House Passes Bill to Reauthorize Terrorism Risk Insurance Program
The House of Representatives passed legislation to extend the federal Terrorism Risk Insurance Program through 2034, delivering a strong bipartisan vote in favor of maintaining stability in the commercial insurance market.
Lawmakers approved H.R. 7128, the TRIA Program Reauthorization Act of 2026, by a vote of 373-15.
The measure, sponsored by Rep. Mike Flood, R-Neb., chairman of the House Financial Services Subcommittee on Housing and Insurance, now heads to the Senate.
The program provides a federal backstop for property and casualty insurers facing catastrophic losses from certified acts of terrorism, having been created by Congress in the wake of the September 11, 2001, terrorist attacks.
Under the existing framework, private insurers must make terrorism coverage available to policyholders, while the Treasury Department shares in losses above certain thresholds once a certified event occurs.
House Financial Services Committee Chairman Rep. French Hill, R-Ark., emphasized the program’s core purpose during floor debate.
“The purpose of TRIA is spelled out in the original law,” Hill said.
“The law states that TRIA is designed to provide for a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism in order to protect consumers. That’s the goal here: to give policyholders access to the financial protection they need and the confidence they need to build skyscrapers, sports venues, and malls, and employ workers that drive our economy,” Hill added.
Rep. Mike Flood, the bill’s lead sponsor, highlighted the need for updates alongside the extension.
“This legislation would reauthorize TRIA, the program established by Congress in the aftermath of the September 11, 2001, terrorist attacks, through 2034,” Flood said.
“We are so fortunate that we have never seen a TRIA claim in the program’s entire history, and I hope that we never, ever see one. However, if this program is going to continue to exist with a public backstop, we should ensure we update its charter to protect taxpayers in the event of future claims, and we should work to ensure the certification process is transparent,” Flood added.
The bill extends the program’s authorization for seven additional years beyond its current expiration at the end of 2027.
It also raises the threshold for certifying an act of terrorism for program purposes — increasing the minimum insured losses required from $5 million to $10 million beginning in 2029.
Additionally, the legislation provides explicit statutory authority for the Treasury Department to issue public notifications regarding its process for determining whether an event qualifies as terrorism under the program.
TRIA operates as a public-private partnership.
Insurers retain responsibility for initial losses, with the federal government stepping in only for exceptionally large events that exceed defined retention levels.
No claims have ever been paid out under the program since its inception, a point frequently cited by supporters as evidence of its role in deterring market disruptions rather than serving as a frequent payout mechanism.
Business and industry groups, including the U.S. Chamber of Commerce and the American Bankers Association, have backed the reauthorization.
They argue that predictable terrorism coverage supports lending for commercial real estate projects, construction activity, and the operation of large venues and infrastructure that form key parts of the national economy.
Without reauthorization, analysts have warned of potential pullbacks by insurers in offering terrorism coverage, which could raise costs or limit availability for businesses in major metropolitan areas and high-profile sites.
Supporters of the legislation have framed the updates as prudent adjustments that strengthen taxpayer safeguards while preserving the program’s core function.
Raising the certification threshold, for instance, means federal involvement would require a higher bar of insured losses, reducing the likelihood of smaller events triggering government participation.
This sector supports millions of jobs in construction, property management, retail, hospitality, and related industries across the country.
The bill now advances to the Senate, where a companion measure has also been introduced.
BREAKING: Dolly Parton’s Cause Of Death Revealed: ‘Brief Battle’
Dolly Parton’s death came after a brief battle with cancer, her representatives revealed Tuesday.
The country music legend died Aug. 25 at Vanderbilt-Ingram Cancer Center in Nashville. She was 80.
Parton had been admitted to the cancer center Friday, four days before her death. Her representatives confirmed the cancer diagnosis in a statement to PEOPLE but did not disclose what type she had.
“Our beloved Dolly Parton spent her life and career bringing joy, laughter, hope and integrity into everything she touched. Her unmatched generosity reached the lives of countless people whom she would never meet, yet she was always there to offer a helping hand,” the statement read.
