Affordable Housing

Captive Insurance for the Affordable Housing Industry Uncovering the strategic benefits of a unique approach to risk financing

As Affordable Housing organizations face their annual insurance renewals, many have been surprised at the level of premium increases they are experiencing.  Today’s challenging and volatile insurance market is having significant impacts across the industry and has led many forward-thinking industry leaders to consider alternative risk financing mechanisms, such as captives.  While our Affordable Housing Team has received increasing questions about captives, this isn’t just anecdotal. According to industry trends, interest in captive insurance in the U.S. has risen greatly in the first quarter of 2021.  So, if you aren’t already considering whether a captive might be a good fit for your organization, now may be a good time to begin the conversation.  Continue reading

Strategies to Increase COVID-19 Vaccination Rates in Senior Living Employee Populations

The business need – and population health need – of having larger percentages of vaccinated employees in the Senior Living industry is clear.  Scott’s Senior Living Practice recently hosted a webinar to provide a comprehensive overview of potential strategies to increase vaccination rates among employees of Senior Living organizations. Featuring speakers with a wide range of expertise, including medical, legal and risk perspectives, the webinar highlighted the need for vaccinated employees due to asymptomatic spread, addressed specific risk factors of the industry’s employee population and provided timely guidance for employers. Continue reading

EEOC Guidelines on COVID-19 Vaccines

On December 16, 2020, the Equal Employment Opportunity Commission (EEOC) issued its first direct guidance for employers regarding COVID-19 vaccines. The EEOC is responsible for enforcing federal laws against job discrimination and harassment.

As we stated in a previous blog post, employers can make the vaccine mandatory, subject to federally protected exceptions for disability and sincerely-held religious beliefs. The EEOC guidelines provided further explanations for employers regarding these exceptions, including documentation to support the request and how to manage a worker when an accommodation is not possible.  Continue reading

CDC Announces Shorter Quarantine Guidelines After a COVID-19 Exposure

Edit 12/4/20: Please note that the CDC update indicates that local public health authorities make the final decisions about how long quarantine should last in the communities they serve, based on local conditions and needs. The CDC recommends that you follow the recommendations of your local public health department if you need to quarantine.

During a recent media briefing, the Centers for Disease Control and Prevention (CDC) announced an update to quarantine guidelines, offering options for shorter quarantine periods.

The CDC’s updated guidance allows for the following quarantine periods for those who may have been exposed to COVID-19 but are without symptoms:

  • Ten-day quarantine period—An individual may end quarantine 10 days after exposure if the individual does not take a COVID-19 test.
  • Seven-day quarantine period—An individual may end quarantine seven days after exposure if the individual tests negative for COVID-19.

While offering these shorter alternatives, the CDC still recommends a 14-day quarantine as the safest option.   Continue reading

How Insurance Carriers Use Crime Scores to Assess Risk in the Affordable Housing Industry

Many insurance carriers use third-party crime scores to evaluate their exposure to criminal risk when underwriting general liability insurance policies. At worst, a high crime score may preclude the owner of a multifamily housing complex from obtaining insurance coverage, and at best, a high crime score may result in higher premium costs. These underwriting practices are especially impactful to the affordable housing community because affordable housing may be in areas with higher crime scores when compared with traditional multifamily properties. Thus, affordable housing providers are highly likely to experience a loss of coverage or relatively high insurance premiums.  Continue reading