Tax Credit Loss Insurance: For your affordable housing clients
Now you can protect your clients against the loss of tax credits! As seen in units magazine!
Watch and share this short video with prospective clients and get the Tax Credit Loss Insurance Information Sheet here.
Tax Credit Loss Insurance Information Sheet (PDF)
units Magazine Article Reprint (PDF)
Loss of tax credits are not covered under the standard definition of 'Business Income.'
This optional endorsement provides coverage* for the loss of:
• Low income housing tax credits or
• Recapture of historical rehabilitation tax credits.
*The loss must be due to a covered cause of loss.
This coverage broadens Business Income and Extra Expense:
Many apartment owners who operate low income housing or rehabilitated historic buildings also receive significant tax credits. If the units become uninhabitable, or if the building loses its historic
designation, the owner may not be able to claim the loss of these tax credits. This creates a
significant exposure to developers, owners, and investors of these properties.
Standard Business Income coverage settles losses before income taxes, creating a gap you can now fill for your client. This business income broadening endorsement can separate you from the competition.