There are numerous risks associated with the general business aspects as well as the property-related aspects of affordable housing development, ownership, and management. The CFO is charged with managing these risks and directing decisions about the costs and benefits of insurance coverage. The complexities of insurance is likely beyond the financial knowledge of most CFO’s and requires accessing resources with specific expertise to assist in navigating the many decisions related to insurance coverage.
This short introduction summarizes the need for:
- High-level information about various insurance coverages for affordable housing developers and owners
- Advantages of using a third-party knowledgeable about the insurance realm
- Brief discussion of needs for an effective insurance and risk management strategy