The Terrorism Risk Insurance Act (TRIA) (, ) is a United States federal law signed into law by President George W. Bush on November 26, 2002. The Act created a federal "backstop" for insurance claims related to acts of terrorism. The Act "provides for a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism." The Act was originally set to expire December 31, 2005, was extended for two years in December 2005, and was extended again on December 26, 2007. The Terrorism Risk Insurance Program Reauthorization Act expired on December 31, 2014. On January 7, 2015 the House of Representatives voted 416-5 to approve the Terrorism Risk Insurance Program Reauthorization Act of 2015, (, ) extending the TRIA through December 31, 2020. The Senate approved the extension the day after by a vote of 93-4. On January 12, 2015, President Barack Obama signed the extension into law. On December 17, 2019 the House of Representatives voted 297-120 to approve the Further Consolidated Appropriations Act, 2020 (, ) which included the Terrorism Risk Insurance Program Reauthorization Act of 2019 extending the TRIA through December 31, 2027. The Senate approved the extension on December 19, 2019 by a vote of 71-23. The following day, President Donald Trump signed the bill into law. History Before the September 11 attacks, business insurers generally neither charged for nor specifically excluded terrorism coverage. The scope of the 9/11 attacks and the resulting $40 billion estimated insured loss changed perceptions dramatically. It was the worst terrorist attack on record for both property and fatalities and the worst international attack on American soil since the Japanese surprise attack on Pearl Harbor, as nearly 3,000 people lost their lives in New York City, Washington, D.C., and Stonycreek Township near Shanksville, Pennsylvania. Much of the financial cost from the 9/11 attacks fell on reinsurers (that further spread the risk assumed by primary insurers). Unable to accurately model or price terrorism exposures, reinsurers largely withdrew from the market for terrorism coverage. Without reinsurance, primary insurers were then compelled to exclude terrorism. Most state insurance regulators approved terrorism exclusions for use by primary insurers. Many businesses were not able to purchase insurance protection against future terrorist attacks. This situation was a serious threat to industries where lenders and investors required terrorism protection for their investments. Real estate, transportation, construction, energy, and utility sectors of the