Directors & Officers Liability for Community Associations
MSI helps protect boards and management of many types of community associations from costly litigation arising from their duties
Directors & Officers Liability for Community Associations
MSI helps protect boards and management of many types of community associations from costly litigation arising from their duties
Directors & Officers Liability for Community Associations
MSI helps protect boards and management of many types of community associations from costly litigation arising from their duties
Protecting community association boards and leaders from the rising threat of lawsuits
Running a community association is challenging enough, but the real possibility of being sued for decisions and actions as a board member or officer raises the stakes to another level. With decades of experience working with these associations and 35,000 currently insured through us for various coverages, MSI’s Preferred Property Program team has gained a deep understanding of their unique exposures.
We have developed a specialized directors and officers (D&O) liability policy for associations that provides $1 million to $3 million of admitted coverage on a primary or excess basis and is designed to work in conjunction with our umbrella program, both backed by a highly-rated global insurer.
Our coverage goes well beyond directors and officers to include trustees, employees, committee members, volunteers, independent community association managers and builder developers. The policy features a broad definition of “claim,” covering both monetary and non-monetary damages, and includes employment practices liability with defense expense coverage for wage and hour claims, along with several other coverage enhancements.
MSI delivers responsive service throughout the policy lifecycle, from quick underwriting review and quote turnaround to our dedicated claims team with decades of experience managing claims and litigation to achieve the best outcomes.
Count on MSI for D&O and several other coverages designed to provide a blanket of protection around community associations.
Protecting community association boards and leaders from the rising threat of lawsuits
Running a community association is challenging enough, but the real possibility of being sued for decisions and actions as a board member or officer raises the stakes to another level. With decades of experience working with these associations and 35,000 currently insured through us for various coverages, MSI’s Preferred Property Program team has gained a deep understanding of their unique exposures.
We have developed a specialized directors and officers (D&O) liability policy for associations that provides $1 million to $3 million of admitted coverage on a primary or excess basis and is designed to work in conjunction with our umbrella program, both backed by a highly-rated global insurer.
Our coverage goes well beyond directors and officers to include trustees, employees, committee members, volunteers, independent community association managers and builder developers. The policy features a broad definition of “claim,” covering both monetary and non-monetary damages, and includes employment practices liability with defense expense coverage for wage and hour claims, along with several other coverage enhancements.
MSI delivers responsive service throughout the policy lifecycle, from quick underwriting review and quote turnaround to our dedicated claims team with decades of experience managing claims and litigation to achieve the best outcomes.
Count on MSI for D&O and several other coverages designed to provide a blanket of protection around community associations.
Protecting community association boards and leaders from the rising threat of lawsuits
Running a community association is challenging, but the possibility of being sued as a board member or officer raises the stakes to another level. With decades of experience working with these associations, MSI has gained a deep understanding of their unique exposures.
We offer a specialized directors and officers (D&O) liability policy for associations that provides $1 million to $3 million of admitted coverage on a primary or excess basis and is designed to work in conjunction with our umbrella program, both backed by a highly-rated global insurer.
Extensive coverage for associations’ unique risks
Our coverage extends to trustees, employees, committee members, volunteers, independent community association managers, and builder developers. The policy features a broad definition of “claim” and includes employment practices liability with defense expense coverage for wage and hour claims, along with several other enhancements.
MSI delivers responsive service throughout the policy lifecycle, from quick underwriting review and quote turnaround to our dedicated claims team with decades of experience managing claims and litigation to achieve the best outcomes.
Availability
- Nationwide
Coverage
- $1 million-$3 million, primary or excess
- Umbrella coverage available up to $75 million
- Highly-rated global insurer
Product Features
- Coverage triggered by “any written demand” for monetary or non-monetary claims (no requirement that formal suit or litigation be filed)
- Broad definition of “Claim” provides coverage for monetary and non-monetary damages
- Employment Practices Liability coverage with Defense Expense coverage for Wage and Hour claims included
- Provides coverage for Directors, Officers, Trustees, Employees, Committee Members, and Volunteers, in addition to providing coverage for independent Community Association Managers and Builder Developers
- Punitive and Exemplary Damages coverage where insurable under applicable state law
- Coverage for Insured versus Insured claims (both Insured Person vs. Insured Person and Entity Organization)
- Defense Expense coverage for Breach of Contract Claims
- Additional Defense Limit of $1 Million Provided at No Additional Premium
- Full Prior Acts coverage available
Eligibility Classes
- Residential, Professional and Commercial Condominiums
- Cooperative Apartments
- Homeowner / Property Owner Associations
- Planned Unit Developments
- Timeshare Associations
- Mixed Use Associations
- Metroburb
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