These New York Affordable Housing Developers Created Their Own Insurance Firm

Publication: Commercial Observer

According to a 2023 report by the National Leased Housing Association, the premiums for renewing 1 in 3 insurance policies for affordable housing providers in the U.S. grew by at least 25 percent last year.

While insurance premiums can generally be relied on for reasonable annual increases, recent massive jumps in price have made insurance a boondoggle for affordable housing owners and operators, who say that premium costs are damaging their ability to maintain their properties, much less plan new developments.

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