PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Congressional Research Service
Version 00 · Introduced in House · Dec 17, 2005
Commission on Terrorism Risk Insurance Act - Amends the Terrorism Risk Insurance Act of 2002 to establish the Commission on Terrorism Risk Insurance.
Directs the Commission to identify and make recommendations regarding actions to: (1) encourage, facilitate, and sustain provision by the private domestic insurance industry of affordable coverage for losses due to acts of terrorism; (2) sustain or supplement the ability of the domestic insurance industry to cover losses resulting from acts of terrorism; (3) reduce the federal role over time in any continuing federal terrorism risk insurance program; and (4) evaluate whether coverage under the Terrorism Insurance Program is necessary to permit redevelopment at sites of previous acts of terrorism.
Instructs the Commission to evaluate and makes recommendations on the need for a federal terrorism risk insurance program.
Showing the opening paragraphs of the official summary.
Requires the Terrorism Insurance Program to remain in effect, but only to cover insured losses under property and casualty insurance issued on or before December 31, 2008, if the Commission determines that the market will not provide for renewal or generation of new insurance contracts necessary to permit redevelopment at the site of a previous act of terrorism.
People & committees
Rep. Fossella, Vito [R-NY-13] · R–NY
Legislative record
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Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.
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