Fostering Resilience to Terrorism Act of 2013

To extend the Terrorism Risk Insurance Program of the Department of the Treasury for 10 years, and for other purposes. 1. Short title This Act may be cited as the Fostering Resilience to Terrorism Act of 2013 2. Certification of acts of terrorism Section 102(1) of the Terrorism Risk Insurance Act of 2002 ( 15 U.S.C. 6701 (1) in subparagraph (A), in the matter preceding clause (i), by striking Secretary, in concurrence with Secretary of Homeland Security, in concurrence with the Secretary of the Treasury, (2) in subparagraph (B), in the matter preceding clause (i), by striking Secretary Secretary of Homeland Security (3) in subparagraph (D), by striking Secretary Secretary of Homeland Security 3. 10-year extension of Terrorism Risk Insurance Program (a) Program years Subparagraph (G) of section 102(11) of the Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) is amended by striking 2014 2024 (b) Timing of mandatory recoupment Subclause (III) of section 103(e)(7)(E)(i) of the Terrorism Risk Insurance Act of 2002 ( 15 U.S.C. 6701 2017 2024 (c) Termination date Subsection (a) of section 108 of the Terrorism Risk Insurance Act of 2002 ( 15 U.S.C. 6701 2014 2024 (d) Ongoing reports regarding market conditions for terrorism risk insurance Paragraph (2) of section 108(e) of the Terrorism Risk Insurance Act of 2002 ( 15 U.S.C. 6701 and 2013 2013, 2017, 2020, and 2023 4. Homeland security enhancements (a) Provision of information to insureds Section 103 of the Terrorism Risk Insurance Act of 2002 ( 15 U.S.C. 6701 (j) Provision of homeland security information and best practices to insureds The Secretary of Homeland Security shall provide to insureds under the Program, through the Secretary of the Treasury— (1) timely homeland security information, including terrorism risk information, at the appropriate classification level; and (2) information on best practices to foster resilience to an act of terrorism. . (b) Research on program participation and best practices The Secretary of Homeland Security shall conduct research to determine the extent to which insureds participating in the Terrorism Risk Insurance Program under title I of the Terrorism Risk Insurance Act of 2002 ( 15 U.S.C. 6701

Summary: Fostering Resilience to Terrorism Act of 2013 - Amends the Terrorism Risk Insurance Act of 2002 to revise the definition of an "act of terrorism" to mean any act that is certified as meeting the specified criteria for such an act by the Secretary of Homeland Security (DHS), in concurrence with the Secretary of the Treasury (currently, by the Secretary of the Treasury in concurrence with the Secretary of State). Extends the Terrorism Insurance Program until December 31, 2024 (under current law the Program expires on December 31, 2014). Requires reports in 2017, 2020, and 2030 on the findings of the President's Working Group on Financial Markets pursuant to an ongoing analysis regarding the long-term availability and affordability of insurance for terrorism risk. Directs the DHS Secretary to: (1) provide to insureds under the Program, through the Secretary of the Treasury, timely homeland security information, including terrorism risk information, at the appropriate classification level and information on best practices to foster resilience to a terrorist act; and (2) conduct research to determine the extent to which such insureds, particularly insureds in critical infrastructure sectors, incorporate such best practices information into their business operations.