HI HR40

Urges Congress and the President to reauthorize the Terrorism Risk Insurance Program (TRIPRA), which provides federal reinsurance for insurers after industry-wide terrorism losses exceed $100,000,000.

Requests expansion of TRIPRA to include coverage for natural disasters affecting military bases and their surrounding commercial and residential infrastructure.

Notes that the September 11, 2001 terrorist attack resulted in approximately $32,500,000,000 in insured losses and caused insurers to exclude terrorism coverage from virtually all commercial policies.

Highlights that TRIPRA requires the federal government to recoup 100% of benefits through policyholder surcharges if aggregate insured losses are less than $27,500,000,000 and has a $100,000,000,000 annual aggregate loss cap.

Directs transmission of certified copies to the President, Speaker of the House, Senate Majority Leader, and Hawaii's congressional delegation.