Homeowners association board members make difficult decisions, which can have a huge impact on the people around them. Consequently, individual members of the HOA board are susceptible to becoming targets for lawsuits along with the association itself. Considering the majority of them own at least one of the development units, they do have something to [...]
2018 Advocacy - As members of the HOA industry it is so important to stay up to date on issues that affect us and our Communities. CAI lets us know what they support for upcoming Legislation. Please see this link to sign up for the Advocacy Emails from CAI National. https://www.caionline.org/Advocacy/Pages/default.aspx Please research the pending [...]
The Directors’ and Officers’ Liability coverage is an insurance that protects officers and trustees from being held accountable for the actions they took or failed to take as members of a board. It offers liability coverage for the damages that ensued alleged wrongdoings of a member. This policy can cover the liability of officers and [...]
Education Luncheon Presented by Trisure, Ward & Smith, & Dragonfly Pond Works Please join us for an educational luncheon focused on community associations. Our team of local experts will present on several topics which will hopefully help you manage community associations. DATE: Tuesday December 12, 2017 TIME: 11:30am - 1:00pm LOCATION: Carolina Restoration Services; 3401 [...]
Hurricanes are strong storms that cause life and property threatening hazards such as flooding, storm surge, high winds and tornadoes. Preparation is the best protection against the dangers of a hurricane. Here are some resources that we fell you might find helpful to prepare your family, your home and your business to remain safe during [...]
I just wanted to write a quick note to share some great news with you. As you may or may not know I have been continuing my focus on HOA’s. I have been continuing my professional education through advanced education courses offered by CAI (Community Associations Institute) and have completed the requirements for obtaining the [...]
Crime and Fidelity Insurance protects the actual money the Association has in the operating account and reserve accounts. Crime and Fidelity Insurance protects the money from embezzling, check fraud, invoice padding or false invoices, computer fraud and wire fraud. What is the difference between Crime and Fidelity and Employee Dishonesty? The difference is in the [...]
In Parts 1 and 2 of this article, we discussed how the majority of Directors’ & Officers’ (D&O) Liability Insurance policies on the market today exclude the most common lawsuits facing homeowners associations, and the value of having a policy tailored to an HOA. What is “failure to procure insurance” and why does it matter [...]
In Part 1 of this article, we discussed the importance of having a Directors’ & Officers’ (D&O) Liability policy customized to the homeowner association’s needs, as they provide coverage for common claims against HOAs, such as discrimination lawsuits. What are non-monetary claims and why is D&O coverage important? Non-monetary claims are another example of D&O [...]
What is Directors’ & Officers’ Liability Insurance? One of the most important insurance policies in any homeowner association’s financial portfolio is also one of the most overlooked and misunderstood: Directors’ & Officers’ (D&O) Liability Insurance. A good D&O liability insurance policy protects both past and present HOA board members, the property manager, employees, volunteers, and [...]
