Senate Banking Committee Advances Bipartisan TRIA Reauthorization

Momentum continues to build for extending the Terrorism Risk Insurance Act (TRIA), a critical federal program that helps protect the association community and broader economy against terrorism-related risks.

The Senate Banking Committee voted unanimously to favorably report the Terrorism Risk Insurance Program Reauthorization Act of 2026 (S. 4395), clearing an important hurdle for the bipartisan legislation.

Support for the bill also continues to grow, with Sens. Deb Fischer (R-NE) and Angus King (I-ME) joining as cosponsors and bringing the total to more than 40. The committee's favorable action and expanding bipartisan support strengthen efforts to include the legislation in a must-pass package before the end of the year.

Introduced in April, S. 4395 would extend the federal terrorism risk insurance backstop for seven years, through Dec. 31, 2034, providing long-term market certainty well ahead of the program's current expiration in 2027.

TRIA helps ensure that meetings, conferences and other large-scale events can maintain access to affordable, reliable insurance coverage. Its reauthorization was a leading priority for association advocates during ASAE's 2026 Legislative Fly-In, and ASAE will continue urging Congress to preserve this essential public-private partnership.

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