Q Our co-op has a question about our various insurance policies. Our insurance agent has recommended to the board that we keep our D&O coverage separate from our general liability coverage. I understand that some commercial general l…
In order to understand circumstances in which you might not be covered by your D&O policy, you must first ask the question, “Where does a community association’s D&O policy fall within the entire insurance puzzle?” Second, “Are all D&O po…
In today's litigious society, it seems like almost anybody can be sued for almost anything. Co-ops and condos are no different. And no matter what side of the legal battle you're on, knowing the role of your community's manager is vital …
Q We have a board of directors who decides to use the proprietary lease when it is to their advantage. We have had a least three separate elections where there have been board members elected who were not shareholders. When a lawsuit is…
Members of co-op, condo and HOA boards often give a great deal of their personal time to make decisions in the best interest of their association, cooperative or condo community. These volunteers are charged with protecting the community…
While there are many similarities between co-ops and condos, are the two very different when it comes to things like insurance and liability? The answer is both yes and no. There are similarities, but some significant differences as…
Homeowners associations are governed by a private board, generally comprised of residents of the condominium. Just because board members are unpaid volunteers, however, does not exempt them from exposure to lawsuits. Indeed, HOA board me…
In 1997, a racially mixed couple wanted to sublet a co-op apartment at the Beekman Hill House Apartments in New York City. Nicholas A. Biondi, then-president of the Beekman Association's board of directors, refused to approve the couple'…
By now, you have already heard about the "dramatic" changes in the Directors & Officers insurance marketplace. You have also most likely heard about the increasing number of lawsuits against directors and officers, and why associations t…