PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 35 · Passed Senate amended · Jul 25, 2002
Terrorism Risk Insurance Act of 2002 - Establishes in the Department of the Treasury the Terrorism Insured Loss Shared Compensation Program, administered by the Secretary of the Treasury, who shall have general Program authorities and pay the Federal share of compensation for insured losses.(Sec. 4) Prescribes guidelines for: (1) mandatory insurance company participation in the Program; and (2) mandatory availability of property and casualty insurance for insured losses that does not differ materially from coverage limitations applicable to losses arising from events other than terrorism.Predicates Program participation by certain governmental or quasi-governmental entities upon a determination made by the Secretary before the occurrence of an act of terrorism in which the entity incurs an insured loss.Sets forth a formula for shared insurance loss coverage that includes: (1) a Federal share of compensation that is either 80 percent of aggregate insured losses of less than $10 billion, or 90 percent of aggregate insured losses that exceed $10 billion; and (2) a cap on the annual liability of the Federal share of compensation.Denies judicial review of the Secretary's determination.(Sec. 6) Terminates the Program one year after the date of enactment. Prescribes conditions for Program extension.Expresses the sense of Congress that the Secretary should make any determination regarding either Program extension or termination in sufficient time to enable participating insurance companies to include coverage for acts of terrorism in their policies for the second year of the Program, if extended.Mandates studies and reports to Congress on: (1) insurance coverage availability coupled with insurance industry capacity to absorb future losses resulting from acts of terrorism taking into account profitability; (2) the potential effects of acts of terrorism on the availability of life insurance and other insurance coverage; and (3) terrorism risk insurance premium rates charged by participating insurance companies for insured losses.(Sec. 8) Expresses the sense of the Congress that the insurance industry should build capacity and aggregate risk to provide affordable property and casualty insurance coverage for terrorism risk.(Sec. 9) Authorizes appropriations.(Sec. 10) Establishes a Federal cause of action for property damage, personal injury, or death arising out of or resulting from an act of terrorism which shall preempt State action, and which shall be the exclusive cause of action and remedy for claims (except for claims against terrorists or aiders and abettors, including governments and other entities).(Sec. 11) Provides for satisfaction of judgments from frozen assets of terrorists, terrorist organizations, and state sponsors of terrorism. Exempts certain property subject to the Vienna Convention on Diplomatic Relations or the Vienna Convention on Consular Relations.Amends the Victims of Trafficking and Violence Protection Act of 2000 to set forth a special rule for cases against Iran with respect to distribution of foreign military sales funds inadequate to satisfy the amount of compensatory awards against Iran.
People & committees
Rep. Oxley, Michael G. [R-OH-4] · R–OH
Legislative record
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Became Public Law No: 107-297.
Became Public Law No: 107-297.
Signed by President.
Signed by President.
Presented to President.
Presented to President.
Message on Senate action sent to the House.
Senate agreed to conference report by Yea-Nay Vote. 86 - 11. Record Vote Number: 252.
Senate roll call 252 · Individual votesConference report agreed to in Senate: Senate agreed to conference report by Yea-Nay Vote. 86 - 11. Record Vote Number: 252.
Senate roll call 252 · Individual votesCloture on the conference report to accompany H.R. 3210 invoked in Senate by Yea-Nay Vote. 85 - 12. Record Vote Number: 251.
Senate roll call 251 · Individual votesConference report considered in Senate by Unanimous Consent. (consideration: CR S11524-11530)
Cloture motion on the conference report to accompany H.R. 3210 presented in Senate.
On agreeing to the conference report Agreed to by voice vote.
Motions to reconsider laid on the table Agreed to without objection.
Conference report agreed to in House: On agreeing to the conference report Agreed to by voice vote.
The previous question was ordered without objection.
DEBATE - The House proceeded with one hour of debate on the conference report.
Mr. Oxley brought up conference report H. Rept. 107-779 for consideration under the provisions of H. Res. 607. (consideration: CR H8802-8809)
Rule H. Res. 607 passed House.
Conference papers: Senate report and manager's statement and message on House action held at the desk in Senate.
Rules Committee Resolution H. Res. 607 Reported to House. Rule provides for consideration of the conference report to H.R. 3210.
Conference report H. Rept. 107-779 filed. (text of conference report: CR H8722-8728)
Conference report filed: Conference report H. Rept. 107-779 filed.(text of conference report: CR H8722-8728)
Motion to reconsider laid on the table Agreed to without objection.
On motion that the House instruct conferees Agreed to by the Yeas and Nays: 373 - 0 (Roll no. 379). (consideration: CR H6138-6139)
House roll call 379 · Individual votesPOSTPONED VOTE - The Chair put the question on the motion to instruct conferees and announced that the ayes had prevailed. Mr. Fossella objected to the voice vote based on the absence of a quorum and the Chair postponed further proceedings until later in the day.
DEBATE - The House proceeded with one hour of debate on the motion to instruct conferees on H.R. 3210. The instructions contained in the motion seek to require the managers on the part of the House to agree to the provisions contained in section 11 of the Senate amendment, relating to satisfaction of judgements from frozen assets of terrorists, terrorist organizations, and state sponsors of terrorism.
