2026 Report on the Effectiveness of the Terrorism Risk Insurance Program
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The Terrorism Risk Insurance Act of 2002 (TRIA), as amended, created the Terrorism Risk Insurance Program (TRIP), a federal backstop for insurers facing catastrophic losses from terrorist attacks. TRIA mandates that the Secretary of the Treasury submit a report to Congress by June 30, 2026 evaluating the overall effectiveness of TRIP, including statutory factors such as market conditions, availability and affordability of terrorism risk insurance, and the Program's fiscal impact on the federal government. To inform this report, the Federal Insurance Office (FIO) within the Department of the Treasury is soliciting public comments from insurance companies, policyholders, trade associations, and other stakeholders. The agency is seeking input on specific statutory evaluation criteria as well as broader feedback on any issues affecting the Program's effectiveness. This is a notice-and-comment process, meaning stakeholders have a formal opportunity to shape the content and conclusions of the congressionally mandated report. Comments received will be reviewed by FIO and considered by the Secretary when drafting the final submission to Congress.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Treasury/FIO is formally soliciting public comments to inform the congressionally mandated TRIP effectiveness report due June 30, 2026
- Stakeholders may submit feedback on statutory evaluation factors including market conditions, insurance availability, affordability, and federal fiscal impact
- The report scope covers the overall effectiveness of TRIP as established under TRIA (2002) and its amendments
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