IIB 
110TH CONGRESS 
1ST SESSION H. R. 4299 
IN THE SENATE OF THE UNITED STATES 
DECEMBER 12, 2007 
Received 
DECEMBER 13, 2007 
Read twice and referred to the Committee on Banking, Housing, and Urban 
Affairs 
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 Representa-
tives of the United States of America in Congress assembled, 
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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. 6. Coverage of group life insurance. 
Sec. 7. Large event reset. 
Sec. 8. Availability of life insurance without regard to lawful foreign travel. 
Sec. 9. Program trigger. 
Sec. 10. Applicability. 
SEC. 2. DEFINITION OF ACT OF TERRORISM. 
Section 102(1)(A)(iv) of the Terrorism Risk Insur-
ance 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 Ter-
rorism 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.—Ex-
cept when used as provided in subparagraphs 
(B) through (F), the term ‘Program Year’ 
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(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 Ter-
rorism 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 in-
sured losses under paragraph (1)(A) of this sub-
section’’. 
(b) NOTICE TO CONGRESS.—Section 103(e)(3) of the 
Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 
note) is amended— 
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(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; RE-
PORT TO CONGRESS.—Section 103(e)(2)(B) of the Ter-
rorism 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 deter-
mining the pro rata share of insured losses 
under the Program when insured losses ex-
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ceed $100,000,000,000, in accordance with 
clause (i). 
‘‘(iii) REPORT
TO
CONGRESS.—Not 
later than 120 days after the date of en-
actment 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 Com-
mittee on Financial Services of the House 
of Representatives describing the process 
to be used by the Secretary for deter-
mining 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 
(2) by inserting after paragraph (2) the fol-
lowing: 
‘‘(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, 
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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 pol-
icy;’’. 
(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; 
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‘‘(II) for any act of terrorism 
that occurs between January 1 and 
December 31, 2011, the Secretary 
shall collect 35 percent of any re-
quired premiums by September 30, 
2012, and the remainder by Sep-
tember 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 en-
actment of this subparagraph, the Sec-
retary shall issue regulations describing 
the procedures to be used for collecting the 
required premiums in the time periods re-
ferred 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 esti-
mate of aggregate insured losses, which shall be 
used as the basis for determining whether man-
datory recoupment will be required under this 
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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 addi-
tional 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 NU-
CLEAR, 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: 
‘‘(f) INSURANCE FOR NUCLEAR, BIOLOGICAL, CHEM-
ICAL, 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 
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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, chem-
ical, 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 Comp-
troller 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 de-
tailed statement of the findings under paragraph 
(1), and recommendations for any legislative, regu-
latory, administrative, or other actions at the Fed-
eral, State, or local levels that the Comptroller Gen-
eral 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 AF-
FORDABILITY OF TERRORISM INSURANCE IN SPECIFIC 
MARKETS.—Section 108 of the Terrorism Risk Insurance 
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Act of 2002 (15 U.S.C. 6701 note) is amended by adding 
at the end the following: 
‘‘(g) AVAILABILITY AND AFFORDABILITY OF TER-
RORISM 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 re-
quired by paragraph (1) shall contain— 
‘‘(A) an analysis of both insurance and re-
insurance capacity in specific markets, includ-
ing pricing and coverage limits in existing poli-
cies; 
‘‘(B) an assessment of the factors contrib-
uting to any capacity constraints that are iden-
tified; and 
‘‘(C) 
recommendations 
for 
addressing 
those capacity constraints. 
‘‘(3) REPORT.—Not later than 180 days after 
the date of enactment of the Terrorism Risk Insur-
ance Program Reauthorization Act of 2007, the 
Comptroller General shall submit a report on the 
study required by paragraph (1) to the Committee 
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on Banking, Housing, and Urban Affairs of the Sen-
ate and the Committee on Financial Services of the 
House of Representatives.’’. 
