Serving on a HOA board with no insurance

Started by ChrisE8 • 6 replies • 425 views

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ChrisE8
Posts: 454

Posted:

Would you serve on a HOA board if the board does not have directors' and officers' insurance and, even though the HOA indemnifies directors, if the HOA is broke?

It seems too risky to me.

Thanks.

GenoS (Florida)
Posts: 4,276

Posted:

Just say no.

CathyA3 (Ohio)
Posts: 6,299

Posted:

This is easy: is there ANT benefit to you that makes the potential cost to you worthwhile?

Didn't think so...

CathyA3 (Ohio)
Posts: 6,299

Posted:

Quote:

Posted By CathyA3 on 11/10/2020 1:52 PM
This is easy: is there ANT benefit to you that makes the potential cost to you worthwhile?

Didn't think so...

ANY. Time to get the fat fingers off the keyboard...

GeorgeS21 (Florida)
Posts: 3,808

Posted:

Never.

AugustinD
Posts: 5,144

Posted:

Quote:

Posted By ChrisE8 on 11/10/2020 1:19 PM
Would you serve on a HOA board if the board does not have directors' and officers' insurance and, even though the HOA indemnifies directors, if the HOA is broke?

It depends on what risk I would be taking by not seeking a position on the board.

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