- Tailored coverage for community association boards and their property managers
- Based on more than 35 years of industry experience
Customized Insurance for Community Associations
Types of Claims
Community association boards and property managers can be sued over a staggering variety of sophisticated liability issues, including allegations related to:
- Housing discrimination
- Employment discrimination
- Architectural disputes
- Inadequate reserves
- Negligence
- Third-party breach of contract
- Breach of or change in covenants, conditions & restrictions
- Assessments
- Liens
- Defamation
- Breach of fiduciary duty
- Declaratory or injunctive relief actions
Unfortunately, community associations can also be vulnerable to criminal losses such as embezzlement, check forgery, equipment theft and so on. The truth is that 80% of U.S. workplace crime is carried out by employees, and crimes from “trusted insiders” can go undetected for year.
Coverage Highlights
- Flexible policy offers Directors & Officers Liability, Employment Practices Liability and Crime
- Broad definition of insured persons includes past and present directors, officers, trustees, employees, committee members, as well as property managers and their employees
- “Second generation” claims arising from property damage (other than those related to a construction defect or specified perils) are covered
- Coverage for property manager wrongful acts, including acts, errors, and misstatements made while providing real estate property management services at the direction of the association board
- Duty-to-defend coverage means that Chubb will appoint experienced counsel to defend the insured should it be sued