“Whether it be the hundreds of millions of books donated through her invaluable Imagination Library or funding research that helped create a lifesaving vaccine used around the world, Dolly’s unconditional love for all people was the guiding force for her lasting impact. After bravely facing a brief battle with cancer, Dolly departed her Earthly life today at the Vanderbilt-Ingram Cancer Center surrounded by loved ones,” the statement concluded.
The “Jolene” singer had also been dealing with kidney and autoimmune issues before her death, PEOPLE previously reported.
Just days earlier, Dolly Parton opened up about her declining health and acknowledged that she had put off addressing some medical issues while caring for her husband, Carl.
“As I’ve shared in video messages throughout the past year, I am dealing with some health issues that I just didn’t pay attention to when I was watching over [my husband] Carl. You know, this isn’t the first time I’ve had to manage something like this. Back in the early ’80s, I was down for several months with female issues, and I was struggling with my weight at the time too, so it’s not like I haven’t been through hard times with my health,” Parton told PEOPLE.
Her nephew, Bryan Seaver, announced her death in an Instagram video Tuesday on behalf of the Parton and Owens family.
“My name is Bryan Seaver, son of Cassie Parton, and I’m representing the Parton and Owens family today announcing the passing of my aunt, Dolly Rebecca Parton Dean, Sister, Sis and Granny to one generation and Gigi to the next,” he says in the video.
Seaver, who served as Parton’s head of security for more than two decades, said she had asked him years earlier to deliver the announcement.
“This video announcement is something Dolly asked of me years ago, before I fully absorbed it as a future reality,” he continued. “As her head of security for more than two decades, a role my father Larry held before me, I have imagined the heaviness of this moment but haven’t truly felt it until now.”
Seaver said the moment brought immense pride and heartbreak, but he took comfort in his faith that Parton had been reunited with Carl and other loved ones.
Seaver added: “It is an honor, an honor that is mixed with absolute pride and great sadness. But sadness lies with us, not with Dolly. Dolly has lived in the light and is in the arms of Jesus, surely met by Carl, her parents and countless othe
Shocking 'truth' behind Prince Harry's decision to quit major role
Prince Harry should have "resigned in disgrace" from the board of a controversial African wildlife charity, a commentator says. James Walker makes the bombshell remark in Wednesday's episode of this publication's podcast, Daily Expresso.
He and the show's host, JJ Anisiobi, delve into the Duke of Sussex's dramatic decision to step down from African Parks. James, commenting on the controversy, said: "When you hear about this stuff and how long it's been going on for, you should be resigning in disgrace. [Harry] should be saying: 'I'm not touching that with a barge pole. That is a failed entity. We're going nowhere near it'.
"But no. He's still saying he's going to 'support their mission'. And again this Caroline Pearce, executive director of Survival International, goes on to say: 'His departure doesn't undo that record'.
"She alleged that African Parks was aware of the abuses for years, but it was only after Survival complained to Harry that the charity finally commissioned an investigation."
James added: "Well, she's got a point."
It emerged on Monday (August 24) that Harry was no longer a board member of the wildlife charity.
The conservation organisation has admitted that human rights abuses were committed by its rangers against members of the semi-nomadic Baka group in Congo-Brazzaville.
African Parks has said since that it has improved its safeguarding processes both in the Odzala-Kokoua National Park and institutionally.
Its admission followed an independent human rights investigation into allegations guards managed and paid by the charity had beaten, raped and tortured indigenous people in Odzala-Kokoua National Park.
Harry was president of the charity for six years before he became a member of its board of directors in 2023.
A spokesman for the Duke said he remains an active and avid supporter of African Parks. He added: "The Duke is proud of his 10 years with African Parks and fully supports the ongoing strengthening of its board.
"His commitment to conservation in Africa continues and he remains a supporter of African Parks’ mission."
Human rights organisation, Survival International, said it had been calling on Harry to step down from African Parks for years.
The group's director, Caroline Pearce, said in a statement: "It’s outrageous that for 10 years Prince Harry has served African Parks while the organisation has been responsible for abuse and violence against Indigenous people.
"His departure doesn't undo that record — African Parks itself must now be held accountable, and must abandon this model of fortress conservation for good."
Survival International said indigenous peoples know how best to manage their land and the idea outsiders know better is racist and colonial.
