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Directors and Officers - Condominium Boards of Directors

We have designed the Condominium Board of Directors Liability Insurance (Directors and Officers Liability Insurance for Community Association) to handle these situations in a safe and responsible manner to protect the financial liability of decision-maker resulting from directing a Condominium Board.

 

Policy coverage

It provides financial indemnity for defense and judgment costs based on decisions that caused financial loss to the Condominium Board of Directors. Some frequent lawsuits are brought for breach of duty, negligence, director and/or officer errors and omissions in the exercise of their official duties.

 

What is included in the coverage?

• Financial compensation arising from a judicial judgment.

• Attorney fees and fees to defend current, past, and future directors, their heirs and/or legal representatives in case of death.

 

Limits and deductibles available:

• $100,000 minumum limit up to the $1,000,000 maximum limit

• $1,000 minimum deductible up to $25,000 maximum deductible

 

What distinguishes our policy?

• Competitive premium

• Coverage provided by a purely local (Puerto Rican) company

• Coverage for past, present and future directors and officers

• Premium financing available

 

 

 

 

Important Notice

This information represents a summary of the policy’s most important characteristics. For more information please refer to the policy or contact your authorized representative or producer.

 

 

 

 




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