The full Senate passed the Terrorism Risk Insurance Program Reauthorization Act of 2026 (S. 4395), by unanimous consent on Sept. 28 – extending the federal terrorism insurance backstop through 2034. The vote follows the Senate Banking Committee unanimous 24-0 approval of the bill on Sept. 17. The Council joined a coalition letter urging the committee’s support ahead of that vote.
The Senate’s bill differs from the version passed by the House in June, so lawmakers must now resolve differences between the two bills before sending a final measure to the president. The industry is pushing for enactment by the end of 2026, well ahead of the program’s Dec. 31, 2027, expiration. The Council will continue pursuing opportunities to move the legislation through a must-pass vehicle and will keep members updated.
