Directors & Officers Liability Program
U.S. Insurance Services Community Association Directors & Officers Liability insurance is uniquely designed to meet the needs of condominium & homeowner associations with less than 250 units or 1,000 lots. The policy is enhanced by the Community Association Pro-Pak endorsement (PI-DO-100).
Coverage Highlights
- Broad definition of individual insured includes director, officer, trustee, volunteer and committee member
- Defense costs for non-monetary relief claims
- Defense costs for breach of contract
- Coverage can be scheduled to include an outside property manager
- Defense costs for failure to seek legal action against developer
- Optional duty to defend provision, affords insured’s participation in selection of counsel
- Defense costs for failure to collect or assess dues
- Defense costs for American with Disabilities Act claims
- Modified insured vs. insured exclusion for unit owners
- Bell Endorsement – provides coverage for indentify theft expenses, terrorism travel reimbursement, emergency real estate consultation, temporary meeting space expenses, workplace violence counseling, theft of work materials, kidnap ransom expenses, key individual replacement and crisis management expenses.
Underwriting Criteria
- Available in all states except CA, FL, TX
- Condominium / Homeowner Association D & O Liability Application or current version of competitor application
- Supplemental claim form if applicable
- Purchase of Condo / HOA Package Policy
- Average unit value of $500,000 or less
- No builder or developer on the board
- 100% residential occupancy
- No employees
