Terrorism Risk Insurance Program Reauthorization Act of 2026
Sponsored By: Senator Sen. McCormick, David [R-PA]
Introduced
Summary
The bill would extend the Terrorism Risk Insurance Act through 2034 and delay when insurers must repay federal payouts under the program.
Show full summary
- Businesses and policyholders: Would keep the federal terrorism-insurance backstop for seven more years, through 2034, helping preserve market access and price predictability for companies that buy coverage.
- Insurers and reinsurers: Would push the mandatory recoupment trigger years farther into the late 2020s and 2030s, keeping the existing recoupment framework but deferring when those triggers apply.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Extend terrorism insurance backstop and delay recoupment
If enacted, this bill would extend the federal terrorism insurance backstop from 2027 to 2034. It would also push back the statutory years that trigger mandatory recoupment by insurers. For example, it would replace 2022 with 2029, 2023 with 2030, and 2024 with 2031, and move some later-year references to 2036. These edits would keep the current program formulas but delay when insurers might have to recoup federal payments, and they would take effect upon enactment.
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Sponsors & CoSponsors
Sponsor
Sen. McCormick, David [R-PA]
PA • R
Cosponsors
Sen. Ricketts, Pete [R-NE]
NE • R
Sponsored 4/27/2026
Sen. Cortez Masto, Catherine [D-NV]
NV • D
Sponsored 4/27/2026
Kevin Cramer
ND • R
Sponsored 4/27/2026
Sen. Alsobrooks, Angela D. [D-MD]
MD • D
Sponsored 4/27/2026
Mike Crapo
ID • R
Sponsored 4/27/2026
Raphael Warnock
GA • D
Sponsored 4/27/2026
Mike Rounds
SD • R
Sponsored 4/27/2026
Rep. Blunt Rochester, Lisa [D-DE-At Large]
DE • D
Sponsored 4/27/2026
Bill Hagerty
TN • R
Sponsored 4/27/2026
Charles Schumer
NY • D
Sponsored 4/27/2026
Sen. Banks, Jim [R-IN]
IN • R
Sponsored 4/27/2026
Sen. Moreno, Bernie [R-OH]
OH • R
Sponsored 4/27/2026
Cynthia Lummis
WY • R
Sponsored 4/27/2026
Sen. Smith, Tina [D-MN]
MN • D
Sponsored 4/27/2026
Sen. Tillis, Thomas [R-NC]
NC • R
Sponsored 4/27/2026
Sen. Gallego, Ruben [D-AZ]
AZ • D
Sponsored 4/27/2026
Sen. Scott, Tim [R-SC]
SC • R
Sponsored 4/27/2026
Andy Kim
NJ • D
Sponsored 4/27/2026
Sen. Kennedy, John [R-LA]
LA • R
Sponsored 4/27/2026
Chris Van Hollen
MD • D
Sponsored 4/27/2026
Katie Britt
AL • R
Sponsored 4/27/2026
Sen. Warner, Mark R. [D-VA]
VA • D
Sponsored 4/27/2026
Roll Call Votes
No roll call votes available for this bill.
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