New York City Housing Authority Agenda Regular Meeting 2026-06-24
Somers Re to Provide Excess Liability Capacity
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Description
NYCHA intends to include Somers Re Limited among the carriers providing $100 million in excess General Liability and Automobile Liability coverage from August 1, 2026 through July 31, 2027. The shared premium for the multi-carrier program is about $7.23 million and includes terrorism coverage.
Contract Details
Contract Amount
$7,228,146.00 (total premium for layered program)
Vendor
SOMERS RE LIMITED
Agency
NYC Housing Authority (NYCHA), NY
Contract Type
INSURANCE
Document Date
June 24, 2026
Contract Term
August 1, 2026 – July 31, 2027
Renewal Date
2027-07-31
Renewal Info
One-year policy term; any renewal or extension after July 31, 2027 requires further Board approval and placement.
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