board question

[sandiev]

Illinois

Can a person on the Board, a director or officer of the condo association, be sued personally if he/she is covered under the master building insurance policy which carries coverage for Directors and Officers?

 

[HomeGuru]

Illinois

Can a person on the Board, a director or officer of the condo association, be sued personally if he/she is covered under the master building insurance policy which carries coverage for Directors and Officers?

**A: yes, of course. Is this coverage BOD E & O insurance?

 

[You Are Guilty]

**A: yes, of course. Is this coverage BOD E & O insurance?

Well, if they have a BOD E&O, doesn't that make it D&O? EIEIO.

 

[sandiev]

Illinois

What I meant is, if one of the board members is sued, doesn't the master policy D & O coverage mean that the insurance company handles the litigation?

 

[Ohiogal]

Illinois

What I meant is, if one of the board members is sued, doesn't the master policy D & O coverage mean that the insurance company handles the litigation?

Why are you being sued?

 

[You Are Guilty]

Illinois

What I meant is, if one of the board members is sued, doesn't the master policy D & O coverage mean that the insurance company handles the litigation?

You mean if they're sued personally? Generally yes, with the most notable exception probably being for malicious acts (or for any other exclusions listed on the policy).

So if you deliberately murder a board member who opposes you, you won't be covered.

 

[sandiev]

You mean if they're sued personally? Generally yes, with the most notable exception probably being for malicious acts (or for any other exclusions listed on the policy).

So if you deliberately murder a board member who opposes you, you won't be covered.

No I'm not being sued, but one of our board members does absolutely nothing and I wonder if our funds are intact if you know what I mean.

 

[HomeGuru]

No I'm not being sued, but one of our board members does absolutely nothing and I wonder if our funds are intact if you know what I mean.

**A: if that's your salient issue, then get an audit of the HOA books and accounts. Sheesh, talk about beating around the bush.

 

[HomeGuru]

Well, if they have a BOD E&O, doesn't that make it D&O? EIEIO.

**A: yes, and a moo moo here and a moo moo there, a quack quack here and a quack quack there**************here a quack, there a quack everywhere a quack quack, old MacDonald had a website, eeie eeie o**************...