AnneW1
Posts: 9
Posts: 9
Posted:
I am wondering if it is customary for D & O insurance to cover committee members. We do not have committee charters and we do have a committee that has some general manangement control over a contractor. Thanks.
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D & O insurance, committee members
Started by AnneW1 • 10 replies • 1292 views
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JohnK3
Posts: 964
Posts: 964
Posted:
Our D&O specifically covers committee members. Check your policy, if you haven't already.
MaryA1
Posts: 6,993
Posts: 6,993
Posted:
Ditto for my assn. I think it is standard policy to cover all board and committee members together with past board members.
AnneW1
Posts: 9
Posts: 9
Posted:
Thanks. I am new to an HOA and new to a committee. The disclosurere: insurance we received as homeowers states regarding D & O
Broad "named insured", manager added insured. Does this mean committee members too? Will ask to see the complete policy. thanks.
Broad "named insured", manager added insured. Does this mean committee members too? Will ask to see the complete policy. thanks.
SusanW1
Posts: 5,197
Posts: 5,197
Posted:
Your bylaws MAY have idemnification clauses in them, too.
Since you are a committee member, all the actions have to be approved and carried out by the board, so your liability is really nil. You are in a benign capacity.
Your state's nonprofit act may also idemnify committee members, too since you are acting as a volunteer for the HOA.
Since you are a committee member, all the actions have to be approved and carried out by the board, so your liability is really nil. You are in a benign capacity.
Your state's nonprofit act may also idemnify committee members, too since you are acting as a volunteer for the HOA.
ShelleyD
Posts: 41
Posts: 41
Posted:
I am curious to see if the BOD shows you the insurance policy. I am a board member and have been asking since May 2008 to see the insurance policy and the President has yet to reply to my request. I went to the place that insures us and they wouldn't even show me the policy and I proved to them I was a board member. I did ask if committee's were insured and they said they were.
SusanW1
Posts: 5,197
Posts: 5,197
Posted:
Your Secretary or Treasurer should have a copy. Plus on the annual financial report, you should see where it was paid.
No, I don't think that an insurance company would open up a client's files to show someone what was in it. You need to get this info from your board officers.
No, I don't think that an insurance company would open up a client's files to show someone what was in it. You need to get this info from your board officers.
MicheleD
Posts: 4,427
Posts: 4,427
Posted:
That's very odd, Shelley.
Our policy is available for ANY member to review.
Our policy is available for ANY member to review.
GlenL
Posts: 5,429
Posts: 5,429
Posted:
Our insurance agent mails out a certificate of insurance to every homeowner each year with a recap of all the limits.
AnneW1
Posts: 9
Posts: 9
Posted:
We also receive a certificate of insurance with the annual budget.
I am trying to figure out if I need to see the complete policy in order to understand if committees
are covered. The language on the certificate does not implicitly say so.
I am trying to figure out if I need to see the complete policy in order to understand if committees
are covered. The language on the certificate does not implicitly say so.
AnneW1
Posts: 9
Posts: 9
Posted:
We also receive a certificate of insurance with the annual budget.
I am trying to figure out if I need to see the complete policy in order to understand if committees
are covered. The language on the certificate does not implicitly say so.
I am trying to figure out if I need to see the complete policy in order to understand if committees
are covered. The language on the certificate does not implicitly say so.
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