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Commercial
Coverage is a client driven commercial property insurance brokerage with a network of over 100 carriers providing national
coverage for Apartments, Mixed Use, Single Tennant, Construction (Condos, Tracts, Apt etc.), Conversions, TIC, HOA 's
offering Fire, Liability, Umbrellas, Earthquake, Flood, Wind and much more. Need a QUOTE or INDICATION?
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| | | DO's for an HOA: we are not talking about the dues, it is the Directors and Officers policy.
(D&O)
The basis of the "Directors and Officers" coverage
is to provide volunteers personal protection when acting as a director, trustee or officer of nonprofit organizations, such
as a Home Owners Association. (HOA)
As
an example, the HOA's board can be responsible for repairs and maintenance to the condo structure. Failure
to maintain and repair the property may have a negative effect on the association's value. If determined the board
is at fault for this type of oversight, causing a loss in value, they may be at personal risk for any lawsuit filed by the
association.
A Directors and Officers policy
will provide personal coverage to the board members for its actions and decisions made on behalf of the home owners association.
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