Directors & Officers Liability Insurance

Directors and Officers Liability (D&O) is the most important coverage that can be purchased for an association. Most boards review the insurance by purchasing the lowest price proposal. As a member of the board, you want to make sure that you have the proper D&O liability insurance.

Association management is very complex and more boards are being sued. You are required to make tough decisions to run the association. Those tough decisions can result in a claim or lawsuit against you as the board member. You need to make sure you have the broadest Directors and Officers Liability coverage that will protect the association and you individually.

Not all policies are created equal

All policies have coverage differences and exclusions and most are inadequate to properly protect the board members and the association. Connie Phillips Insurance has the answer for you. We provide a comparison sheet to show you the coverage differences with your current policy and our recommended D&O coverage. Below is a coverage checklist that we use to compare with your current policy.

Directors & Officers Liability Coverage Check List

The following checklist is intended to provide our clients with the general information needed to review and analyze their Directors & Officers Liability Insurance policy. (Download as a PDF file)

_____ Board Members, Past, Present and Future Covered
_____ Employees, Volunteers, Committee Members, and Spouses insured
_____ Property Manager Coverage
_____ Full Prior Acts
_____ Non-Monetary
_____ Defense Costs Paid Outside the Limit of Liability
_____ Full Limit Defense Costs for Third Party Breach of Contract Claims
_____ Provides Coverage for Claims Brought by Entity
_____ Employment Practices Coverage
_____ Libel, Slander, or other Defamation
_____ Non-Employment (Third Party) Discrimination
            Make sure you have this coverage to protect against Fair Housing claims!
_____ False Arrest, Wrongful Entry or Eviction
_____ Copyright, Trademark, or Trade Dress Infringement
_____ Defense for Failure to Maintain or Obtain Insurance
_____ Final Adjudication Language for Fraudulent/Criminal Wrongful Acts
_____ Builder/Developer/Sponsors Protected as Board Members (even if they leave the board)
_____ Noise (pollution) Covered
_____ Architectural Review Board Decisions
_____ Pre- and Post-Judgement Interest Paid
_____ Investigation, Adjustment, Defense & Appeal Defense Costs Provided
_____ Loss Definition Includes Punitive, Exemplary, Multiple Damages (where insurable)
_____ Mediation Incentive
_____ Hammer Clause
_____ Defense for Wage and Hour Claims (FLSA)
_____ Cyber Liability – Included at Limit of Liability
_____ Cyber Expense Coverage (Privacy Event Expense)
_____ Public Relations Expense
_____ Outside Directorship Endorsement
_____ Supplementary Payments

Be sure to work with an experienced agent who can explain and provide the proper protection for your association. Call us today at our office in Frederick, Maryland or Virginia Beach, Virginia at 888-439-0479. You can also receive a comparative rate quote by filling out our web form.