This week Jim Slaughter, Attorney, Black, Slaughter & Black wrote an excellent article on Board of Directors for HOA’s duties, standard of conduct, and the Liability. This is a great article for new and long standing board members of HOA’s. Congratulations! You’ve just been elected to your HOA/condo association board of directors. Your new [...]
Hope you are having a great start to your morning. I wanted to make sure that you have seen the information about FEMA’s definition of a Private Association. FEMA is trying to limit where they will reimburse local municipalities for debris pick-up or disaster assistance after a Hurricane or natural disaster. They want private association, [...]
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 [...]
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 [...]
