Liability issues for being on HOA or subdivision committee

[XBoxBoy]

Hopefully someone out there can comment on this.

Just how much of a risk do you take by being on a HOA or a subdivision committee. (Our neighborhood doesn’t have a HOA, but it does have an Architectural Jury) Is liability insurance available for this sort of thing? Anybody had experience with this sort of thing?

Thanks,

XBoxBoy

[XBoxBoy]

Anybody???

[XBoxBoy]

Anybody???

[XBoxBoy]

Anybody???

[XBoxBoy]

Anybody???

[XBoxBoy]

Anybody???

[NotCranky]

I’ll try.

Some of this may sound fuzzy to a real expert since I am just repeating what I gleaned from a conversation about things that I don’t completely understand.

My mother in law is the president of her HOA, is on the board as one of five directors.Somewhere in there they have an “Architectural Control Committee”. All are insured with D&O policies. If not they could be sued as individuals. For 69 units a million dollar, double indemnity policy is around 1k annually. On top of that they have a 5 million umbrella policy. She said if all they had was the architectural review/control aspects, she would still expect a need for insurance to protect participants.

It was suggested that you continue to ask around and take referrals to insurance agents who have a reputation for advising other groups well.

[NotCranky]

I’ll try.

Some of this may sound fuzzy to a real expert since I am just repeating what I gleaned from a conversation about things that I don’t completely understand.

My mother in law is the president of her HOA, is on the board as one of five directors.Somewhere in there they have an “Architectural Control Committee”. All are insured with D&O policies. If not they could be sued as individuals. For 69 units a million dollar, double indemnity policy is around 1k annually. On top of that they have a 5 million umbrella policy. She said if all they had was the architectural review/control aspects, she would still expect a need for insurance to protect participants.

It was suggested that you continue to ask around and take referrals to insurance agents who have a reputation for advising other groups well.

[NotCranky]

I’ll try.

Some of this may sound fuzzy to a real expert since I am just repeating what I gleaned from a conversation about things that I don’t completely understand.

My mother in law is the president of her HOA, is on the board as one of five directors.Somewhere in there they have an “Architectural Control Committee”. All are insured with D&O policies. If not they could be sued as individuals. For 69 units a million dollar, double indemnity policy is around 1k annually. On top of that they have a 5 million umbrella policy. She said if all they had was the architectural review/control aspects, she would still expect a need for insurance to protect participants.

It was suggested that you continue to ask around and take referrals to insurance agents who have a reputation for advising other groups well.

[NotCranky]

I’ll try.

Some of this may sound fuzzy to a real expert since I am just repeating what I gleaned from a conversation about things that I don’t completely understand.

My mother in law is the president of her HOA, is on the board as one of five directors.Somewhere in there they have an “Architectural Control Committee”. All are insured with D&O policies. If not they could be sued as individuals. For 69 units a million dollar, double indemnity policy is around 1k annually. On top of that they have a 5 million umbrella policy. She said if all they had was the architectural review/control aspects, she would still expect a need for insurance to protect participants.

It was suggested that you continue to ask around and take referrals to insurance agents who have a reputation for advising other groups well.

[NotCranky]

I’ll try.

Some of this may sound fuzzy to a real expert since I am just repeating what I gleaned from a conversation about things that I don’t completely understand.

My mother in law is the president of her HOA, is on the board as one of five directors.Somewhere in there they have an “Architectural Control Committee”. All are insured with D&O policies. If not they could be sued as individuals. For 69 units a million dollar, double indemnity policy is around 1k annually. On top of that they have a 5 million umbrella policy. She said if all they had was the architectural review/control aspects, she would still expect a need for insurance to protect participants.

It was suggested that you continue to ask around and take referrals to insurance agents who have a reputation for advising other groups well.

[PCinSD]

Risk is minimal. I haven’t seen an HOA that doesn’t have a policy that covers the board members, usually at least 1 million. The majority of HOA board members are laypersons with no experience being an officer in a corporation, which is to be expected. The insurance policy covering the board is probably mandatory. Otherwise, nobody would ever volunteer for an unpaid position if they faced personal liability.

[PCinSD]

Risk is minimal. I haven’t seen an HOA that doesn’t have a policy that covers the board members, usually at least 1 million. The majority of HOA board members are laypersons with no experience being an officer in a corporation, which is to be expected. The insurance policy covering the board is probably mandatory. Otherwise, nobody would ever volunteer for an unpaid position if they faced personal liability.

[PCinSD]

Risk is minimal. I haven’t seen an HOA that doesn’t have a policy that covers the board members, usually at least 1 million. The majority of HOA board members are laypersons with no experience being an officer in a corporation, which is to be expected. The insurance policy covering the board is probably mandatory. Otherwise, nobody would ever volunteer for an unpaid position if they faced personal liability.

[PCinSD]

Risk is minimal. I haven’t seen an HOA that doesn’t have a policy that covers the board members, usually at least 1 million. The majority of HOA board members are laypersons with no experience being an officer in a corporation, which is to be expected. The insurance policy covering the board is probably mandatory. Otherwise, nobody would ever volunteer for an unpaid position if they faced personal liability.

[Author]

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