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Condo Board Risk & Insurance Concerns – Including D&O Coverage

In conjunction with Anderson Kill

Sorry, this event has been postponed. Please look here for the reschedule date.

Tuesday October 13, 1:00-2:00 pm

Understanding Condo Insurance – for Board Members. Is there a liability exposure from serving on the board?

1. Where does the master insurance leave off – and the unit-owner insurance pick up?

            a) are the condo docs written correctly in the first place?

            b) the best approach for that allocation

2. Coverage issues and gaps to watch out for: property insurance terms and exclusions; liability insurance terms and exclusions.

3. How much insurance is enough – the art of determining proper limits.

4. D&O insurance for the board.  What limit?  Don’t buy on price alone – you need to know the policy language.

5. How to advise the unit-owners of the master coverage and how their own insurance interacts, including re the property deductible.  Enlisting the broker to establish contact with the unit-owners.

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The largest companies have entire risk management departments reporting to the CFO.  You need risk management too.

(c ) Licata Risk & Insurance Advisors, Inc. 2020

Frank Licata

[email protected];   617.718.5901

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Oct 08, 2020

Licata Risk Licata Risk & Insurance Advisors, Inc.
137 South Street, Second Floor
Boston, MA 02111-2848
617-451-2140     [email protected]
LicataRisk Advisors is an independent risk management and insurance consulting firm. We are not brokers and we do not sell insurance. We are not connected to any insurance company or product in any way and do not receive commissions. This is an important difference as you will have an expert on your side who is only committed to you.

Licata Risk is not a law firm and does not practice law. General advice and contract input by the consultants, including those who are attorneys, is to provide insight into the risk and insurance aspects. Your attorney should be the final authority on any legal matter.