Bipartisan TRIA Reauthorization Bill Introduced in Senate

A bipartisan group of senators introduced legislation last week to extend a critical federal program that helps safeguard the association community and the broader economy against terrorism-related risks. 

On April 28, Sens. Mark Warner (D-VA), Dave McCormick (R-PA), Tina Smith (D-MN), Thom Tillis (R-NC), and Ruben Gallego (D-AZ) introduced the Terrorism Risk Insurance Program Reauthorization Act of 2026. The bill would extend the federal terrorism risk insurance backstop for 7 years, through Dec. 31, 2034, helping to ensure long-term market stability and avoid a lapse ahead of the program’s current 2027 expiration.

Originally established in 2002 after the 9/11 terrorist attacks, the program commonly known as TRIA has long functioned as a vital public-private partnership. It enables insurers to offer terrorism risk coverage while protecting taxpayers and supporting economic activity across sectors that depend on large-scale events, travel, and business continuity.

The newly introduced legislation includes several updates designed to strengthen the program over time. Among them, the bill raises the threshold for certified acts of terrorism from $5 million to $10 million beginning in 2029 and includes provisions to enhance transparency within the U.S. Department of the Treasury.

Momentum for reauthorization is building across Capitol Hill. Earlier this year, the House Financial Services Committee advanced companion legislation (H.R. 7128) by a wide margin, signaling strong bipartisan recognition of the program's importance.

For the association community, TRIA remains a cornerstone policy. It helps ensure that meetings, conferences and large-scale events – key drivers of economic impact and community engagement – can continue with access to affordable and reliable insurance coverage. Reauthorization of the program was a top priority for association advocates during ASAE’s 2026 Legislative Fly-in in March, where members, including five participants, led by OSAP's own Jarrod A. Clabaugh, CAE, representing Ohio, met with lawmakers to underscore the importance of preserving this essential protection.

This article was provided to OSAP by ASAE's Power of Associations and Inroads.