Next LeadingAge National Call on Insurance Issues in Affordable Housing Scheduled for Oct. 3rd
Following a hearing of the U.S. Senate Committee on Banking, Housing, and Urban Affairs relating to “Perspectives on Challenges in the Property Insurance Market and the Impact on Consumers,” LeadingAge National has announced that it will host its next members-only call to discuss property insurance challenges in affordable senior housing on Tues., Oct. 3rd at 1 p.m.
The Senate hearing confirmed what many LeadingAge members are already experiencing: increasingly restricted coverage, skyrocketing rates and deductibles, and the exit of some insurers from entire states or regions is having a progressively worsening impact on the rental housing market and the older adults living in affordable multifamily housing. For example, LeadingAge member Michelle Norris testified on behalf of National Church Residences that property insurance liability for the organization’s properties has increased by over 400 percent in the last six years.
LeadingAge National has been working with the U.S. Department of Housing and Urban Development (HUD) to secure increased funding for multifamily housing properties to help offset costs like those reported by Ms. Norris and continues to explore other avenues of relief for LeadingAge members struggling to secure appropriate and affordable property insurance coverage. Members-only calls like the one planned for Oct. 3rd provide the opportunity for providers to share their experiences, hear from others operating in the field, and learn more about the ongoing advocacy to address insurance issues in affordable senior housing.
Contact: Annalyse Komoroske Denio, firstname.lastname@example.org, 518-867-8866