Directors and Officers Liability Coverage provides financial protection for the directors and officers of your homeowner association in the event they are sued in conjunction with the performance of their duties as they relate to the association.
As an officer or director of your homeowner association, you indeed put your personal bank account on the line every time you make a decision or vote on a motion.
Why? Because you could be sued by someone who claims your decision caused him or her harm. A jury could agree and award damages you would have to pay. Personally. And even if you win the lawsuit, you could lose money. Because, win or lose, you’ll probably have to pay a bundle for legal defense costs.
Back your decisions with quality insurance coverage.
What to look for in a policy:
- Coverage on a claims-made basis
- Insures past, present and future directors, officers, trustees and committee members
- Includes “entity” coverage to protect your organization for liability arising from its wrongful acts
Your good name and personal assets are both hard won and deserve the most vigorous defense possible. Make sure your policy has the best coverage possible.