Mr. Fossella asked unanimous consent that the House instruct conferees. (consideration: CR H6133-6137)
NOTICE OF INTENT TO OFFER MOTION - Mr. Fossella notified the House of his intent to offer a motion to instruct conferees on H.R. 3210. The instructions contained in the motion seek to require the managers on the part of the House to agree to the provisions contained in section 11 of the Senate amendment, relating to satisfaction of judgements from frozen assets of terrorists, terrorist organizations, and state sponsors of terrorism.
Motion to reconsider laid on the table Agreed to without objection.
The Speaker appointed conferees - from the Committee on the Judiciary for consideration of sec. 15 of the House bill and secs. 10 and 11 of the Senate amendment thereto, and modifications committed to conference: Sensenbrenner, Goodlatte, and Conyers.
The Speaker appointed conferees - from the Committee on Financial Services for consideration of the House bill and the Senate amendment thereto, and modifications committed to conference: Oxley, Baker, Ney, Kelly, Shays, Fossella, Ferguson, LaFalce, Kanjorski, Bentsen, Maloney (CT), and Hooley.
On motion that the House disagree to the Senate amendment, and agree to a conference Agreed to without objection. (consideration: CR 7/26/2002 H5962, H5969)
Mr. Oxley asked unanimous consent that the House disagree to the Senate amendment, and agree to a conference.
Message on Senate action sent to the House.
See also S. 2600.
Senate insists on its amendment, asks for a conference, appoints conferees Sarbanes; Dodd; Reed; Schumer; Gramm; Shelby; Enzi.
Passed Senate with an amendment by Unanimous Consent.
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
Senate struck all after the Enacting Clause and substituted the language of S. 2600 amended.
Measure laid before Senate by unanimous consent.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 252.
Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Motion to reconsider laid on the table Agreed to without objection.
On passage Passed by recorded vote: 227 - 193 (Roll no. 464).
House roll call 464 · Individual votesPassed/agreed to in House: On passage Passed by recorded vote: 227 - 193 (Roll no. 464).
House roll call 464 · Individual votesOn motion to recommit with instructions Failed by recorded vote: 173 - 243 (Roll no. 463).
House roll call 463 · Individual votesThe previous question on the motion to recommit with instructions was ordered without objection.
Floor summary: DEBATE - The House proceeded with 10 minutes of debate, equally divided and controlled, on the LaFalce motion to recommit with instructions. The instructions contained in the motion seek to strike section 15 of the base bill, which is related to litigation management and, also to insert new provisions which prevent commercial insurers from utilizing "pass-through" methods which would result in certain costs being passed on to customers.
Mr. LaFalce moved to recommit with instructions to Financial Services.
The previous question was ordered pursuant to the rule.
DEBATE - Pursuant to the provisions of H. Res. 297, the House proceeded with one hour of debate on the LaFalce amendment in the nature of a substitute.
DEBATE - The House proceeded with one hour of debate on H.R. 3210.
Rule provides for consideration of H.R. 3210 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. In lieu of the amendments recommended by the Committee on Financial Services and the Committee on Ways and Means, an amendment in the nature of a substitute consisting of the text of H.R. 3357 shall be considered as adopted. Measure will be considered read. A specified amendment is in order. The amendment in the nature of a substitute printed in the report of the Committee on Rules accompanying this resolution, if offered by Mr. LaFalce or his designee, shall be considered as read and debatable for one hour.
Considered under the provisions of rule H. Res. 297. (consideration: CR H8572-8630; text of measure as reported in House: CR H8589-8592)
Rule H. Res. 297 passed House.
Rules Committee Resolution H. Res. 297 Reported to House. Rule provides for consideration of H.R. 3210 with 1 hour of general debate. Previous question shall be considered as ordered without intervening motions except motion to recommit with or without instructions. In lieu of the amendments recommended by the Committee on Financial Services and the Committee on Ways and Means, an amendment in the nature of a substitute consisting of the text of H.R. 3357 shall be considered as adopted. Measure will be considered read. A specified amendment is in order. The amendment in the nature of a substitute printed in the report of the Committee on Rules accompanying this resolution, if offered by Mr. LaFalce or his designee, shall be considered as read and debatable for one hour.
Placed on the Union Calendar, Calendar No. 181.
Committee on Judiciary discharged.
Committee on Judiciary discharged.
Committee on The Budget discharged.
Committee on The Budget discharged.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 107-300, Part II.
Reported (Amended) by the Committee on Ways and Means. H. Rept. 107-300, Part II.
Referred sequentially to the House Committee on the Judiciary for a period ending not later than Nov. 26, 2001 for consideration of such provisions of the bill and amendment as fall within the jurisdiction of that committee pursuant to clause 1(k), rule X.
House Committee on The Budget Granted an extension for further consideration ending not later than Nov. 26, 2001.
Reported (Amended) by the Committee on Financial Services. H. Rept. 107-300, Part I.
Reported (Amended) by the Committee on Financial Services. H. Rept. 107-300, Part I.
Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Committee Consideration and Mark-up Session Held.
Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House
Introduced in House
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Source last updated: Sep 8, 2026. Consult Congress.gov for the current record.
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