New York State Homes and Community Renewal (HCR) announced that Urban Homesteading Assistance Board and Housing Partnership Network were selected to administer its Risk Reduction and Insurance Affordability pilot program, which will help non-profit housing providers reduce costs by joining insurance captives. The two groups will work directly with non-profit affordable housing providers across the state to assess the risk profile of their properties and assist them in joining insurance captives.
The $5 million Risk Reduction and Insurance Affordability pilot program was created as part of the FY 2026 Enacted Budget to assist non-profit affordable housing owners in joining insurance captives, giving them new tools to maintain affordability and keep costs down for tenants.
