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Risk Management Bulletin 2025-2
Affordable Housing Insurance Pilot Program (AHIP)
Attention Managing Agents and Owners:
The Affordable Housing Insurance Pilot (AHIP) program has been approved to provide financial assistance in the form of partial reimbursements for insurance premiums. This pilot program is for projects impacted by unexpected significant insurance premium increases not caused by the negligence or neglect of the project’s owner or management.
Applicants
An applicant entity must meet the definitions set forth by P.L. 2024, c.4, which means that the organization must be a corporation, partnership, or other organization in receipt of an allocation from the federal Low-Income Housing Tax Credit (LIHTC) program. The applicant entity must not be in default or noncompliant on any projects financed by the Agency or within the Agency’s oversight.
AHIP does not provide an insurance product or assume any financial risk on the part of the New Jersey Housing and Mortgage Finance Agency (NJHMFA/Agency). All responsibilities of the insured – deductibles, rate share changes, etc. – remain exclusively with the project. The final decisions regarding selection of the insurance carriers and insurance coverages are the sole responsibility of the project.
Please note that you will be required to pay a non-refundable application fee of $1,000 for each application submitted.
Applications are available from the Agency’s website.
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