Public and affordable housing organizations strive to fill vacancies as quickly as possible to fulfill community housing needs and avoid loss of rental income, but it's not always feasible. 

The words' vacant' and 'unoccupied' might seem like synonyms, but in the commercial insurance world, they have distinctly different meanings, especially regarding residential buildings.

With flooding now the top natural peril in the U.S., and research finding that 40 percent of the nation’s occupied rental stock is located in areas likely to experience a substantial annual loss due to natural disasters, one thing’s for sure: It is critical for affordable housing providers to be prepared. On the heels of their recent webinar, titled Flood Planning and Mitigation for Affordable Housing Organizations, the Public and Affordable Housing Research Corporation’s Lead Research Analyst Kelly McElwain, and HAI Group’s Lynn Crisci, assistant director of Product Development, along with Mary Ciccaglione, manager of Risk Control and Consulting, spoke with HAI Group’s Staci Canny to answer some of the webinar audiences’ top questions.

HAI Group remains in an excellent position to meet its insurance and financial obligations, according to an independent analysis by AM Best, a global credit rating agency.

The staff at Denver Housing Authority (DHA) weren't blind to the possibility of a cyberattack.

In fact, staff had taken steps in 2021 to address the organization's cybersecurity vulnerabilities, said Jim DiPaolo, DHA's deputy CFO. But in September 2021, disaster struck—DHA was completely locked out of the files and systems it relies on due to a ransomware attack. 

"We had a fairly good business continuity plan," DiPaolo said during a June 2022 interview with HAI Group. "We were backing up our systems, and felt that we had a fairly strong [cybersecurity] program that wasn't going to be open to this type of threat."

If you’re a policyholder at HAI Group, we want you to know that we have your back. We don’t disappear once your policy is issued. On the contrary, our goal as your insurance carrier is to establish a relationship with you and communicate regularly to ensure your organization is protected. 

The terms public housing and affordable housing are often confused, and understandably so, as both refer to rental housing established for eligible low-income families. But public housing and affordable housing are very different in terms of organization, management, and funding. 

A resident trips and falls on your sidewalk, which is in the process of being replaced. He injures his back and shoulder, racking up nearly $100,000 in medical bills. The resident then files a lawsuit, alleging the construction site was not properly marked or roped off. Who’s liable for the damages, you or your contractor?

In the U.S., there are three main types of insurance: personal insurance, which protects the things you own; life and health insurance, which protects you or your family personally in the event of illness or death; and commercial insurance, which protects you and anyone you invest with when running a business or creating a new product or service.