Areas of Specialization
We get insurance companies and community boards to speak the same language. We are fluent in collaboration.
The insurance and risk management environment of today is more tumultuous than ever, and as a result, the need to understand the coverage provided by association and unit owner policies, and their inter-relationship, has never been more important or more challenging. One of the most important duties of a board is to ensure that the association carries all required and adequate insurance coverage.
As a volunteer leader, your association's directors and officers (D&O) liability insurance should be an item you annually review to ensure up-to-date and adequate D&O coverage. If you serve on your association's board of directors, you know the experience can be both demanding and rewarding. You also know that, despite your best efforts and intentions, your decisions are not always well-received by members of your community. Members constantly threaten lawsuits against associations and the individual members of the board of directors. Most board members assume all claims that result from a board just doing its job will be covered by the association's D&O liability policy. This is an erroneous assumption that is increasingly causing financial turmoil in associations as suits are filed and associations are forced to defend claims and pay judgments with association funds.
Despite the common misconception of the scope of coverage, D&O insurance does not provide "full coverage" for all claims made against an association and its board of directors. Weissman attorneys help board members understand state insurance laws and coverage requirements. We work closely with insurance companies to understand and interpret the latest laws to protect association board members.