Affordable Housing and Economic Development

Affordable Housing and Economic Development Challenges:

Housing matters to economic development, and there are significant challenges that you face as you continue to implement a more integrated response to affordable housing in the community. Contractual complexity and risk transfer can demand complicated insurance programs that are often difficult to obtain. A clear delineation of responsibilities between project parties is critical in order to share the risk. Additionally, existing captives and risk retention pools place restrictions on coverages needed and traditionally afforded to apartment projects.

Chapman's Solutions:

Chapman's Affordable Housing and Economic Development Program is designed to meet your organization's insurance needs:

 

  • Contract Experience: Chapman’s experts will review your leases and contracts and recommend insurance terms to best protect your organization, whether your role is:
    • Nonprofit social service provider placing your clients into affordable housing
    • Managing general partner of an LLC/Owner accessing tax credits (HUD approved)
    • Property manager for affordable housing
    • Provider of supportive services to the families/seniors residing in affordable housing
    • Developer of affordable housing
  • Chapman has secured Course of Construction, Builders' Risk, and Owners/Contractors Protective Insurance hundreds of times in this rapidly growing industry. Lenders’ insurance requirements are stiff, and Chapman works with the top insurers who can meet the standards of even the toughest lender. Most carriers are A or A+ rated, admitted carriers, or higher.  
  • Same-Day Certificate Processing: Internal procedures and staffing allow us to process certificates within a maximum period of 24 hours
  • Market Relationships: As the leading broker in the U.S., we work with top A and A+ rated, admitted insurers to obtain the best possible terms. Available coverages include: Blanket Limits on Property Insurance, Builders Risk, Business Income/Extra Expense/Loss of Rents, Directors and Officers Liability, Earthquake, Fidelity, General Liability and Tenant Discrimination and more.