(c) ONGOING REPORTS.—Section 108(e) of the Ter-
rorism Risk Insurance Act of 2002 (15 U.S.C. 6701 note) 
is amended— 
(1) in paragraph (1)— 
(A) by inserting ‘‘ongoing’’ before ‘‘anal-
ysis’’; and 
(B) by striking ‘‘, including’’ and all that 
follows through the end of the paragraph, and 
inserting a period; and 
(2) in paragraph (2)— 
(A) by inserting ‘‘and thereafter in 2010 
and 2013,’’ after ‘‘2006,’’; and 
(B) by striking ‘‘subsection (a)’’ and in-
serting ‘‘paragraph (1)’’. 
SEC. 6. COVERAGE OF GROUP LIFE INSURANCE. 
(a) FINDINGS AND PURPOSE.—Section 101 of the 
Terrorism Risk Insurance Act of 2002 (15 U.S.C. 6701 
note) is amended— 
(1) in subsection (a)— 
(A) in paragraph (5), by striking ‘‘and’’ at 
the end; 
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(B) by redesignating paragraph (6) as 
paragraph (8); and 
(C) by inserting after paragraph (5) the 
following new paragraphs: 
‘‘(6) group life insurance companies are impor-
tant financial institutions whose products make life 
insurance coverage affordable for millions of Ameri-
cans and often serve as their only life insurance ben-
efit; 
‘‘(7) the group life insurance industry, in the 
event of a severe act of terrorism, is vulnerable to 
insolvency because high concentrations of covered 
employees work in the same locations, because pri-
mary group life insurers do not exclude terrorism 
risks while most catastrophic reinsurance does ex-
clude such risks, and because a large-scale loss of 
life would fall outside of actuarial expectations of 
death; and’’; and 
(2) in subsection (b)(1), by inserting ‘‘and 
group life insurance’’ after ‘‘property and casualty 
insurance’’. 
(b) DEFINITIONS.—Section 102 of the Terrorism 
Risk Insurance Act of 2002 (15 U.S.C. 6701 note), as 
amended by the preceding provisions of this Act, is further 
amended— 
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(1) in paragraph (1)(B)(ii), by inserting ‘‘and 
group life insurance’’ before ‘‘losses’’; 
(2) in paragraph (5), in the matter preceding 
subparagraph (A)— 
(A) by inserting ‘‘, or group life insurance 
to the extent of the amount at risk,’’ after 
‘‘property and casualty insurance’’; 
(B) by inserting a comma after ‘‘insurer’’; 
and 
(C) by adding after and below subpara-
graph (B) the following: 
‘‘Such term shall not include any losses of an in-
surer resulting from coverage of any single certifi-
cate holder under any group life insurance coverages 
of the insurer to the extent such losses are not com-
pensated under the Program by reason of section 
103(e)(1)(D).’’; 
(3) in paragraph (6)— 
(A) in subparagraph (A)(i), by inserting ‘‘, 
or group life insurance,’’ after ‘‘excess insur-
ance’’; and 
(B) in subparagraph (B), by inserting ‘‘or, 
in the case of group life insurance, that receives 
direct premiums,’’ after ‘‘insurance coverage,’’; 
(4) in paragraph (7)— 
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(A) in subparagraph (F)— 
(i) by striking the first comma and in-
serting ‘‘(i) with respect to property and 
casualty insurance,’’; and 
(ii) by inserting before the semicolon 
the following: ‘‘(ii) with respect to group 
life insurance, the value of an insurer’s 
amount at risk for a covered line of insur-
ance over the calendar year immediately 
preceding such Program Year, multiplied 
by 0.0351 percent’’; 
(B) in subparagraph (G)— 
(i) by inserting ‘‘with respect to prop-
erty and casualty insurance, and such por-
tion of the amounts at risk with respect to 
group life insurance,’’ after ‘‘such portion 
of the direct earned premiums’’; and 
(ii) by inserting ‘‘and amounts at 
risk’’ after ‘‘such direct earned premiums’’; 
(5) by redesignating paragraph (16) as para-
graph (18); and 
(6) by inserting after paragraph (15) the fol-
lowing new paragraphs: 
‘‘(16) GROUP
LIFE
INSURANCE.—The term 
‘group life insurance’ means an insurance contract 
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