H.R. 7128
Extends federal terrorism insurance program to 2034
Keeps the federal program that shares terrorism-related insurance losses with private insurers running through 2034, and raises the loss amount needed to qualify starting in 2029.
- Reauthorizes the Terrorism Risk Insurance Program through 2034
- Covers part of private insurers' losses for property and casualty coverage of terrorism risk
- Starting in 2029, raises the loss amount required for an act to be certified under the program
- Gives the Treasury Department authority to publicly notify how it decides if an act qualifies
Passed the House · Senate's turn