A Proactive Approach For New Association Board Members

Annual meetings for HOA and COA’s have kickedoff, and thousands of new board members are voted in with no prior experience with managing an association. We have a key tip that will help new board members execute their objective of preserving, protecting, and enhancing the value of their communities, but also reducing their personal liability while serving their post. As a board member or officer you have volunteered your time and have taken up a great deal of responsibility. With each decision you make you want to make sure your responsible for them, but the objective is not to be legally responsible. One of the first questions that you should ask the directors is if the board has Directors and Officers (D&O) Insurance. This insurance policy offers liability coverage for associations to protect officers, directors, employees, and volunteers from claims that may appear from decisions or actions that are done while you hold your board position within the scope of your regular duties. No one wants to be slapped with a lawsuit and have to pay out off pocket for executing their duties as a board member. Make sure your board is insured.