TRIA Program Reauthorization Act of 2026

This bill aims to reauthorize and make improvements to the Terrorism Risk Insurance Program (TRIP) , extending its duration from 2027 to 2034 . This crucial extension ensures the continued availability of a federal backstop for commercial property and casualty insurance against acts of terrorism. By doing so, the legislation provides essential stability to the insurance market and protects businesses from the financial fallout of such catastrophic events. Significant changes are made to the process for certifying acts of terrorism , including increasing a monetary threshold from $5 million to $25 million for certain events. Furthermore, the bill mandates that the Secretary publish a Federal Register notice within 30 days of beginning a certification determination. It also introduces a provision where an act is not certified if the Secretary fails to do so within 90 days of that initial public notice. Finally, the legislation includes various technical amendments designed to update specific dates within the program's framework, such as changing "2022" to "2029" and "2024" to "2031" in certain sections. These adjustments are critical for aligning the program's operational timelines with its extended reauthorization period. Additionally, the bill clarifies the program's official designation by consistently referring to it as the "Terrorism Risk Insurance Program" throughout the relevant statute, ensuring consistency and accuracy in its legal text.