Directors and Officers Liability Insurance for HOAs

Are you on your HOA board?  Do you sleep well at night wondering whether your personal assets are safe because of a decision or action - inaction - the board made on behalf of the association?

When you join a board, you are volunteering your time and effort and the responsibility of making decisions for the association.  There is a fiduciary duty to make decisions in the best interest of the association as well as interpret and enforce the association's governing documents.  These actions can lead to potential lawsuits alleging breach of fiduciary duty, breach of contract, slander or libe,l and discrimination.  A good D&O policy will cover lawsuits for either monetary or nonmonetary relief.  Call Shelly at Ben Goodwyn Agency for your options. 972.618.0100