S. 4395, the Terrorism Risk Insurance Program Reauthorization Act of 2026, advanced out of committee on September 17, 2026.
S. 4395 — Terrorism Risk Insurance Program Reauthorization Act of 2026
What it does
This bill extends the federal Terrorism Risk Insurance Program (TRIP) by seven years, from its current 2027 expiration to 2034. TRIP requires insurers to cover terrorism-related losses up to a federal backstop, protecting the insurance industry and property owners from catastrophic terrorism claims. The bill also delays the timeline for insurers to recoup their terrorism losses from policyholders through surcharges, pushing recoupment windows forward by seven years as well.
Quorum's transparency scan gave Terrorism Risk Insurance Program Reauthorization Act of 2026 a moderate transparency flag.
What happens next
S. 4395 advanced out of committee. It now moves to the other chamber.
Who is behind it
Filed by Dave McCormick. Cosponsored by Alex Padilla, Andy Kim, Angela Alsobrooks and Angus King.
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