110TH CONGRESS 
1ST SESSION H. R. 2761 
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,
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 
Insurance Act of 2002 (15 U.S.C. 6701 note) is amended 
by striking ‘‘December 31, 2007’’ and inserting ‘‘Decem-
ber 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 
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 econ-
omy; 
‘‘(4) widespread financial market uncertainties 
have arisen following the terrorist attacks of Sep-
tember 11, 2001, including the absence of informa-
tion from which financial institutions can make sta-
tistically 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 
arising from terrorist events, or by radically esca-
lating premium coverage to compensate for risks of 
loss that are not readily predictable, could seriously
hamper ongoing and planned construction, property 
acquisition, 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 com-
pensation to insured parties for losses from acts of 
terrorism, contributing to the stabilization of the 
United States economy in a time of national crisis, 
and periodically assess the ability of the financial 
services industry to develop the systems, mecha-
nisms, products, and programs necessary to create a 
viable financial services market for private terrorism 
risk insurance that will lessen the financial partici-
pation 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; 
‘‘(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 
providing for and preserving national economic secu-
rity calls for a strong Federal role in ensuring finan-
cial compensation and economic recovery in the 
event of such an attack; 
‘‘(9) a report issued by the Government Ac-
countability Office in September 2006 concluded 
that ‘any purely market-driven expansion of cov-
erage’ for NBCR terrorism risk is ‘highly unlikely in 
the foreseeable future’, and the September 2006 re-
port from the President’s Working Group on Finan-
cial Markets concluded that reinsurance for NBCR 
terrorist events is virtually unavailable and that 
‘[g]iven the general reluctance of insurance compa-
nies to provide coverage for these types of risks, 
there may be little potential for future market devel-
opment’; 
‘‘(10) group life insurance companies are im-
portant financial institutions whose products make 
life insurance coverage affordable for millions of 
Americans and often serve as their only life insur-
ance benefit; 
‘‘(11) 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 conventional 
and NBCR terrorism risks while most catastrophic 
reinsurance does exclude such terrorism risks, and 
because a large-scale loss of life would fall outside 
of actuarial expectations of death; and 
‘‘(12) the United States Government should 
provide temporary financial compensation to insured 
parties, contributing to the stabilization of the 
United States economy in a time of national crisis, 
while the financial services industry develops the sys-
tems, mechanisms, products, and programs nec-
essary to create a viable financial services market for 
private terrorism risk insurance. 
‘‘(b) PURPOSE.—The purpose of this title is to estab-
lish a temporary Federal program that provides for a 
transparent system of shared public and private com-
pensation for insured losses resulting from acts of ter-
rorism, in order to— 
‘‘(1) protect consumers by addressing market 
disruptions and ensure the continued widespread 
availability and affordability of property and cas-
ualty insurance and group life insurance for all types 
of terrorism risk, including conventional terrorism