Terrorism Risk Insurance Act

Terrorism Risk Insurance Act
Other short titles	Terrorism Risk Insurance Act of 2002
Long title	An Act to ensure the continued financial capacity of insurers to provide coverage for risks from terrorism.
Acronyms (colloquial)	TRIA, TRPA
Nicknames	Terrorism Risk Protection Act
Enacted by	the 107th United States Congress
Effective	November 26, 2002
Citations
Public law	107-297
Statutes at Large	116 Stat. 2322
Codification
Titles amended	15 U.S.C.: Commerce and Trade; 28 U.S.C.: Judiciary and Judicial Procedure; 12 U.S.C.: Banks and Banking;
U.S.C. sections amended	15 U.S.C. ch. 93 § 6701; 28 U.S.C. ch. 97 § 1610; 12 U.S.C. ch. 3 § 248;
Legislative history
	Introduced in the House as H.R. 3210 by Michael Oxley (R-OH) on November 1, 2001; Committee consideration by House Financial Services, House Ways and Means, House Budget, House Judiciary; Passed the House on November 29, 2001 (227-193, Roll call vote 464, via Clerk.House.gov); Passed the Senate on July 25, 2002 (Passed unanimous consent); Reported by the joint conference committee on November 13, 2002; agreed to by the House on November 14, 2002 (Agreed voice vote) and by the Senate on November 19, 2002 (86-11, Roll call vote 252, via Senate.gov); Signed into law by President George W. Bush on November 26, 2002;
United States Supreme Court cases
	Ministry of Defense and Support for Armed Forces of Islamic Republic of Iran v. Elahi, 556 U.S. 366 (2009); Bank Markazi v. Peterson, No. 14-770, 578 U.S. ___ (2016); Rubin v. Islamic Republic of Iran, No. 16-534, 583 U.S. ___ (2018);

The Terrorism Risk Insurance Act (TRIA) (H.R. 3210, Pub. L. 107–297 (text) (PDF)) is a United States federal law signed into law by President George W. Bush on November 26, 2002. The Act created a federal "backstop" for insurance claims related to acts of terrorism. The Act "provides for a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism."^[1] The Act was originally set to expire December 31, 2005, was extended for two years in December 2005, and was extended again on December 26, 2007. The Terrorism Risk Insurance Program Reauthorization Act expired on December 31, 2014.^[2]

On January 7, 2015 the House of Representatives voted 416-5 to approve the Terrorism Risk Insurance Program Reauthorization Act of 2015, (H.R. 26, Pub. L. 114–1 (text) (PDF)) extending the TRIA through December 31, 2020. The Senate approved the extension the day after by a vote of 93-4.^[3] On January 12, 2015, President Barack Obama signed the extension into law.

On December 17, 2019 the House of Representatives voted 297-120 to approve the Further Consolidated Appropriations Act, 2020 (H.R. 1865, Pub. L. 116–94 (text) (PDF)) which included the Terrorism Risk Insurance Program Reauthorization Act of 2019 extending the TRIA through December 31, 2027.^[4] The Senate approved the extension on December 19, 2019 by a vote of 71-23. The following day, President Donald Trump signed the bill into law.

^ "Terrorism Risk Insurance Program". U.S. Treasury Department Website. U.S. Treasury Department. Retrieved 20 March 2013.
^ "The Terrorism Risk Insurance Act of 2002 (TRIA), as amended by the Terrorism Risk Insurance Extension Act of 2005 (TRIEA) and the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA)" (PDF). Terrorism Risk Insurance Program Office, U.S. Treasury Department. Retrieved 20 March 2013.
^ Dinan, Stephen (January 8, 2015). "Terrorism insurance bill passes two days after Coburn's exit". The Washington Times. The Washington Times, LLC. Retrieved January 8, 2015.
^ "U.S. Dept. of Treasury, Terrorism Risk Insurance Program".

[1] "Terrorism Risk Insurance Program". U.S. Treasury Department Website. U.S. Treasury Department. Retrieved 20 March 2013.

[2] "The Terrorism Risk Insurance Act of 2002 (TRIA), as amended by the Terrorism Risk Insurance Extension Act of 2005 (TRIEA) and the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA)" (PDF). Terrorism Risk Insurance Program Office, U.S. Treasury Department. Retrieved 20 March 2013.

[3] Dinan, Stephen (January 8, 2015). "Terrorism insurance bill passes two days after Coburn's exit". The Washington Times. The Washington Times, LLC. Retrieved January 8, 2015.

[4] "U.S. Dept. of Treasury, Terrorism Risk Insurance Program".

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