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Housing Association Property Mutual

Series: Social Housing ; 14(6) June 2002, 1(1)Publication details: 2002Subject(s): Summary: The housing insurance club, Housing Association Property Mutual is closing its doors to new business. It was founded in 1989 to provide latent defective insurance on HA properties. Highest demand was in 1993 when member took out insurance on 15 000 homes but has since declined to only 2000 properties in 2001. It is not certain yet whether HAPM has enough funds to meet all claims on existing policies and other commitments from its reserves.

The housing insurance club, Housing Association Property Mutual is closing its doors to new business. It was founded in 1989 to provide latent defective insurance on HA properties. Highest demand was in 1993 when member took out insurance on 15 000 homes but has since declined to only 2000 properties in 2001. It is not certain yet whether HAPM has enough funds to meet all claims on existing policies and other commitments from its reserves.