Terrorism Risk Insurance Program Reauthorization Act of 2007
PL 110-160 (H.R.2761), enacted 12/26/2007

121 STAT. 1839 
PUBLIC LAW 110–160—DEC. 26, 2007 
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 Ter-
rorism 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 Pro-
gram 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 Insur-
ance 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 Insur-
ance 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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121 STAT. 1841 
PUBLIC LAW 110–160—DEC. 26, 2007 
(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 Insur-
ance 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 pre-
miums 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 manda-
tory 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 require-
ments 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 cov-
erage 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 enact-
ment of the Terrorism Risk Insurance Program Reauthorization 
Act of 2007, the Comptroller General shall submit to the Com-
mittee on Banking, Housing, and Urban Affairs of the Senate 
and the Committee on Financial Services of the House of Rep-
resentatives 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 afford-
ability of insurance for nuclear, biological, chemical, or radio-
logical 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 INSUR-
ANCE 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 para-
graph (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 Reauthor-
ization 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 Represent-
atives.’’. 
(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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121 STAT. 1843 
PUBLIC LAW 110–160—DEC. 26, 2007 
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. 
(2) in paragraph (2)— 
(A) by inserting ‘‘and thereafter in 2010 and 2013,’’ 
after ‘‘2006,’’; and 
(B) by striking ‘‘subsection (a)’’ and inserting ‘‘para-
graph (1)’’. 
Approved December 26, 2007. 
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