S. 4395

Terrorism Risk Insurance Program Reauthorization Act of 2026

Sponsor: David McCormick

42 cosponsors
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Official summary

Written by the Congressional Research Service.

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.

Text of the bill

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Sec. 2. 7-year extension of Terrorism Risk Insurance Program Since introduced

(a) Termination date. Section 108(a) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended by striking 2027 and inserting 2034.

(b) Timing of mandatory recoupment. Section 103(e)(7)(E)(i) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended—

(1) in subclause (I)—

(A) by striking 2022 and inserting 2029; and

(B) by striking 2024 and inserting 2031;

(2) in subclause (II)—

(A) by striking 2023 and inserting 2030;

(B) by striking 2029 and inserting 2036; and

(C) by striking 2024 and inserting 2031; and

(3) in subclause (III)—

(A) by striking 2029 and inserting 2036; and

(B) by striking 2024 and inserting 2031.