Member Services for IIAG

Home » Big "I" Markets » Sheltering Tax Credits

Sheltering Tax Credits

RSS Member Services for IIAG

  • DRONES WEBINAR TAKES FLIGHT JUNE 22nd – Learn about insurance issues involving drones May 31, 2016
    Drones AKA Unmanned Aerial Vehicles Presented by John Eubank, CPCU, ARM and Bill Wilson, CPCU, ARM Wednesday, June 22, 2016 from 1:00 – 3:00 p.m. ET One of the fastest evolving insurance issues in recent years involves drones. From a non-issue to the presence of millions of hobby and commercial drones, this exposure has taken … Continue reading →
    amcelhannoniiag
  • New Resource Area Now Available in the Virtual University May 25, 2016
    Earlier this year, the Big I board approved development of a new area in the Big IVirtual University (VU) to provide members with information about finding, hiring and developing new talent for their agencies. This area is now live in the VU and will continue to expand as we curate more resources. We invite you … Continue reading →
    amcelhannoniiag
  • How to be A Superhero for Personal Lines Clients May 25, 2016
    Most of your personal lines clients don’t need you to be faster than a speeding bullet or to leap tall buildings in a single bound. However, they do need smart insurance protection, and there’s one area in which they are particularly vulnerable: JEWELRY. If you’re protecting your clients’ jewelry collections with their HO/renters insurance policies, … Contin […]
    amcelhannoniiag
  • Close More Sales with MiddleOak Coverage Checklists May 25, 2016
    Getting clients to think about comparing things other than coverage limits and price is difficult. Even when it seems like they are taking everything into account, you often are not sure that they even “get it.” Since making the intangible tangible is what we do all the time, we offer two checklists to help your … Continue reading →
    amcelhannoniiag
  • Turning Your Retirement Questions Into Answers May 12, 2016
    Having trouble deciding which retirement plan is right for you or your agency? Big “I” Retirement Services is here to help you choose which plan best meets your circumstances. We’ve worked with more than 1,000 agencies to help them achieve their retirement goals.   IIABA Support   With over 25 years in the retirement business, … Continue reading → […]
    amcelhannoniiag
  • 3 Ways to Compensate Personal Lines Producers May 6, 2016
    Contributed Article by Jacquelyn Connelly, Senior Editor of IA Magazine. If you’re like most independent agencies, you’ve got commercial lines producer compensation down to a science. But chances are you can’t say the same about personal lines. Al Diamond, president of Agency Consulting Group, Inc., works with myriad agencies on the issue of personal lines … […]
    amcelhannoniiag
  • How to Build a Relationship with an Online Buyer Through TrustedChoice.com April 19, 2016
    Category: Trusted Choice® ​ goo·gle – /’goog(Ə)l/ verb – google; 3rd person present: googles; past tense: googled; past participle: googled; gerund or present participle: googling search for information about (someone or something) on the Internet using the search engine Google. “I recently googled my 7th grade teacher and found his current e-mail address”   […]
    amcelhannoniiag
  • Big “I” Markets – An Inside Look at April 2015 NFIP Changes March 11, 2015
    By Cassie Masone – Selective Insurance Company, Vice President of Flood Operations Selective Flood Releases Bulletin on HFIAA Changes The tides are changing. Due to increasing catastrophic events and resultant rising expenses, Congress has passed numerous updates to help stabilize the National Flood Insurance Program over the last several years, including re […]
    amcelhannoniiag
  • Big “I” Markets – Webinars February 25, 2015
    Competing with Direct Sales & Captive Agency Insurers in Personal (and Commercial) Lines March 25, 2015; 1:00 to 4:00 p.m. Eastern Time $79 – Click here to register. Are you tired of all the insurance commercials that shout “Price! Price! Price!”? Are you sick of the silly claim that someone’s exposures to loss can be … Continue reading →
    amcelhannoniiag
  • Big “I” Markets – Hot and Cold HomeScanSM February 25, 2015
    The sound of water running all the time or a sudden increase in the water bill can indicate a plumbing leak. Signs of mold or mildew smell in an area that doesn’t get wet, spongy floors or walls, a sagging roof or cracked foundations can be plumbing or exterior water getting in where it’s not … Continue reading →
    amcelhannoniiag
January 2013
S M T W T F S
« Dec   Feb »
 12345
6789101112
13141516171819
20212223242526
2728293031  

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 124 other followers

For your affordable housing clients:
Low-Income Housing Tax Credit Insurance sets MiddleOak® apart

We want to share an excellent article with you that was recently published in units Magazine, a trade publication featuring news and newsmakers in the multifamily housing industry. This article, A Way to Protect Low Income Housing Tax Credits, was penned by MiddleOak’s national marketing manager, Bill Hall.

To summarize, the Low-Income Housing Tax Credit (LIHTC) program has allocated more than $7.5 billion in federal tax credits for low income housing. These tax credits have been applied to more than 1.76 million apartment homes. The “basis” for the calculation of tax credits is the value of the building and improvements. If something happens to the property that reduces the basis—the tax credits are reduced or eliminated.

Normally, loss of tax credits is not covered by insurance under the standard definition of business income. Now, an innovative optional endorsement covers loss of tax credits as part of the loss of income. This endorsement is available to property managers and owners who can find themselves caught in the middle when tax credits are lost because of a covered cause of loss such as a fire.

This is where you come in. The MiddleOak habitational program, which you can access through Big “I” Markets, offers this endorsement. It’s a key coverage feature that will help you stand out when submitting proposals for low-income housing developments.

Feel free to request an article reprint of this units magazine piece to use as part of your conversation with your clients. According Randy Phelps, Partner at HNI Risk Services, who is quoted in the linked article, “Very few developers know that the coverage is out there.”

Make your clients aware of this important coverage and be a cut above the others!

For more information on this product, log into www.bigimarkets.com and click on “Habitational” from the commercial products menu. The Habitational – Apartment program on Big “I” Markets can consider, among other occupancy classes, low-income housing accounts with 11 units or more located in GA.

Andrew McElhannon is the Member Services Coordinator for the Independent Insurance Agents of Georgia www.iiag.org, and can be contacted at: amcelhannon@iiag.org or b y phone at 770-458-0093, x.110, or 800-878-6487.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: