HI SCR58

Urges the U.S. Congress and President to reauthorize the Terrorism Risk Insurance Program (TRIPRA), which provides federal reinsurance to insurers after terrorism-related losses exceed specified thresholds.

Requests expansion of the reauthorized program to include coverage for natural disaster losses, particularly those affecting military bases and surrounding infrastructure.

Notes that the September 11, 2001 terrorist attacks resulted in approximately $32.5 billion in insured losses and caused insurers to exclude terrorism coverage from most commercial policies, creating economic disruption.

Explains that under current TRIPRA, the federal government covers 85% of insurer losses after the industry-wide loss threshold of $100 million is exceeded and individual insurers reach 20% of previous year earned premiums, with an aggregate federal cap of $100 billion.

Directs transmission of the concurrent resolution to the President, Congress leadership, and Hawaii's congressional delegation.