Housing organizations often take on projects or face new conditions that may not be fully addressed by their existing insurance program. Construction, lender requirements, regional exposures, or specialized contractual obligations can create questions about what coverage is needed and where to secure it. When that happens, having a partner who understands public and affordable housing and can help navigate alternative options can make all the difference.
Below are three recent stories that highlight how our team has helped housing organizations secure alternative market coverage and move forward with confidence.
Builder's risk coverage
Toai Nguyen, account executive
When an organization began planning a major rehabilitation and new construction effort supported by tax credits and multiple lenders, one of the first questions was how to properly protect the project while work was underway. Builder's risk insurance is often required for rehabilitation and new construction projects because it typically protects the structure, materials, and certain project-related costs. Many lenders require this coverage before construction begins to help safeguard the project during the build phase.
Rather than relying solely on the contractor’s master policy, the organization wanted clarity around limits, deductibles, and lender compliance. Nguyen stepped in to explore a standalone builder's risk solution that would give the organization more visibility and control. He coordinated with lenders, worked with business partners to structure appropriate coverage, and maintained communication so the insurance details did not delay the broader project.
Because Nguyen kept communication moving between the lender and the organization, they were able to stay focused on construction planning and other responsibilities. The insurance component progressed steadily without requiring constant oversight from their team.
When reflecting on the placement, Nguyen shared:
“Builder's risk placement for tax credit projects is often more involved than organizations expect. It can take months of back-and-forth just to secure a quote, and lender requirements often introduce additional revisions along the way. By placing the coverage on their behalf, we help give the organization more control and transparency. They know what they are paying for, how the limits are structured, and how everything aligns with lender requirements. We guide them through each stage so they can move forward with confidence.”
We're currently developing a visual timeline designed specifically for builder's risk coverage tied to rehabilitation and new construction projects. This upcoming resource will outline the key stages, common lender checkpoints, and what organizations can expect along the way. If you are planning a rehab or new build and would like more information, reach out to your account executive or be on the lookout for this new resource coming soon.
Performance bond placement
Justin Gonzales, senior account executive
An organization undertaking a significant project required a performance bond to meet contractual and financial obligations. A performance bond provides lenders or project partners with financial assurance that the work will be completed in accordance with the agreed terms. In many construction and rehabilitation projects, this type of bond is a condition of funding or contract approval. Although this type of coverage is not part of HAI Group’s core offerings, the organization needed guidance on securing the bond and keeping the project moving.
As Gonzales put it, “We didn’t have a solution, but we used our network to find one.”
Gonzales leveraged HAI Group's business partner relationships to identify a viable option, navigated the documentation requirements, and helped the organization understand what was needed at each step. By staying engaged throughout the process, Justin ensured the bond was structured in a way that supported the organization’s timeline and project goals rather than becoming an obstacle.
Gonzales explained what made this placement stand out:
“It shows that our role isn’t just to provide what we already offer: it’s to help find solutions. Even when something falls outside our standard programs, we use our relationships and knowledge of the industry to help organizations get where they need to go.”
Wind and hail coverage
Adam Puello, senior account executive
An organization with properties in a high-wind-exposure region needed wind and hail coverage that aligned with lender requirements. Wind and hail coverage is often necessary for housing organizations located in coastal or storm-prone areas where standard property policies may limit or exclude this exposure. As its portfolio expanded, so did the complexity of meeting specific deductible and coverage conditions across multiple locations.
Puello worked closely with underwriting, business partners, the organization, and the lender to coordinate a solution. When lender requirements introduced the need for an additional deductible buy-down at a specific location, he helped evaluate options, communicate next steps, and ensure the additional layer of coverage fit within the organization’s overall insurance structure.
Throughout the process, Puello remained the central point of contact, translating lender requests, clarifying policy details, and helping the organization understand how each decision supported compliance and long-term protection.
From Puello's perspective, what made this placement meaningful was:
“It’s part educational and part coordination. We make sure everyone understands the process, what the lender is asking for, and how the coverage fits within the organization’s portfolio. When everyone is on the same page, there’s more confidence in moving forward.”
Alternative market coverages we can help support
In addition to the examples above, HAI Group can help organizations explore alternative market solutions for a range of exposures, including:
- Cyber liability placements
- Standalone earthquake coverage
- Terrorism coverage
- Active shooter coverage
- Ordinance or law enhancements
- Flood coverage
- Directors and officers liability
Our list of supported coverages continues to grow as we expand our business partner relationships and identify new solutions. For additional information or coverage options, reach out to your account executive.
While each placement is unique, alternative market solutions typically begin with a conversation. From there, your account executive can evaluate the exposure, determine whether an alternative placement may be appropriate, coordinate with business partners as needed, and guide you through documentation and lender alignment until coverage is in place.
Let’s explore your options
If you are planning a project, responding to a lender requirement, or exploring coverage for a specific exposure, contact your account executive. We are here to help you evaluate your options and find solutions that support your organization’s goals.
Have a project on the horizon or a coverage question you are unsure about? Connect with your account executive to start the conversation.
