PUBLIC LAW 110–160—DEC. 26, 2007 121 STAT. 1839 

Public Law 110–160 

110th Congress 

An Act 

To extend the Terrorism Insurance Program of the Department of the Treasury, 

and for other purposes. 

Be it enacted by the Senate and House of Representatives of 

the United States of America in Congress assembled, 

SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 

(a) SHORT TITLE.—This Act may be cited as the ‘‘Terrorism 

Risk Insurance Program Reauthorization Act of 2007’’. 

(b) TABLE OF CONTENTS.—The table of contents for this Act 

is as follows: 

Sec. 1. Short title; table of contents. 

Sec. 2. Definition of act of terrorism. 

Sec. 3. Reauthorization of the Program. 

Sec. 4. Annual liability cap. 

Sec. 5. Enhanced reports to Congress. 

SEC. 2. DEFINITION OF ACT OF TERRORISM. 

Section 102(1)(A)(iv) of the Terrorism Risk Insurance Act of 

2002 (15 U.S.C. 6701 note) is amended by striking ‘‘acting on 

behalf of any foreign person or foreign interest’’. 

SEC. 3. REAUTHORIZATION OF THE PROGRAM. 

(a) TERMINATION DATE.—Section 108(a) of the Terrorism Risk 

Insurance Act of 2002 (15 U.S.C. 6701 note) is amended by striking 

‘‘2007’’ and inserting ‘‘2014’’. 

(b) ADDITIONAL PROGRAM YEARS.—Section 102(11) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended 

by adding at the end the following: 

‘‘(G) ADDITIONAL PROGRAM YEARS.—Except when used 

as provided in subparagraphs (B) through (F), the term 

‘Program Year’ means, as the context requires, any of Program Year 1, Program Year 2, Program Year 3, Program 

Year 4, Program Year 5, or any of calendar years 2008 

through 2014.’’. 

(c) CONFORMING AMENDMENTS.—The Terrorism Risk Insurance 

Act of 2002 (15 U.S.C. 6701 note) is amended— 

(1) in section 102(7)(F)— 

(A) by inserting ‘‘and each Program Year thereafter’’ 

before ‘‘, the value’’; and 

(B) by striking ‘‘preceding Program Year 5’’ and 

inserting ‘‘preceding that Program Year’’; 

(2) in section 103(e)(1)(A), by inserting ‘‘and each Program 

Year thereafter’’ after ‘‘Year 5’’; 

(3) in section 103(e)(1)(B)(ii), by inserting before the period 

at the end ‘‘and any Program Year thereafter’’; 

15 USC 6701 

note. 

15 USC 6701 

note. 

Terrorism Risk 

Insurance 

Program 

Reauthorization 

Act of 2007. 

Dec. 26, 2007 

[H.R. 2761] 


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121 STAT. 1840 PUBLIC LAW 110–160—DEC. 26, 2007 

(4) in section 103(e)(2)(A), by striking ‘‘of Program Years 

2 through 5’’ and inserting ‘‘Program Year thereafter’’; 

(5) in section 103(e)(3), by striking ‘‘of Program Years 2 

through 5,’’ and inserting ‘‘other Program Year’’; and 

(6) in section 103(e)(6)(E), by inserting ‘‘and any Program 

Year thereafter’’ after ‘‘Year 5’’. 

SEC. 4. ANNUAL LIABILITY CAP. 

(a) IN GENERAL.—Section 103(e)(2) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended— 

(1) in subparagraph (A)— 

(A) by striking ‘‘(until such time as the Congress may 

act otherwise with respect to such losses)’’; and 

(B) in clause (ii), by striking ‘‘that amount’’ and 

inserting ‘‘the amount of such losses’’; and 

(2) in subparagraph (B), by inserting before the period 

at the end ‘‘, except that, notwithstanding paragraph (1) or 

any other provision of Federal or State law, no insurer may 

be required to make any payment for insured losses in excess 

of its deductible under section 102(7) combined with its share 

of insured losses under paragraph (1)(A) of this subsection’’. 

