What is the current status of HR 7128?

HR 7128 is currently: Passed House.

How did the House vote on HR 7128?

In the House, the recorded vote was 373 yea to 15 nay (Passed).

Who sponsored HR 7128?

HR 7128 was sponsored by Mike Flood (R), Rep.

Extends Federal Terrorism Insurance Backstop to 2034

IntroducedJanuary 16, 2026

Passed House3 months ago

Intro

House

Senate

Pres

Sitting in the Senate Banking, Housing, and Urban Affairs Committee.

Most bills stop at this point and never get a vote.

Finance and Financial SectorDisaster relief and insuranceInsurance industry and regulationLife, casualty, property insuranceState and local government operationsTerrorism

Why This Matters

This bill keeps the federal Terrorism Risk Insurance Program running seven more years and sets firm deadlines for the government to decide whether an attack officially counts as terrorism.

If your business is damaged in an attack, Treasury must decide within 90 days, or at most one year, whether your federally backed terrorism coverage applies.

Who this affects

Commercial property owners · Businesses buying insurance · Insurance companies · Insurance policyholders

What changes is this bill making?

1Pushes the program's end date from December 31, 2027 to December 31, 2034, keeping federal help for insurers paying large terrorism claims.
2Starting with attacks in 2029, raises the minimum insured losses needed for an attack to qualify from $5 million to $10 million.
3Requires the Treasury Secretary to publicly announce within 30 days when reviewing whether an attack counts as terrorism, then decide within 90 days.
4Lets Treasury extend a review up to 365 days after the damage if information is lacking, but an attack not certified by the deadline cannot qualify.
5Moves the deadlines for recovering federal terrorism payouts through surcharges on insurance policies seven years later, and requires a yearly list of attacks Treasury reviewed.

Read the detailed summary

TRIA Program Reauthorization Act of 2026This 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. The bill also increases the amount of property and casualty insurance losses required for certification under the program beginning in 2029 and provides statutory authority for Department of the Treasury public notification requirements regarding the determination process for whether an act qualifies as an act of terrorism under this program.

Read full document

Last changed today · checked hourly

Extends Federal Terrorism Insurance Backstop to 2034

IntroducedJanuary 16, 2026

Passed House3 months ago

Intro

House

Senate

Pres

Sitting in the Senate Banking, Housing, and Urban Affairs Committee.

Most bills stop at this point and never get a vote.

Finance and Financial SectorDisaster relief and insuranceInsurance industry and regulationLife, casualty, property insuranceState and local government operationsTerrorism

Why This Matters

This bill keeps the federal Terrorism Risk Insurance Program running seven more years and sets firm deadlines for the government to decide whether an attack officially counts as terrorism.

If your business is damaged in an attack, Treasury must decide within 90 days, or at most one year, whether your federally backed terrorism coverage applies.

Who this affects

Commercial property owners · Businesses buying insurance · Insurance companies · Insurance policyholders

What changes is this bill making?

1Pushes the program's end date from December 31, 2027 to December 31, 2034, keeping federal help for insurers paying large terrorism claims.
2Starting with attacks in 2029, raises the minimum insured losses needed for an attack to qualify from $5 million to $10 million.
3Requires the Treasury Secretary to publicly announce within 30 days when reviewing whether an attack counts as terrorism, then decide within 90 days.
4Lets Treasury extend a review up to 365 days after the damage if information is lacking, but an attack not certified by the deadline cannot qualify.
5Moves the deadlines for recovering federal terrorism payouts through surcharges on insurance policies seven years later, and requires a yearly list of attacks Treasury reviewed.

Read the detailed summary

Read full document

Last changed today · checked hourly