Insurance Procurement and Risk Management

The contract requires the procurement and ongoing maintenance of HUD-compliant insurance policies for multifamily housing units, specifically covering property, general liability, and flood damage under the National Flood Insurance Program. The insurance must meet all federal standards and remain active throughout the term of the agreement to ensure compliance and financial protection for the housing units under the oversight of the Massachusetts Public Housing agency. Coverage must be continuously monitored and renewed to prevent lapses that could jeopardize funding or regulatory standing. The contract is designated as a subcontract under NAICS code 524210, with a response deadline of June 1, 2029, and was posted on June 5, 2026. Performance is required in Boston, Massachusetts, with the specific zip code 02114. The agreement is managed by OCDDEPT05 - Public Housing and is intended to support risk management efforts for federally assisted multifamily housing properties. All insurance policies must be secured through approved carriers and documented to satisfy HUD and federal audit requirements, ensuring long-term stability and compliance for the housing portfolio.