MBA Applauds House Passage of Terrorism Risk Insurance Act Reauthorization Bill
MBA President and CEO Bob Broeksmit, CMB, released the following statement after House passage of H.R. 7128, the TRIA Program Reauthorization Act of 2026.
“The House’s strong bipartisan passage of this legislation is a significant step toward ensuring the long-term stability and certainty that the commercial real estate finance market depends on. MBA commends Financial Services Committee Chair French Hill and Ranking Member Maxine Waters, Housing and Insurance Subcommittee Chair and Ranking Member Mike Flood and Emanuel Cleaver, and Homeland Security Chairman Andrew Garbarino for their leadership in advancing this critical legislation, and we thank House lawmakers for their overwhelming bipartisan support.
“TRIA has long served as a successful public-private partnership that protects taxpayers, supports economic growth, and ensures businesses of all sizes can obtain the terrorism risk insurance coverage needed to finance, develop, buy, and operate commercial properties across the country. With more than $5 trillion in commercial and multifamily mortgage debt outstanding, any lapse in the program would create unnecessary uncertainty, disrupt financing markets, and increase costs for property owners, businesses, and communities nationwide.
“Senators David McCormick, Tina Smith, Thom Tillis, and Ruben Gallego have introduced a bipartisan Senate companion TRIA extension bill. With only minor differences between the House and Senate measures, Congress has a clear opportunity to complete its work this year – well before TRIA expires on December 31, 2027.
“MBA encourages leaders in both chambers to advance a long-term TRIA reauthorization measure that President Trump can sign into law as soon as possible.”
Why it matters: Reauthorizing TRIA is crucial to continuing the availability of terrorism risk coverage for commercial properties. At $5.02 trillion in mortgage debt outstanding (according to MBA’s latest data), the commercial real estate finance sector provides the capital that finances the office, retail, industrial, and multifamily properties that underpin the U.S. economy. Without a long-term reauthorization of TRIA, terrorism risk insurance could become unavailable or prohibitively expensive, making commercial properties harder and more costly to finance, buy, and sell.
Go deeper: In February during MBA’s Commercial/Multifamily Finance Convention and Expo, MBA’s Mortgage Action Alliance (MAA) released a Call to Action urging members to contact their House and Senate offices to support swift action, urge co-sponsorship of H.R. 7128, and press congressional leaders to advance the bill before TRIA expires at the end of 2027.
What’s next: MBA is actively engaged with senators to advance the Senate’s TRIA legislation and encourages leaders in both chambers to quickly reconcile the remaining differences and send a final bill to President Trump as soon as possible – and well before the program’s December 31, 2027, expiration.
MBA submitted a letter to House leadership on Monday ahead of the vote, supporting H.R. 7128:
