Property insurance costs are surging, driven by more frequent natural disasters, aging infrastructure and fewer insurers willing to cover affordable housing in high-risk areas. For example, according to a recent report by Enterprise, affordable housing insurance costs in New York rose 110% since 2017, fueling a 40% increase in overall operating expenses. These rising premiums strain already tight budgets, threatening the sustainability of affordable housing.
Crafting national solutions is difficult due to fragmented, state-level insurance regulation. But this is a priority for the affordable housing community—we need to share learnings and explore solutions.
Join the Cooperative Development Foundation (CDF)’s Affordable Housing Initiative on Thursday, November 20 from 3-4:30pm EST for a webinar that will cover:
- Understanding the Insurance Market: How it works, why it’s regulated by states, and what’s driving the volatility.
- Solutions for Shared Equity Housing: What developers and residents in shared equity housing models can do to mitigate risk and manage costs.
- Policy and National Solutions: Ideas that could help stabilize the market.
If you’re involved in affordable housing development, policy or community organizing, this webinar will offer valuable insights and strategies.
Our speakers include:
- Douglas Heller, Director of Insurance, Consumer Federation of America
- James Fenniman, Area Executive Vice President and Senior Director, Affordable Housing Practice, Gallagher
- Moira Birss, Senior Fellow, Climate and Community Institute