BUSINESSTHE CITY NYC
Search Begins for Operator of City-Backed Insurance With $100M in Public Funds
The Mamdani administration is seeking an operator for a city-backed insurance program aimed at reducing property and liability insurance costs for rent-stabilized buildings. The program, funded with $100 million over three years, targets a 20% premium reduction and plans to cover 20,000 apartments by 2027, expanding to 100,000 by 2030.
Mentioned
Related Signal
Adjacent reporting
- Op-ed | Mamdani administration releases an ambitious housing plan
- Dr. Hope Thompson of the Natural Resources Defense Council on rising homeowner’s insurance
- Mamdani wants more housing on public land. A map shows where NYC is building now — and why 'it's not a silver bullet.'
- Housing program to give eligible Chicagoans up to $70,000 toward down payment
- New city program aims to preserve supportive housing for homeless and vulnerable New Yorkers
- Eviction Right to Counsel program becomes permanent in Nashville