Affordable housing developers are facing exponential increases in property insurance premiums, with some rates quadrupling.  A noteworthy statistic is that nearly one-third of affordable housing providers reported insurance premium increases of at least 25%, according to a survey by the National Leased Housing Association.  This is severely impacting development budgets and the ability to maintain or construct new housing, as these costs cannot be passed onto tenants.  Insurance cost growth is partly due to a rise in climate disasters, with 90% of U.S. counties experiencing federal disaster declarations between 2011 and 2021, leading to insurers losing money becoming more selective in policy writing.  States and organizations are seeking solutions, such as New York’s law preventing insurance premium increases based on income restrictions, and the Housing Partnership Network’s insurance initiative for nonprofit developers.