisions identified: 2 benefits, 0 costs, 4 mixed.
TRIP keeps terrorism insurance available
TRIP (the Terrorism Risk Insurance Program) provides a federal backstop so insurers can cover losses from terrorist attacks and helps keep terrorism risk insurance available and affordable. Treasury will analyze TRIP's overall effectiveness in a report due June 30, 2026 and is requesting comments by May 8, 2026.
Houses of worship included in review
Treasury will specifically analyze the availability and affordability of terrorism risk insurance for places of worship in its June 30, 2026 Effectiveness Report. Stakeholders may submit comments on this topic by May 8, 2026.
Small insurer competitiveness under review
Treasury will assess whether TRIP affects the competitiveness of small insurers in the terrorism risk insurance marketplace as part of the Effectiveness Report to Congress (due June 30, 2026). Treasury is collecting data through its 2026 TRIP Data Call and seeking stakeholder comments by May 8, 2026.
Cyber-related terrorism coverage considered
Treasury is seeking comments on terrorism insurance issues presented by cyber-related losses and on possible changes to TRIP to encourage uptake of cyber-related terrorism insurance, including changes to covered lines, insurer deductibles, or the federal share percentage. Comments are due May 8, 2026.
NBCR exposures and reinsurance under review
Treasury is asking for comment on the availability of terrorism risk insurance for losses from nuclear, biological, chemical, or radiological (NBCR) exposures, and on the availability of reinsurance or capital markets support for such insurance. Submit comments by May 8, 2026.
Reauthorization timing and potential changes
Treasury is seeking comments about a potential reauthorization of TRIP beyond its current expiration date of December 31, 2027, including whether reauthorization is needed or whether any Program requirements should be changed. Comments must be submitted by May 8, 2026.
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