Bonded and or Liability Insurance

Started by DeborahC3 • 1 replies • 1434 views

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DeborahC3 (Tennessee)
Posts: 8

Posted:

As a new HOA, what protection do you suggest for board members? Bonding the treasurer and Fiduciary Liability have been mentioned to me. I would like to get your input.

ChrisP5 (Missouri)
Posts: 165

Posted:

I am sure others with much more insight will jump in shortly but you should look at a fidelity bond covering anyone with access to your bank accounts (including the management company) and also a Directors and Officers policy for your board. That would be in addition to any liability or property insurance your association may be obligated to provide, if any.

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