(b) NOTICE TO CONGRESS.—Section 103(e)(3) of the Terrorism 

Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended— 

(1) by adding at the end the following: ‘‘The Secretary 

shall provide an initial notice to Congress not later than 15 

days after the date of an act of terrorism, stating whether 

the Secretary estimates that aggregate insured losses will 

exceed $100,000,000,000.’’; and 

(2) by striking ‘‘and the Congress shall’’ and all that follows 

through the end of the paragraph and inserting a period. 

(c) REGULATIONS FOR PRO RATA PAYMENTS; REPORT TO CON- GRESS.—Section 103(e)(2)(B) of the Terrorism Risk Insurance Act 

of 2002 (15 U.S.C. 6701 note) is amended— 

(1) by striking ‘‘For purposes’’ and inserting the following: 

‘‘(i) IN GENERAL.—For purposes’’; and 

(2) by adding at the end the following: 

‘‘(ii) REGULATIONS.—Not later than 240 days after 

the date of enactment of the Terrorism Risk Insurance 

Program Reauthorization Act of 2007, the Secretary 

shall issue final regulations for determining the pro 

rata share of insured losses under the Program when 

insured losses exceed $100,000,000,000, in accordance 

with clause (i). 

‘‘(iii) REPORT TO CONGRESS.—Not later than 120 

days after the date of enactment of the Terrorism 

Risk Insurance Program Reauthorization Act of 2007, 

the Secretary shall provide a report to the Committee 

on Banking, Housing, and Urban Affairs of the Senate 

and the Committee on Financial Services of the House 

of Representatives describing the process to be used 

by the Secretary for determining the allocation of pro 

rata payments for insured losses under the Program 

when such losses exceed $100,000,000,000.’’. 

(d) DISCLOSURE.—Section 103(b) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended— 

(1) by redesignating paragraphs (3) and (4) as paragraphs 

(4) and (5), respectively; and 

Deadlines. 


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PUBLIC LAW 110–160—DEC. 26, 2007 121 STAT. 1841 

(2) by inserting after paragraph (2) the following: 

‘‘(3) in the case of any policy that is issued after the 

date of enactment of the Terrorism Risk Insurance Program 

Reauthorization Act of 2007, the insurer provides clear and 

conspicuous disclosure to the policyholder of the existence of 

the $100,000,000,000 cap under subsection (e)(2), at the time 

of offer, purchase, and renewal of the policy;’’. 

(e) SURCHARGES.—Section 103(e) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended— 

(1) in paragraph (7)— 

(A) in subparagraph (C), by inserting ‘‘133 percent 

of’’ before ‘‘any mandatory recoupment’’; and 

(B) by adding at the end the following: 

‘‘(E) TIMING OF MANDATORY RECOUPMENT.— 

‘‘(i) IN GENERAL.—If the Secretary is required to 

collect terrorism loss risk-spreading premiums under 

subparagraph (C)— 

‘‘(I) for any act of terrorism that occurs on 

or before December 31, 2010, the Secretary shall 

collect all required premiums by September 30, 

2012; 

‘‘(II) for any act of terrorism that occurs 

between January 1 and December 31, 2011, the 

Secretary shall collect 35 percent of any required 

premiums by September 30, 2012, and the 

remainder by September 30, 2017; and 

‘‘(III) for any act of terrorism that occurs on 

or after January 1, 2012, the Secretary shall collect 

all required premiums by September 30, 2017. 

‘‘(ii) REGULATIONS REQUIRED.—Not later than 180 

days after the date of enactment of this subparagraph, 

the Secretary shall issue regulations describing the 

procedures to be used for collecting the required premiums in the time periods referred to in clause (i). 

‘‘(F) NOTICE OF ESTIMATED LOSSES.—Not later than 

90 days after the date of an act of terrorism, the Secretary 

shall publish an estimate of aggregate insured losses, which 

shall be used as the basis for determining whether mandatory recoupment will be required under this paragraph. 

Such estimate shall be updated as appropriate, and at 

least annually.’’; and 

(2) in paragraph (8)— 

(A) in subparagraph (C)— 

(i) by striking ‘‘(including any additional amount 

included in such premium’’ and inserting ‘‘collected’’; 

and 

(ii) by striking ‘‘(D))’’ and inserting ‘‘(D)’’; and 

(B) in subparagraph (D)(ii), by inserting before the 

period at the end ‘‘, in accordance with the timing requirements of paragraph (7)(E)’’. 

