Terrorism Risk Insurance Program Reauthorization Act of 2026
Sponsored By: Senator McCormick, David [R-PA]
Introduced
Summary
Extends the Terrorism Risk Insurance Program through 2034. It would also delay the timetable for when the government must pursue mandatory recoupment after a terrorism-related payout.
Show full summary
- Insurers and policyholders: Would move the program termination date from 2027 to 2034, keeping TRIA's federal backstop in place through 2034.
- Recoupment timeline: Would change multiple year references in the mandatory recoupment rules and shift those recoupment dates into the late 2020s and the 2030s.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Extend terrorism insurance backstop to 2034
This bill would extend the federal terrorism reinsurance program from 2027 to 2034. It would also push back the scheduled mandatory industry recoupment years. Examples include 2022 to 2029, 2023 to 2030, 2024 to 2031, and some 2029 references to 2036. If enacted, insurers and commercial policyholders would keep access to the federal backstop longer, and the changes would take effect upon enactment.
Sponsors & CoSponsors
Sponsor
McCormick, David [R-PA]
PA • R
Cosponsors
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
Sen. Kim, Andy [D-NJ]
NJ • D
Sponsored 4/27/2026
Sen. Kennedy, John [R-LA]
LA • R
Sponsored 4/27/2026
Sen. Van Hollen, Chris [D-MD]
MD • D
Sponsored 4/27/2026
Sen. Ricketts, Pete [R-NE]
NE • R
Sponsored 4/27/2026
Sen. Cortez Masto, Catherine [D-NV]
NV • D
Sponsored 4/27/2026
Sen. Cramer, Kevin [R-ND]
ND • R
Sponsored 4/27/2026
Sen. Alsobrooks, Angela D. [D-MD]
MD • D
Sponsored 4/27/2026
Sen. Crapo, Mike [R-ID]
ID • R
Sponsored 4/27/2026
Raphael Warnock
GA • D
Sponsored 4/27/2026
Mike Rounds
SD • R
Sponsored 4/27/2026
Sen. Blunt Rochester, Lisa [D-DE]
DE • 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
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
Sen. Lummis, Cynthia M. [R-WY]
WY • R
Sponsored 4/27/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov