HOA Directors’ Duties Relating to Association Insurance Coverage

Homeowners association directors have specific duties that are related to the insurance coverage that is purchased for the association. Those duties include: (i) purchasing and maintaining proper insurance coverage; (ii) keeping association members informed about the association’s insurance coverage; (iii) consulting appropriate insurance agents / brokers regarding the available coverage; and (iv)notification and tendering claims to insurance carriers when appropriate.

Purchasing and Maintaining Proper Coverage.

Determining the proper insurance coverage for a homeowners association necessitates knowing whether or not there are any specific insurance requirements that are imposed by[…]