Senate Committee Advances Terrorism Risk Insurance Act (TRIA) Reauthorization
Issue Date: September 22, 2026
On September 17, 2026, the Senate Banking Committee unanimously approved S. 4395, a seven-year extension of the Terrorism Risk Insurance Act (TRIA) through 2034, sending the bill to the Senate floor. TRIA helps ensure the availability of terrorism insurance coverage, which is required to finance many commercial real estate projects across the country.
Ahead of the markup, NAR sent a letter and joined a coalition letter supporting the legislation. Both letters emphasized that Congress should reauthorize TRIA this year, well before its December 31, 2027 expiration, to avoid market uncertainty and disruptions in coverage availability. Past delays have led insurers to add conditional exclusions to policies, leaving borrowers exposed and putting commercial property owners at risk of technical default.
Congress is making progress, but the legislation is not yet law. Earlier this year, the House passed its own seven-year extension through 2034 with two modest reforms to improve transparency, while the Senate bill is a clean seven-year extension. The House and Senate must reconcile those differences and pass the same bill before it can be sent to the president.
NAR will continue working with key congressional leaders and coalition partners to advance a long-term TRIA reauthorization well before the 2027 program deadline.