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Terrorism Risk Insurance Program Reauthorization Act of 2026
Key claim: S4395 (119th Congress) would reauthorize the federal Terrorism Risk Insurance Program, the government backstop for insured losses from acts of terrorism.
Abstract
(S4395 · 119th Congress) Latest action (2026-04-27): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Why this matters
The Terrorism Risk Insurance Program is the federal reinsurance backstop that keeps commercial terrorism insurance available and affordable, with significant fiscal exposure if triggered. Periodic reauthorization is the primary vehicle by which Congress adjusts trigger thresholds, co-shares, and recoupment terms, so each reauthorization bill is a checkpoint for both national-security risk allocation and Treasury contingent liability.