Chung Quoted on Rising Insurance Costs for Housing Operators
TheRealDeal
Partner Huhnsik Chung was quoted on how rising housing insurance costs are disproportionately stacking up for affordable housing operators in New York City.
Huhnsik said that many types of insurance, including liability insurance, are becoming more expensive nationwide.
“You have a lot of lawsuits being filed because the cost of entry to the courthouse is very low in the US,” Huhnsik said. “Insurance pricing is ultimately a reflection of how much it costs to offer that insurance.”
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