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A Growing Community: How Insurers Can Help HOAs Manage Their Expanding Risk Landscape

Nicole Reed, Vice President of Habitational Underwriting at Philadelphia Insurance Companies, shares about the rapidly expanding insurance market for homeowners' associations and the unique risks they face.

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Photo of a neighborhood run by a homeowner's association alongside a headshot of Nicole Reed, Vice President at Philadelphia Insurance Companies (PHLY).

Nearly one-third of the American housing market is maintained by an HOA with over 373,000 associations currently established across the country.

And the segment is still growing! An estimated 5,000 new associations form each year.

In an interview with Risk & Insurance, Nicole Reed, Vice President of Habitational Underwriting at Philadelphia Insurance Companies, shared more information about this growing market along with the top trending risks HOAs should consider when choosing their insurance coverage:

  1. Special events

  2. Pools (and other water features)

  3. Security

To learn more about why HOAs increasingly need to prepare for these risks, read the full article on the Risk & Insurance website.