Dora Gallo expressed concern as her nonprofit, A Community of Friends, saw a staggering 200% rise in insurance premiums to $3.8 million, which jeopardizes their ability to offer housing for those exiting homelessness.
Justine Marcus highlighted the alarming trend of rising insurance costs and its implications for California's efforts to house its 181,000 homeless residents, emphasizing the urgency of addressing insurance barriers to support housing stability.
Industry experts noted that the growing insurance premiums are attributed to carriers' hesitance to insure properties viewed as riskier due to their locations and the populations they serve.
The new law set to take effect aims to improve housing stability for tenants facing eviction, presenting a potential boost for both housing providers and vulnerable residents.
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