Dear Chairman Scott and Ranking Member Warren:
The U.S. Chamber of Commerce writes in strong support of S. 4395, the Terrorism Risk Insurance Program Reauthorization Act of 2026, and urges the Committee to report the bill favorably to the full Senate.
Just days after marking the 25th anniversary of the September 11 attacks, it is fitting that the Senate Banking Committee is moving to reauthorize the very program Congress created in response to that tragedy. The tragic loss of life and destruction in New York City, Shanksville, PA, and at the Pentagon forever changed our world, and terrorism threats have not dissipated. The businesses that rely on TRIA's protections deserve the long-term certainty that only a timely reauthorization can provide.
Since its enactment in 2002, TRIA has served as a critical public-private risk-sharing mechanism, ensuring the commercial availability of terrorism risk insurance and enabling a more resilient economic recovery in the event of a terrorist attack. It is vital that Congress reauthorize TRIA well in advance of its expiration at the end of 2027, so businesses that rely on the program can remain confident it will not lapse.
We commend Chairman Scott, Ranking Member Warren, and Senators McCormick, Smith, Tillis, and Gallego for their leadership in advancing this legislation, which has earned the broad bipartisan support of 37 members of the Senate. We urge the Committee to favorably report S. 4395 without delay, and we look forward to working with Congress to ensure timely reauthorization.
Sincerely,
Alex Swindle
Director, Center for Capital Markets Competitiveness
U.S. Chamber of Commerce
