Senate Hearing on Terrorism Risk Insurance Program (TRIP) Reauthorization
January 1, 2020
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The Frame
This hearing serves as the legislative foundation for deciding whether and how to extend the federal government's role in backing terrorism insurance, which directly affects the availability and cost of insurance for large-scale commercial properties and infrastructure.
Potentially affected actors named in the source documents. Mention is not a position.
Commercial property owners
The availability and cost of terrorism insurance directly impact the ability of these owners to secure financing and manage risk.
Insurance companies
These companies must comply with federal requirements and manage risk exposure under the TRIP framework.
Last recorded activity January 1, 2020.
Next step not available in the current record.
Summary
Key Facts
- The Terrorism Risk Insurance Program (TRIP) was established by the Terrorism Risk Insurance Act of 2002 following the September 11 attacks.
- The program has been previously reauthorized by Congress in 2005, 2007, and 2015.
- The hearing's primary objective is to explore how the private insurance industry can absorb more terrorism risk, reducing the need for federal intervention.
- The committee heard testimony from experts representing Marsh, The Wharton School, and the Congressional Research Service.
- Multiple industry groups, including the Mortgage Bankers Association and the American Property Casualty Insurance Association, submitted written statements for the record.
Frequently Asked Questions
What is the Terrorism Risk Insurance Program (TRIP)?
Why is Congress holding hearings on this program?
Why It Matters
This hearing serves as the legislative foundation for deciding whether and how to extend the federal government's role in backing terrorism insurance, which directly affects the availability and cost of insurance for large-scale commercial properties and infrastructure.
News Coverage
Lobbying Activity
1607 STRATEGIES, LLC
on behalf of Travelers Companies, Inc. and subsidiaries
2026
“Issues related to the property and casualty insurance industry. Issues related to the Terrorism Risk Insurance Program. H.R. 7128, TRIA Program Reauthorization Act of 2026, all provisions.”
1607 STRATEGIES, LLC
on behalf of American Property Casualty Insurance Association
2026
“Issues relating to the reauthorization of the National Flood Insurance Program and other Issues related to flood insurance. Issues related to the Fair Credit Reporting Act. Issues regarding environmental policies and their consideration by insurers and state insurance regulators. Issues related to the Terrorism Risk Insurance Program. H.R. 7128, TRIA Program Reauthorization Act of 2026, all provisions.”
1607 STRATEGIES, LLC
on behalf of Travelers Companies, Inc. and subsidiaries
2026
“Issues related to the property and casualty insurance industry. Issues related to the Terrorism Risk Insurance Program. H.R. 7128, TRIA Program Reauthorization Act of 2026, all provisions.”
1607 STRATEGIES, LLC
on behalf of American Property Casualty Insurance Association
2026
“Issues relating to the reauthorization of the National Flood Insurance Program and other Issues related to flood insurance. Issues related to the Fair Credit Reporting Act. Issues regarding environmental policies and their consideration by insurers and state insurance regulators. Issues related to the Terrorism Risk Insurance Program. H.R. 7128, TRIA Program Reauthorization Act of 2026, all provisions.”
STEPTOE LLP
on behalf of WHOLESALE & SPECIALTY INSURANCE ASSOCIATION
1607 STRATEGIES, LLC
on behalf of American Property Casualty Insurance Association
2021
“Issues related to the reauthorization and implementation of the National Flood Insurance Program. Issues related to the reauthorization of the Terrorism Risk Insurance Act. Marijuana impairment research.”
1607 STRATEGIES, LLC
on behalf of American Property Casualty Insurance Association
2021
“Issues related to the reauthorization and implementation of the National Flood Insurance Program. Issues related to the reauthorization of the Terrorism Risk Insurance Act.”
1607 STRATEGIES, LLC
on behalf of Travelers Companies, Inc. and subsidiaries
2020
“Issues related to the property and casualty insurance industry. S. 2877, Terrorism Risk Insurance Program Reauthorization Act of 2019, all provisions. H.R.1865, Further Consolidated Appropriations Act, provisions relating to terrorism risk insurance. H.R. 6074, Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020, provisions affecting the property and casualty insurance industry. H.R. 6201, Families First Coronavirus Response Act, provisions affecting the property and casualty insurance industry. H.R. 6379, Take Responsibility for Workers and Families Act, provisions affecting the property and casualty insurance industry. S. 3548, CARES Act, provisions affecting the property and casualty insurance industry. H.R. 748, CARES Act, provisions affecting the property and casualty insurance industry. H.R. 133, Consolidated Appropriations Act, 2021, provisions relating to coronavirus stimulus and relief.”
1607 STRATEGIES, LLC
on behalf of American Property Casualty Insurance Association
2020
“Issues related to the reauthorization and implementation of the National Flood Insurance Program. Issues related to the reauthorization of the Terrorism Risk Insurance Act. S. 2877, Terrorism Risk Insurance Program Reauthorization Act of 2019, all provisions. H.R.1865, Further Consolidated Appropriations Act, provisions relating to terrorism risk and flood insurance. S. 2187, The National Flood Insurance Program Reauthorization and Reform (NFIP Re) Act of 2019, all provisions. H.R.6074, Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020, provisions affecting property casualty insurers. H.R.6201, Families First Coronavirus Response Act, provisions affecting property casualty insurers. H.R.6379, Take Responsibility for Workers and Families Act, provisions affecting property casualty insurers. S.3548, CARES Act, provisions affecting property casualty insurers. H.R.748, CARES Act, provisions affecting property casualty insurers. H.R. 8377, Continuings Appropriations Act, 2021 and Other Extensions Act, provisions affecting property casualty insurers. H.R. 133, Consolidated Appropriations Act, 2021, provisions related to coronavirus stimulus and relief.”
1607 STRATEGIES, LLC
on behalf of Travelers Companies, Inc. and subsidiaries
2020
“Issues related to the property and casualty insurance industry. S. 2877, Terrorism Risk Insurance Program Reauthorization Act of 2019, all provisions. H.R.1865, Further Consolidated Appropriations Act, provisions relating to terrorism risk insurance. H.R. 6074, Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020, provisions affecting the property and casualty insurance industry. H.R. 6201, Families First Coronavirus Response Act, provisions affecting the property and casualty insurance industry. H.R. 6379, Take Responsibility for Workers and Families Act, provisions affecting the property and casualty insurance industry. S. 3548, CARES Act, provisions affecting the property and casualty insurance industry. H.R. 748, CARES Act, provisions affecting the property and casualty insurance industry.”
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Shift toward private risk
The committee is explicitly focused on reducing federal exposure by encouraging the private insurance market to cover more risk.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance65How much this matters to a regular citizen
- Controversy20Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz10Current news / social attention level
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