COVERAGES FOR
Affordable Housing Providers
Affordable Housing Providers
Designed specifically for tax-credit partnerships, non-profit housing organizations, and housing authorities converting to non-governmental funding. AHRP delivers low-cost, customized insurance coverage solutions at competitive rates. Let our loss control and risk-transfer experts work to solve unique issues that may confront the affordable housing community.
Who can join?
Housing authorities, non-profit entities providing affordable housing, and partnerships or LLC with affiliation to a housing authority or non-profit entity.
Primary Coverages Offered
Property
Protection against risks to property caused by the perils of fire, theft, or weather.
Liability
Protection for property owners resulting from negligent or inappropriate actions.
Tenant Discrimination
Protection for housing providers facing alleged discrimination to tenants and the ADA.
Benefits of participating in AHRP
Policyholder-Focused and Responsive
The Board of Directors consists of Executive Directors who understand how their decisions will affect members.
Cost Effective
AHRP is not required to file with any of the state insurance departments and pay filing fees. Additionally, the reinsurance purchasing is group-based, which reduces the costs of coverage. Another benefit is the wide footprint of our pool’s risk: 432,000 square miles. AHRP has no profit load and no commissions paid. All this controls the costs of providing specific coverage for policy purchasers.
Long Term Rate Stability
AHRP spreads the cost of risk among the policy holders, thus stabilizing costs. AHRP has significant financial redundancies (surplus) that can be used to absorb fluctuations in market pressures or adverse claims experience.
Risk Control, Training, Claims Administration
AHRP offers a wide array of services and aggressive claims resolution. The claims philosophy at AHRP is to pay claims that are justified and fight those claims that are not.
Tailored Coverage
AHRP utilizes a manuscripted coverage agreement, which simply means that the Board of Directors may control what is and what is not covered. This provides unparalleled flexibility to quickly adapt to changing conditions. Any coverage adjustments do not need to be validated by state insurance officials. The coverages are designed to encompass day to day operational risks encountered by the policy holders.
Non-Assessable
In the event of the dissolution of the pool, the pool cannot assess members for future liabilities. Many programs that experience bad claims assess their members for the shortfall of funds needed to pay the claims. These assessments can sometimes be decades after the claims have occurred and many times assessments are levied against former members that no longer participate in the pool.
Affiliated Entities
HARRP, AHRP, and ORWACA Agency Insurance Services, LLC provide access to a full range of insurance products and services for affordable housing providers across the Western states.
Are there additional services available to affordable housing providers?
Absolutely. Our risk control services ease the complexities facing the affordable housing community. AHRP is more than competitive coverage. It’s also experience in tailoring the most comprehensive resources for this market. Don’t see something you need? Let us know. We are always here to help.
What makes these services valuable?
- Peer-led governance
- Stable rates
- 125% replacement cost coverage
- No association fees
What makes these services different?
- $2,000,000 standard limit
- $150,000 tenant discrimination
- Property manager coverage
Supplemental Coverage options include, but are not limited to:
- Service providers in housing authority buildings
- Directors and officers insurance for independent nonprofit Boards related to housing
- Professional liability; Errors and omissions (E&O)
- Flood and earthquake for any building
- Difference in conditions (DIC)
- Employment practices liability
- Builder’s risk
- Bonding / surety
- Bid and performance
- Miscellaneous bonds
- Fundraising or special event policies
- Lead-based paint professional liability
- Tenant discrimination
- Boiler and machinery
- Mechanical breakdown
- Underground storage tank liability
- Other pollution-related coverage
Contact us to discuss supplemental coverages options for your existing or new policy:
