Which U.S. federal law created the Terrorism Risk Insurance Program after the September 11 attacks?

The Terrorism Risk Insurance Act created the U.S. Terrorism Risk Insurance Program after the September 11 attacks.

Congress enacted the law in 2002 after terrorism coverage became difficult or unavailable in parts of the commercial property market. The program provides a federal backstop for certified acts of terrorism, subject to deductibles, insurer participation, and statutory limits.

Participating insurers must make terrorism coverage available for certain commercial property and casualty policies, although policyholders may generally choose whether to purchase it. The program is administered by the U.S. Department of the Treasury and has been extended several times.

TRIA is not a general federal guarantee for every insurance claim. Its specialized mechanism applies only when statutory certification and other program conditions are met.