Senate Bill 174 Would Undermine Key Oregon Policy Initiatives
Oregon cannot afford this, especially right now.
Our leaders are working to address our state’s challenges when it comes to affordable housing, climate change, and access to childcare.
Keeping insurance affordable is critical if we are going to make progress on those pressing issues.
Insurance rates have a big impact on the finances of multifamily, affordable housing.
“After property maintenance, insurance costs are one of the leading ongoing expenses for the multifamily owner and operator.”
“As a housing provider, insurance has been top of mind and challenging to say the least. The apartments we own have seen coverage cancelled in recent years as insurers are pulling out of the market. This is the worst time to be driving up the cost of insurance for housing providers." Janos Bodnar, Portland multifamily housing operator
Insurance costs directly impact childcare providers, particularly those in the preschool promise program.
“Certified family childcare providers were the most likely business type to be concerned about the cancellation of their current policy, with 28 percent indicating this concern. Open comments highlighted challenges in finding affordable policies, with one provider noting, ‘My insurance costs are high because we are a Preschool Promise program and are required to carry high levels of insurance.’”
— First Children’s Finance, Building A Stronger Oregon, January 2025