APCIA Applauds Senate Passage of Long-Term TRIA Reauthorization

WASHINGTON - The American Property Casualty Insurance Association (APCIA) today applauded the U.S. Senate's unanimous passage of the Terrorism Risk Insurance Program Reauthorization Act of 2026, legislation that would extend the Terrorism Risk Insurance Act (TRIA) and preserve a critical public-private partnership that supports economic stability, investment, job creation, and national resilience. The Senate approved the legislation by unanimous consent after the Senate Banking Committee advanced the measure with unanimous bipartisan support earlier this month. The following statement may be attribute to Sam Whitfield, APCIA's senior vice president of federal government relations and political engagement.

"APCIA commends the Senate for its unanimous passage of long-term TRIA reauthorization. This action reflects strong bipartisan recognition that TRIA remains essential to maintaining economic stability, supporting investment, and ensuring the availability of terrorism risk insurance for businesses and communities across the country.

"TRIA has protected consumers, businesses, taxpayers, and the broader economy for more than two decades while operating at virtually no cost to taxpayers. Timely reauthorization provides certainty for insurers, policyholders, lenders, employers, and developers who depend on a stable and predictable terrorism risk insurance market.

"We thank Senate leadership, Senate Banking Committee Chairman Tim Scott, Ranking Member Elizabeth Warren, Senator Dave McCormick, Senator Tina Smith, and the bill's bipartisan supporters for advancing this important legislation.

"With strong bipartisan votes now achieved in both the House and Senate, Congress has sent a clear message that TRIA remains a national priority. APCIA urges lawmakers to quickly reconcile any differences between the bills and deliver a long-term reauthorization to the President before year-end."