MBA Applauds Senate Committee Advancement of TRIA Reauthorization

MBA’s President and CEO Bob Broeksmit, CMB, released the following statement after the Senate Banking Committee advanced the Terrorism Risk Insurance Program Reauthorization Act of 2026 for consideration by the full Senate:

“The Senate Banking Committee’s bipartisan advancement of a seven-year reauthorization of the Terrorism Risk Insurance Act is an important step toward providing continued stability and certainty in commercial real estate markets. MBA thanks Senators David McCormick, Tina Smith, Thom Tillis, and Ruben Gallego for their ongoing leadership and bipartisan efforts to advance this legislation.

“TRIA has long served as a vital public-private partnership that supports economic growth, protects taxpayers, and ensures businesses of all sizes can access the terrorism risk coverage they need. Reauthorizing the program will provide greater certainty for lenders, investors, and insurers and help support continued investment in commercial real estate and the broader economy.

“MBA commends the House for passing its companion TRIA reauthorization bill by a wide bipartisan margin in June. With the House and Senate bills closely aligned, Congress is well positioned to complete this important work. We urge both chambers to act swiftly to finalize legislation and send it to President Trump for his signature before the end of the year.”