Affordable Housing Insurance Program RFEI

The New York City Economic Development Corporation, together with the NYC Department of Housing Preservation and Development and the NYC Housing Development Corporation, is seeking industry participants to design, structure, and operate an insurance program that will lower property and liability insurance costs for income‑restricted affordable and rent‑stabilized housing. Up to $100 million in city funding will be made available over three years to launch and sustain the program, with an expectation that the program become financially self‑sustaining and generate a return for the city. The solicitation is open to insurance brokers, carriers, reinsurers, TPAs, actuarial firms, CDFIs, and other entities capable of managing a large‑scale insurance vehicle. Submissions are due August 6, 2026. • Program design and administration for affordable‑housing insurance covering property and liability risks. • Eligibility limited to income‑restricted and rent‑stabilized NYC housing assets, many of which already have relationships with HPD and HDC. • Funding of up to $100 M from the city, with expectations for long‑term solvency, self‑sustainability, and potential financial return. • Open to a wide range of participants including brokers, carriers, reinsurers, TPAs, actuarial advisors, and community development financial institutions. • Mandatory M/WBE participation encouraged; an optional informational session on July 8, 2026 for prospective respondents.