The Rising Leader’s Network hosted its second Summer Series of the year on one of the most pressing issues facing affordable housing today: the rising cost of premiums for property and liability insurance. The panel was moderated by RLN board member Robert Poole, Project Manager at Bronx Pro Group and included Susan Camerata, Principal and Chief Financial Officer at Wavecrest Management, Sean Capperis, VP of Policy and Analytics, NYC Housing Development Corporation, James Lloyd, Director of Policy, New York State Association for Affordable Housing and Ken Schreiber, President of Commercial Lines, HUB International.
Panelists discussed some of the factors driving up premiums across the country and the globe and shared how they’re seeing it impact the affordable housing industry from development to management. They reflected on how these higher costs for less coverage and in some cases the outright refusal to insure housing that serves low-income renters is ultimately a fair housing issue and reviewed potential solutions including legislation and a self insurance model.