Is your Association Covered?
Lawsuits against Board of Directors happen everyday. Is your association covered? If you received a demand letter, do you know what to do with it?
Non-Monetary Lawsuits are the most common suits against an HOA Board of Directors. This is when you are being sued, not for money, but for action. The picture above with the purple townhome is surprisingly common. This is when the Architectural Review Committee has denied a request to paint the home purple. The homeowner is not happy, so they sue the Board to allow them to paint the home purple.
These lawsuits must be defended. Always consult an Attorney. Do you have an Endorsed D&O on your package policy? Great chance you have Non-Monetary Lawsuit excluded (not Covered Lawsuit).
You can receive a FREE Checklist of items to review for your Association when you complete the short CHECKLIST FORM (right).
Do you have Adequate Directors and Officers Insurance?
One of the most important insurance policies in any homeowner association’s financial portfolio is also one of the most overlooked and misunderstood.
We are constantly surprised by how many HOA board members are without D&O Coverage. Even those board members who do have coverage are often not fully covered, sometimes leaving large gaps in their coverage that can put them at risk. Do you have a false sense of security? Get peace of mind that you have the correct coverage and contact us today for an Insurance REVIEW.
Request A Quote for Director’s & Officer’s Insurance