Safeguarding Community Associations: The Annual Insurance Review Imperative by Dave Orr
As community association board members serve as the governing body of neighborhoods, preserving their vitality and protecting their assets becomes a collective responsibility. In the realm of safeguarding, a vital practice is the annual review of insurance policies. In addition to essential coverages such as Property, Liability, and Building and Ordinance policies, let’s look at other coverages you may not have considered and some best practices for reviewing them. 1. Directors and Officers (D&O) Insurance: Boards of directors serve to make decisions on behalf of the community. ...