Senate Committee Introduces Bill to Extend Federal Terrorism Insurance for Seven Years

Story Summary

On April 28, 2026, Senators Dave McCormick, Tina Smith, Thom Tillis, and Ruben Gallego introduced the Terrorism Risk Insurance Program Reauthorization Act of 2026 in the Senate Committee on Banking, Housing, and Urban Affairs. The bipartisan legislation seeks to extend the federal terrorism risk insurance program, originally established by the Terrorism Risk Insurance Act of 2002, for seven years to prevent market disruptions before its expiration on December 31, 2027.