I am considering running for election to the board of directors of my homeowners association. What types of protections are available to protect me against legal liability for negligent acts?
Answer
The association should have directors & officers liability insurance, and you should purchase coverage for your own policy as well because coverage for such positions is usually excluded from a typical insurance policy unless you specifically ask for it -- and pay the associated premium. Absolutely buy it if the association has no such insurance, and if the association won't buy it, seriously consider resigning even if you're elected.
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