Non-Profit Community Association Directors’ & Officers’ Liability

Third Party Discrimination CoverageWrongful Personal Injury definition includes non-EPL discrimination

Wrongful ActsBroad definition of Wrongful Acts including Wrongful Employment Practices, Wrongful Personal Injury (including Third-Party discrimination) and Publisher’s Wrongful Act.

Breach of ContractFull-Limit Defense for third party breach of contract claims.

Defense CostsIn addition to the limit of liability, coverage includes reasonable and necessary fees, costs and expenses, such as Investigation, Adjustment, Defense, and Appeal.

ClaimExpansive definition of Claim including (1) civil, criminal, or administrative adjudicatory proceeding; (2) a written demand for monetary damages or nonmonetary relief; or (3) an Equal Employment Opportunity Commission proceeding or any state, local or territorial equivalent.

LossLoss means “Damages, Settlements and Defense Costs” and includes pre- and post-judgment interest. Loss also includes punitive, exemplary or multiple damages, if insurable, to the fullest extent permitted by any applicable law.

SpousesSpousal coverage expressly included.

DevelopersCoverage for developers on the association board in their capacity as board members, with coverage for acts during board membership continuing after departure from the board.

Prior ActsFull prior acts coverage, subject to policy terms and conditions.

Prior and Pending Litigation Prior and Pending Litigation date considered with proof of expiring coverage.

Insured - Insured means the Named Entity (community association), qualified subsidiaries and Insured Persons. Insured Persons includes all past, present and future elected or appointed directors, trustees, officers, employees, committee members or volunteers of the community association, including their estates, heirs, legal representatives or assigns.

Property Manager (included for no additional premium) - Property Manager coverage available for both (1) acts as a property manager for the community association and (2) where sued vicariously for the acts of the association board.

Non-Profit Covered Associations - Condominiums, Property Owners Associations, Homeowners Associations, Commercial Associations, Timeshares, Master Associations, Cooperatives Planned Urban Developments.

Legal Defense Provided - Under the policy’s duty to defend provision, an attorney experienced professional liability will represent you, with legal costs above the retention covered up to the limits of liability you select. All covered claims, whether warranted or groundless, will be defended.

Extended Reporting Period - Extended Reporting Period available for purchase at 100% of the annual premium for 12 months, and can be purchased up to 30 days post expiration. (Subject to state requirements)

Severability - Profiting, fraud, or criminal acts of one Individual Insured will not be imputed to another to preclude coverage. Further, the failure by one Insured to disclose in the application facts and circumstances which may give rise to a future claim will not be imputed to another insured to preclude coverage.

Failure to Obtain or Maintain Insurance - Defense of Claims for failure to obtain or maintain adequate insurance.

Deductible Waived for Financial Insolvency Final Adjudication Language with regard to fraudulent or criminal Wrongful Acts*