Federal legislation enacted in 2002 to guarantee the availability of insurance coverage against acts of international terrorism. Under the Act, commercial insurers are required to offer insurance coverage against such terrorist incidents and are reimbursed by the federal government for paid claims subject to deductible and retention amounts. This legislation was modified and extended by the Terrorism Risk Insurance Extension Act (TRIEA) in 2005.

Passed in December 2007, TRIPRA reauthorized through 2014 the federal terrorism insurance backstop originally established under the Terrorism Risk Insurance Act (TRIA) of 2002 and extended under the Terrorism Risk Insurance Extension Act of 2005, with some changes. The most notable change was the removal of the references to foreign persons or entities, thereby requiring insurers to make coverage available for both foreign and domestic forms of terrorism.

Passed in January 2015, after a delay when the outgoing Congress failed to reauthorize the Terrorism Risk Insurance Act (TRIA) in the last days of the 2014 legislative session, TRIPRA of 2015 extended TRIA through December 31, 2020. It also made several changes to the reinsurance program, including reducing the federal share of insured terrorism losses incrementally through 2020, increasing the trigger threshold for federal involvement in insured terrorism losses incrementally through 2020, and increasing the mandatory recoupment of federal losses incrementally through 2020.