D & O insurance, committee members

Started by AnneW1 • 10 replies • 1291 views

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AnneW1 (California)
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.

JohnK3 (Pennsylvania)
Posts: 967

Posted:

Our D&O specifically covers committee members. Check your policy, if you haven't already.

MaryA1 (Arizona)
Posts: 7,043

Posted:

Ditto for my assn. I think it is standard policy to cover all board and committee members together with past board members.

AnneW1 (California)
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.

SusanW1 (Michigan)
Posts: 5,202

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.

ShelleyD (Florida)
Posts: 42

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 (Michigan)
Posts: 5,202

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.

MicheleD (Kentucky)
Posts: 4,491

Posted:

That's very odd, Shelley.

Our policy is available for ANY member to review.

GlenL (Ohio)
Posts: 5,491

Posted:

Our insurance agent mails out a certificate of insurance to every homeowner each year with a recap of all the limits.

Studies show that 5 out of 4 people have problems with fractions

AnneW1 (California)
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.

AnneW1 (California)
Posts: 9

Posted:

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