BOMA International Urges Congress to Advance Long-Term Reauthorization of the Terrorism Risk Insurance Act in 2026

WASHINGTON, Jan. 22, 2026 /PRNewswire/ -- With the Second Session of the 119th Congress now underway, the Building Owners and Managers Association (BOMA) International is calling on federal lawmakers to swiftly advance H.R.7128, the TRIA Program Authorization Act of 2026. As introduced, H.R. 7128 provides long-term reauthorization of the program that provides commercial property owners and managers with needed access to insurance against terrorist events.

BOMA's appeal comes amid renewed concerns about terrorism risks and potential economic instability should TRIA authorization lapse. Nearly 25 years after 9/11, credible terrorist threats persist. In the last 90 days alone, the FBI announced it thwarted three planned attacks targeting public venues, government facilities, logistics centers, restaurants, grocery stores, bars, and clubs in Michigan, Southern California, and North Carolina. These incidents underscore the ongoing necessity of maintaining TRIA as a critical backstop should future attacks evade detection.

Equally worrisome are the economic repercussions of inaction. TRIA plays an essential role in maintaining investment, development, and financial stability across the commercial real estate sector. Many building owners and managers rely on terrorism insurance coverage—made possible by TRIA—to meet lender requirements and secure financing needed for basic operations, growth, and long‑term planning. Without timely reauthorization, building owners risk losing access to that capital.

"TRIA is one of the most effective public–private partnerships in federal policy," said Mary Lue Peck, President and COO, BOMA International. "It protects not only buildings and businesses, but the communities and jobs that rely on them. Letting this critical program approach expiration would create avoidable instability in markets that support millions of Americans. Congress has the opportunity to provide certainty now—before widespread disruptions take hold."

TRIA is currently set to expire on December 31, 2027, under P.L. 116‑94. While the deadline may appear distant, the timing is urgent: commercial insurance policies written in 2027 could include notices that terrorism coverage will lapse at the end of that year. Such uncertainty could have widespread consequences for office buildings, hospitals, shopping centers, entertainment and sports venues, and multifamily housing properties.

BOMA stresses that allowing TRIA to approach expiration—as happened during the 2014–2015 lapse—would introduce significant instability. During that two‑week period, borrowers faced technical loan defaults, financing slowdowns, investment interruptions, and billions in commercial mortgage‑backed securities (CMBS) were put at risk. Past disruptions following 9/11 further demonstrate the magnitude of economic risk tied to lapses in terrorism coverage availability.

To ensure stability for this vital sector, and to provide certainty for commercial real estate markets, financial institutions, and taxpayers, BOMA International calls for Congress to make passage of H.R. 7128, a long-term TRIA reauthorization, a priority in 2026. 

About BOMA International

The Building Owners and Managers Association (BOMA) International serves the entire commercial real estate community, including owners, managers, property professionals, and service providers of all types of commercial buildings, such as office, industrial, medical, corporate, government, and mixed-use. BOMA's mission is to promote a thriving commercial real estate industry through advocacy, influence, and knowledge via a federation of 80 U.S. local associations and 18 global affiliates with over 18,000 members. For more info, visit boma.org.

SOURCE Building Owners and Managers Association International