Officers/Directors/BOD Insurance question

Started by KarenT • 1 replies • 973 views

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KarenT (Washington)
Posts: 250

Posted:

Can anyone comment on whether the association insurance coverage for liability would cover an officer(s)/director(s)/board member(s) regarding a suit if that officer/director/board memember resigns and then the suit is filed?? I would think it would cover them during the "time" the incident took place but not after? Comments?

JohnK3 (Pennsylvania)
Posts: 967

Posted:

Most policies include events occuring during a coverage period. There are also typically limits as to the amount of time in which a claim must be filed. And note that most policies guarantee "defense" but "indemnity" is open until the InsCo determines the claim is covered.

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