SEC. 5. ENHANCED REPORTS TO CONGRESS. 

(a) STUDY AND REPORT ON INSURANCE FOR NUCLEAR, 

BIOLOGICAL, CHEMICAL, AND RADIOLOGICAL TERRORIST EVENTS.— 

Section 108 of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 

6701 note) is amended by adding at the end the following: 

Publication. 


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121 STAT. 1842 PUBLIC LAW 110–160—DEC. 26, 2007 

‘‘(f) INSURANCE FOR NUCLEAR, BIOLOGICAL, CHEMICAL, AND

RADIOLOGICAL TERRORIST EVENTS.— ‘‘(1) STUDY.—The Comptroller General of the United States 

shall examine— 

‘‘(A) the availability and affordability of insurance coverage for losses caused by terrorist attacks involving 

nuclear, biological, chemical, or radiological materials; 

‘‘(B) the outlook for such coverage in the future; and 

‘‘(C) the capacity of private insurers and State workers 

compensation funds to manage risk associated with 

nuclear, biological, chemical, and radiological terrorist 

events. 

‘‘(2) REPORT.—Not later than 1 year after the date of enactment of the Terrorism Risk Insurance Program Reauthorization 

Act of 2007, the Comptroller General shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate 

and the Committee on Financial Services of the House of Representatives a report containing a detailed statement of the 

findings under paragraph (1), and recommendations for any 

legislative, regulatory, administrative, or other actions at the 

Federal, State, or local levels that the Comptroller General 

considers appropriate to expand the availability and affordability of insurance for nuclear, biological, chemical, or radiological terrorist events.’’. 

(b) STUDY AND REPORT ON AVAILABILITY AND AFFORDABILITY

OF TERRORISM INSURANCE IN SPECIFIC MARKETS.—Section 108 of 

the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) 

is amended by adding at the end the following: 

‘‘(g) AVAILABILITY AND AFFORDABILITY OF TERRORISM INSURANCE IN SPECIFIC MARKETS.— 

‘‘(1) STUDY.—The Comptroller General of the United States 

shall conduct a study to determine whether there are specific 

markets in the United States where there are unique capacity 

constraints on the amount of terrorism risk insurance available. 

‘‘(2) ELEMENTS OF STUDY.—The study required by paragraph (1) shall contain— 

‘‘(A) an analysis of both insurance and reinsurance 

capacity in specific markets, including pricing and coverage 

limits in existing policies; 

‘‘(B) an assessment of the factors contributing to any 

capacity constraints that are identified; and 

‘‘(C) recommendations for addressing those capacity 

constraints. 

‘‘(3) REPORT.—Not later than 180 days after the date of 

enactment of the Terrorism Risk Insurance Program Reauthorization Act of 2007, the Comptroller General shall submit a 

report on the study required by paragraph (1) to the Committee 

on Banking, Housing, and Urban Affairs of the Senate and 

the Committee on Financial Services of the House of Representatives.’’. 

(c) ONGOING REPORTS.—Section 108(e) of the Terrorism Risk 

Insurance Act of 2002 (15 U.S.C. 6701 note) is amended— 

(1) in paragraph (1)— 

(A) by inserting ‘‘ongoing’’ before ‘‘analysis’’; and 

(B) by striking ‘‘, including’’ and all that follows 

through the end of the paragraph, and inserting a period; 

and 


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PUBLIC LAW 110–160—DEC. 26, 2007 121 STAT. 1843 

LEGISLATIVE HISTORY—H.R. 2761 (S. 2285): 

HOUSE REPORTS: No. 110–318 (Comm. on Financial Services). 

SENATE REPORTS: No. 110–215 accompanying S. 2285 (Comm. on Banking, 

Housing, and Urban Affairs). 

CONGRESSIONAL RECORD, Vol. 153 (2007): 

Sept. 19, considered and passed House. 

Nov. 16, considered and passed Senate, amended. 

Dec. 18, House concurred in Senate amendment. 

Æ 

(2) in paragraph (2)— 

(A) by inserting ‘‘and thereafter in 2010 and 2013,’’ 

after ‘‘2006,’’; and 

(B) by striking ‘‘subsection (a)’’ and inserting ‘‘paragraph (1)’’. 

Approved December 26, 2007. 


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