Terrorism Risk Insurance Program Reauthorization Act of 2007

[AI summary unavailable — showing source text] Terrorism Risk Insurance Revision and Extension Act of 2007 - Amends the Terrorism Risk Insurance Act of 2002 to extend the Terrorism Insurance Program through calendar 2017. Revises requirements for: (1) insurer deductible; (2) insured loss shared compensation; (3) industry insured losses that trigger the program; (4) recoupment of the federal share; (5) certification prerequisites regarding an act of terrorism; (6) mandatory availability of program coverage; and (7) rate and form filings for coverage. Provides for coverage of group life insurance, including a policy surcharge for terrorism loss risk-spreading premiums. Revises requirements for: (1) insurer copayment and federal share of compensation; (2) post-event reset for previously impacted areas; and (3) mandatory availability of life insurance that does not preclude future lawful travel. Adds coverage for workers' compensation and property and casualty insurance to the topics of a mandatory analysis of market conditions for terrorism risk insurance by the President's Working Group on Financial Markets. Establishes the Commission on Terrorism Risk Insurance.…