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NYT: Rising insurance costs impinging on affordable development efforts nationwide

Archinect

Unlike market-rate apartment developers, those building multifamily projects financed by subsidies and tax credits do not have the ability to simply pass on those higher insurance costs to tenants, since they are limited by government guidelines as to how much rent they can collect.

Insurance 275
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Five architecture students receive the 2023 RIBA Wren Insurance Association Scholarship

Archinect

The Royal Institute of British Architects has picked its slate of winners for the 2023 RIBA Wren Insurance Association Scholarship competition. The scholarships, which this year total £37,500 ($47,600 USD), were awarded to current Part 2 students from around the UK.

Insurance 278
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Lloyd's of London is mulling an exit from Richard Rogers' award-winning headquarters building

Archinect

Lloyd's of London (SOLYD.UL) is considering whether to remain in its flagship City of London headquarters and may make a decision this year, the commercial insurance market said on Tuesday. The news comes just over a month after the death of its Pritzker-winning architect in London at the age of 88. Interior view of the Lloyd's building.

Insurance 363
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Burning down the house to make American homes disaster-proof

Archinect

Last year's devastating wildfires in California and Hawaii once again came into focus as part of a New York Times exposé on the Insurance Institute for Business & Home Safety (I.B.H.S.)-led led movement towards the “biggest overhaul of building standards in more than 30 years.”

Insurance 264
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Oliver Wainwright: better urban strategies must come from L.A.'s ashes

Archinect

Ironically, it might be the inability of the insurance industry to pay up that finally forces LA to change. [As] the former head of the federal emergency management agency, Craig Fugate, has said: “A house that gets destroyed is not an affordable home.” ” It’s not a sustainable one either.

Insurance 264
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Wildfires, Climate Change, and the Architecture of Resilience

SW Oregon Architect

Adding to the complexity, many homeowners in the affected areas recently lost their insurance coverage. State Farm, one of the largest insurers in California, canceled hundreds of homeowners' policies last summer in Pacific Palisades and other high-risk areas.

Insurance 232
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Getting To Know The Coverage of Homeowners Insurance

DesignRulz

Whether you have lived in your home for many years or you’re a first-time homebuyer, it is best to know what your homeowners insurance covers. In addition, having this knowledge can be an advantage in finding the home insurance coverage that best fits your needs as a homeowner. What is Homeowners Insurance?