General Liability Insurance for CDFIs?

[Community Development Banking List]

Original message from: jerry@slochtf.org

We are a fairly young CDFI that provides loans for affordable housing
projects in California. We have been growing fairly rapidly, and currently
have nearly $5 million in loans receivable and $2.7 million in net assets.



Sequoia Insurance Company is tripling our general liability premium from a
little over $900 per year to $2,840! What do other similar CDFIs pay for
general liability insurance? If it is substantially less than our new
quote, please tell me who insures you?



Thanks!



Jerry



cid:image001.jpg@01C658B9.F1E04A40

Gerald L. "Jerry" Rioux, Executive Director

San Luis Obispo County Housing Trust Fund

71 Zaca Lane, Suite 130, San Luis Obispo, CA 93401

phone: (805) 543-5970; fax: (805) 543-5972

e-mail: <mailto:jerry@slochtf.org> jerry@slochtf.org; website:
<http://www.slochtf.org/> ('http://www.slochtf.org/>') www.slochtf.org

[Community Development Banking List]

Original message from: sfairfield@sbcglobal.net

Our premiums have been level. We've had good results with Gales Creek Insurance Services in Portland (www.galescreek.com), which has a focus on nonprofit coverages. Contact Rusty Poehner at 503-227-0491 ext. 227 or at rusty@galescreek.com.

Stephan Fairfield
Covenant Community Capital
Houston, TX


On Oct 12, 2011, at 5:59 PM, Jerry Rioux wrote:

We are a fairly young CDFI that provides loans for affordable housing projects in California. We have been growing fairly rapidly, and currently have nearly $5 million in loans receivable and $2.7 million in net assets.

Sequoia Insurance Company is tripling our general liability premium from a little over $900 per year to $2,840! What do other similar CDFIs pay for general liability insurance? If it is substantially less than our new quote, please tell me who insures you?

Thanks!

Jerry

<image001.jpg>
Gerald L. "Jerry" Rioux, Executive Director
San Luis Obispo County Housing Trust Fund
71 Zaca Lane, Suite 130, San Luis Obispo, CA 93401
phone: (805) 543-5970; fax: (805) 543-5972
e-mail: jerry@slochtf.org; website: www.slochtf.org

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