The Terrorism Risk Insurance Act expired in December 2014.
But on Jan. 12, 2015, Pres. Obama signed the Terrorism Risk Insurance Program Reauthorization Act of 2015 into law. TRIA is extended for 6 years until Dec. 31, 2020.
History of the Terrorism Risk Insurance Program
On November 26, 2002, the President signed into law the Terrorism Risk Insurance Act of 2002 (Pub. L. 107–297, 116 Stat. 2322) [TRIA]. TRIA created a temporary federal program that provides for a transparent system of shared public and private compensation for certain insured losses resulting from a certified act of terror. The Treasury Department administers the program.
On December 22, 2005, the President signed into law the Terrorism Risk Insurance Extension Act of 2005 (Pub. L. 109-144, 119 Stat. 2660) [TRIEA]. TRIEA extended the life of TRIP through December 31, 2007.
On December 26, 2007, the President signed into law the Terrorism Risk Insurance Program Reauthorization Act of 2007 (Pub. L. 110-160, 121 Stat. 1839) [TRIPRA 2007] which further extended TRIP through December 31, 2014.
On January 12, 2015, the President signed into law the Terrorism Risk Insurance Program Reauthorization Act of 2015 (Pub. L. 114-1, 129 Stat. 3) [TRIPRA 2015], which amends the expiration date of TRIP to December 31, 2020.
With the enactment of TRIPRA 2015, Treasury has provided guidance to address, on an interim basis, certain aspects relating to the implementation of the Program. The guidance is available here as well as under the link to Interim Guidance. Additional materials addressing the TRIA, TRIEA, TRIPRA 2007, TRIPRA 2015, and TRIP, including regulations and interpretive letters, are contained on this website.