IB 
Union Calendar No. 201 
110TH CONGRESS 
1ST SESSION H. R. 2761 
[Report No. 110–318] 
To extend the Terrorism Insurance Program of the Department of the 
Treasury, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 18, 2007 
Mr. CAPUANO (for himself, Mrs. MALONEY of New York, Mr. ACKERMAN, Mr. 
MEEKS of New York, Mrs. MCCARTHY of New York, Mr. CROWLEY, Mr. 
ISRAEL, Mr. KING of New York, Mr. GUTIERREZ, Mr. WATT, Mr. SHER-
MAN, Mr. LYNCH, Mr. SCOTT of Georgia, Mr. AL GREEN of Texas, Mr. 
CLEAVER, Mr. LINCOLN DAVIS of Tennessee, Mr. SIRES, Mr. MAHONEY 
of Florida, Mr. MURPHY of Connecticut, Mr. WEXLER, Mr. BOREN, Mr. 
FRANK of Massachusetts, Mr. HODES, and Mr. SHAYS) introduced the 
following bill; which was referred to the Committee on Financial Services 
SEPTEMBER 6, 2007 
Additional sponsors: Mr. RAMSTAD, Mr. DONNELLY, Mr. HIGGINS, Ms. 
HOOLEY, Mr. HINOJOSA, Ms. BERKLEY, Mr. COURTNEY, and Mr. ROTHMAN 
SEPTEMBER 6, 2007 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on June 18, 2007] 
A BILL 
To extend the Terrorism Insurance Program of the 
Department of the Treasury, and for other purposes. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Terrorism Risk Insur-
ance Revision and Extension Act of 2007’’. 
SEC. 2. TERMINATION OF PROGRAM. 
Subsection (a) of section 108 of the Terrorism Risk In-
surance Act of 2002 (15 U.S.C. 6701 note) is amended by 
striking ‘‘December 31, 2007’’ and inserting ‘‘December 31, 
2022’’. 
SEC. 3. REVISION OF TERRORISM INSURANCE PROGRAM. 
(a) IN GENERAL.—The Terrorism Risk Insurance Act 
of 2002 is amended— 
(1) by striking sections 101, 102, and 103 and 
inserting the following new sections: 
‘‘SEC. 101. CONGRESSIONAL FINDINGS AND PURPOSE. 
‘‘(a) FINDINGS.—The Congress finds that— 
‘‘(1) the ability of businesses and individuals to 
obtain property and casualty insurance at reasonable 
and predictable prices, in order to spread the risk of 
both routine and catastrophic loss, is critical to eco-
nomic growth, urban development, and the construc-
tion and maintenance of public and private housing, 
as well as to the promotion of United States exports 
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and foreign trade in an increasingly interconnected 
world; 
‘‘(2) property and casualty insurance firms are 
important financial institutions, the products of 
which allow mutualization of risk and the efficient 
use of financial resources and enhance the ability of 
the economy to maintain stability, while responding 
to a variety of economic, political, environmental, 
and other risks with a minimum of disruption; 
‘‘(3) the ability of the insurance industry to 
cover the unprecedented financial risks presented by 
potential acts of terrorism in the United States can 
be a major factor in the recovery from terrorist at-
tacks, while maintaining the stability of the economy; 
‘‘(4) widespread financial market uncertainties 
have arisen following the terrorist attacks of Sep-
tember 11, 2001, including the absence of information 
from which financial institutions can make statis-
tically valid estimates of the probability and cost of 
future terrorist events, and therefore the size, funding, 
and allocation of the risk of loss caused by such acts 
of terrorism; 
‘‘(5) a decision by property and casualty insur-
ers to deal with such uncertainties, either by termi-
nating property and casualty coverage for losses aris-
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ing from terrorist events, or by radically escalating 
premium coverage to compensate for risks of loss that 
are not readily predictable, could seriously hamper 
ongoing and planned construction, property acquisi-
tion, and other business projects, generate a dramatic 
increase in rents, and otherwise suppress economic 
activity; 
‘‘(6) the United States Government should co-
ordinate with insurers to provide financial compensa-
tion to insured parties for losses from acts of ter-
rorism, contributing to the stabilization of the United 
States economy in a time of national crisis, and peri-
odically assess the ability of the financial services in-
dustry to develop the systems, mechanisms, products, 
and programs necessary to create a viable financial 
services market for private terrorism risk insurance 
that will lessen the financial participation of the 
United States Government; 
‘‘(7) in addition to a terrorist attack on the 
United States using conventional means or weapons, 
there is and continues to be a potential threat of a 
terrorist attack involving the use of unconventional 
means or weapons, such as nuclear, biological, chem-
ical, or radiological agents; 
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‘‘(8) as nuclear, biological, chemical, or radio-
logical acts of terrorism (known as NBCR terrorism) 
present a threat of loss of life, injury, disease, and 
property damage potentially unparalleled in scope 
and complexity by any prior event, natural or man- 
made, the Federal Government’s responsibility in pro-
viding for and preserving national economic security 
calls for a strong Federal role in ensuring financial 
compensation and economic recovery in the event of 
such an attack; 
‘‘(9) a report issued by the Government Account-
ability Office in September 2006 concluded that ‘any 
purely market-driven expansion of coverage’ for 
NBCR terrorism risk is ‘highly unlikely in the fore-
seeable future’, and the September 2006 report from 
the President’s Working Group on Financial Markets 
concluded that reinsurance for NBCR terrorist events 
is virtually unavailable and that ‘[g]iven the general 
reluctance of insurance companies to provide coverage 
for these types of risks, there may be little potential 
for future market development’; 
‘‘(10) group life insurance companies are impor-
tant financial institutions whose products make life 
insurance coverage affordable for millions of Ameri-
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