Reports & Deliverables · Board Report
What the board needs this cycle
Coverage posture & open items, and change since last renewal — compiled from this hub’s book. Choose the whole portfolio or one development, then Detailed or Quick update.
Version
Workspace summary compiled from this firm’s book. It is not a legal opinion and not a recommendation to bind, retain, or close. Licensed advisors and the policy control.
Northbank Housing Partners
Durham, NC · Master renewal October 3, 2026
Entire portfolio: $91.9M TIV, 396 units, in-force premium $369,000 (+1% same-store rate).
Detailed · Entire portfolio
Insured TIV How calculated Sum of TIV on every location in this scope — dwellings and support sites. Matches the 2026 premium-year TIV. Program TIVs are the same dollars allocated by placement, not a second total. Board Report uses this same number.How calculated
$91.9M
Entire portfolio
Locations How calculated 6 sites on the book.How calculated
6
6 developments
In-force premium How calculated Premium on lines with status bound, master, or project. Quoted and gap premiums are excluded.How calculated
$369,000
Indicated premium How calculated Premium recorded on quote or gap lines. It is not in-force and would not pay. Shown so the board can see the ask next to what is already bound.How calculated
$98,000
Quote and gap — not in force
Changes since last renewal
2025 → 2026 · +1% rate · TIV +$28.4M · premium +$160,000
Millwork builder’s risk in force. Permanent not in the composite. Occupied units do not include the vacant construction site.
CAT rate on River Park flood. Still no fleet.
Coverage posture & open items
Where the book records a line, where limits or deductibles sit against exposure, and which gaps are already flagged. Not a legal opinion. Licensed advisors and the policy control.
- Watch
No cyber line on this scope
This slice of the book does not include a Cyber and Privacy Liability record. Check the authority master.
- Watch
Property — permanent (quoted) · quote only
Millwork Lofts LP — conversion. $28.4M TIV. Quoted. Not in the in-force composite.
- RISK-RP-004Gap on the book
River Park Family: flood vs AE exposure
River Park Family sits in AE. The book does not show a structured flood placement for this site.
- RISK-ML-002Watch
Millwork Lofts builder’s risk: deductibles vs TIV
Property AOP $10K AOP wind 5% named storm named storm 5% on $28.4M program TIV. A 5% named-storm deductible is a large retained amount relative to a single AMP TIV — the board should know that number before a CAT event.
- Note
Ash Court LP project: deductibles vs TIV
Property AOP $10K AOP wind 2% named storm named storm 2% on $18.1M program TIV.
- Note
Elm Senior LP project: deductibles vs TIV
Property AOP $10K AOP wind 2% named storm named storm 2% on $16.6M program TIV.
- Note
River Park Family project: deductibles vs TIV
Property AOP $10K AOP wind 2% named storm named storm 2% on $14.2M program TIV.
- Note
Cottonwood Housing LP project: deductibles vs TIV
Property AOP $25K AOP wind 2% named storm named storm 2% on $9.8M program TIV.
- Note
NHP Scattered Sites LLC: deductibles vs TIV
Property AOP $5K AOP wind $5K wind / hail named storm N/A inland on $4.8M program TIV.
Coverage
| Line | Limit | Deductible / retention | Status |
|---|---|---|---|
Builder’s risk Millwork Lofts builder’s risk | $28.4M TIV | $10K AOP · 5% named storm | bound |
Property — permanent (quoted) Millwork Lofts builder’s risk | $28.4M TIV | $10K AOP · 2% named storm | quote |
General liability — construction partnership Millwork Lofts builder’s risk | $1M / $2M | $0 | bound |
Property — Ash Court LP Ash Court LP project | $18.1M TIV | $10K AOP · 2% named storm | project |
Property — Elm Senior LP Elm Senior LP project | $16.6M TIV | $10K AOP · 2% named storm | project |
Property — River Park Family LLC River Park Family project | $14.2M TIV + excess flood | $10K AOP · NFIP + excess | project |
Property — Cottonwood Housing LP Cottonwood Housing LP project | $9.8M TIV | $25K AOP · 2% named storm | project |
Property — NHP Scattered Sites LLC NHP Scattered Sites LLC | $4.8M TIV | $5K AOP | project |
Conversion posture
- Millwork LoftsIn conversion · 96 units · $28.4M
- Ash CourtPlaced LIHTC / operating · 72 units · $18.1M
- Elm Street SeniorPlaced LIHTC / operating · 80 units · $16.6M
- River Park FamilyPlaced LIHTC / operating · 64 units · $14.2M
- Cottonwood ApartmentsYear 15 · 60 units · $9.8M
- Pine Street DuplexesPlaced LIHTC / operating · 24 units · $4.8M
Losses
4 claims on this scope · $273,000 incurred · 2 open
March 18, 2026 · Millwork Lofts · $22,000
Theft — construction materials — Jobsite theft on builder’s risk. Construction partnership, not a PHA master.
January 22, 2025 · Elm Street Senior · $41,000
Freeze — Freeze at an unheated stair. Senior PBRA. No authority casualty line.
February 11, 2024 · Ash Court · $84,000
Water — supply line — Supply-line water in a garden building. Project property responded. LP named insured.
August 4, 2023 · River Park Family · $126,000
Wind / hail — Convective wind on the river corridor. Excess flood not triggered.