FL BOD Insurance Minimums

I've seen references here about the BODs "D & O" Policy (or something similar).

Can someone describe what the average or typical policy covers.

Does it (typicaly) include coverage for a BOD member who might get injured fixing a traffic gate or maintaining plants in a common area, etc.

The BOD requires a waiver be signed if you want to volunteer for anything physical. Who would do that?

BOD members say they don't need waivers as they are covered by by the BOD's "blanket" policy.

TIA...

RW1

D&O insurance will not cover a board member if he is physically hurt repairing a fence in the community. If he hurt himself while performing a service for the community, the HOA general liability insurance may cover this. Signing a waiver does not alleviate any liability from a HOA if you are injured. The release goes to a real concern the HOA knows about, but it does not provide complete immunity. There are general liability policies that do not cover officer or directors of the organization, so you have to check the policy.

D&O insurance covers monetary matters, liability for defending the HOA from lawsuits and in general wrongful acts of the directors. Most policies will not cover directors if they knowingly violate the covenants or state laws regarding the HOA. This is why it is so important that the directors follow the rules, if they don't, they can be held personally liable.

I should point out that IHG, an HOATAlk sponsor, also specializes in D&O. They have a good explanation on their site, but not a specimen policy.

Joe