For your risk management needs, the following is an index of helpful resources:
Community Association News from IHG - Summer 2007 -
Risk Management Information: Drug rehabs in your backyard
A Message from CAI: Improve your marketability
State Alert - VA: A new law that imposes a $10,000 minimum for crime coverage
Growing Your Business: When does a property manager need E&O?
Directors & Officers Program - AGOSNet (tm) Loss Control - The IHG Directors & Officers Liability Insurance Program and *THE AGOS GROUP, LLC, are pleased to introduce AGOSNET(TM), a loss control platform that features a menu of training and best practices tools designed to empower organizations in their efforts to minimize and properly manage workplace wrongdoing, loss and litigation.
Download an overview of the program and client access instructions.
Why Associations Need Crime Coverage - Condo and homeowners’ associations would be wise to purchase crime coverage to protect the association against internal theft by insiders and theft of assets by third parties. The standard fidelity bond only covers criminal acts by paid employees unless board members and other volunteers are endorsed on the policy.
Defamation, emotions and D & O litigation - D&O litigation is often emotionally charged, but defamation cases may be the most volatile of all. Harm to one’s reputation or integrity is often perceived as irreparable by the victim, resulting in lawsuits initiated on “principle.” This type of claim will be no stranger to HOA’s in the future. This article offers strategies, considerations, and a case study on defamation suits.
Community Association News from IHG - Fall 2006 -
Risk Management Information: Defamation, emotions and D & O litigation.
A Message from CAI: Knowledge you can share to help your community association clients.
Growing Your Business: Why associations need crime coverage.
What’s New: AGOSNET™, a loss control platform.
State Alert – HI: A new law that imposes retention minimums for fidelity bonds.
Community Manager Errors & Omissions Coverage: What You Need To Know - For reasons I will leave to property managers to discuss amongst themselves, there have been a number of myths regarding property manager exposure in the community association industry. In brief, I call this the “Teflon Myths.” The first myth is often brought up when I ask a property manager if he or she has errors and omissions coverage. The answer that I am most often given is that “errors and omissions coverage is not necessary, because my management agreement with the community association provides me with a hold harmless provision or an indemnity agreement.” The second myth that is often proffered is that “the community association’s directors’ & officers’ liability policy will protect me.”
The inherent reality of these myths is that they are just that: myths. As with most myths, although they make great stories, they are not quite accurate.
How Will I Cover That Unexpected Loss Assessment? - I just attended my monthly association meeting and the association’s board advised the members that the association was just hit with a $1,500,000 judgment due to skateboarding accident in the parking lot of the association. That news was tragic and bad enough. Unfortunately, the bad information was to follow. The association only had $1,000,000 general liability coverage for this incident. Accordingly, the remaining $500,000 will have to be satisfied pursuant to a “special assessment” levied on the membership. With 10 members in the association, each member will be assessed $50,000 per member. My neighbor sitting next to me said: “thank goodness I have loss assessment coverage.” I turned to my neighbor and said: “what is that?” I said my broker told me I have full coverage. As I found out, the “full coverage” I was told I had did not include “loss assessment” coverage.
Cost Savings Measures and the Community Association: Is it Possible? - In this post-9/11 era, when insurance companies are still recovering from the largest single insurable loss in history, community associations are feeling the pinch. The question arises: can a community association take steps to minimize insurance cost increases?
Community Association D&O Risk: Good Intentions Are Not Enough - When you sell property coverage for condominiums, co-ops and homeowners' associations, do you ask these clients if their members have Directors' and Officers' (D&O) insurance covering their volunteer board members? It's important to get answers to this question; not only for them, but for your own protection as the insurance agent.
Top Ten Most Common D&O Insurance Claims - This article will help you to identify the most common claims;
identify why these common claims occur;
learn how to avoid these claims in the first instance;
if a claim still occurs, and it will, learn how to informally resolve claims before they explode; and,
learn how to maximize the resolution of a claim with hints from the insurer.
From the Claims Files - Read about some of the most common types of D&O claims submitted to IHG Insurance.
The Employment Application - An employment application is an information-gathering tool that will assist you in your hiring decisions and should contain language that will reduce employment-related liability exposures.
The Employee Handbook - There are many good reasons, both legal and non-legal, to publish a handbook.
Risk Management Tip: Reference Checks - Much information regarding an applicant's past will come not from a criminal background check, but from traditional employment reference checks.
Is There Value To Employee Background Checks? - The purpose of an employee background check is twofold: (1) verify the information provided by the applicant, and (2) develop additional relevant information necessary to make an informed decision regarding the appropriateness of the applicant.
npo-ins.com
- For classes of Nonprofit D&O other than Community Associations,
such as Social Service & Charitable organizations; Museums,
Historical Societies and Botanical Gardens; Foundations; Nonprofit
Long-Term Care Facilities; Chambers of Commerce, Membership Clubs,
Humane Societies and other nonprofit organizations; and Social and
Recreational Clubs, please visit IHG Insurance's sister-company?s
website.
Community
Associations Network - A resource center for those who live in, govern
or work with condominium, homeowner and property owner associations. CAN
links to articles and information around the internet.
Community
Associations Institute - Community Associations Institute (CAI) is a
national, nonprofit 501(c)(6) association created in 1973 to provide
education and resources to America's 231,000 residential condominium,
cooperative and homeowner associations and related professionals and
service providers. The Institute is dedicated to fostering vibrant,
responsive, competent community associations that promote harmony,
community, and responsible leadership. We are proud to announce that CAI
has awarded its exclusive endorsement to the IHG/CNA D&O Program.
CNA Pro - CNA Pro
is one of the largest providers of non-medical professional liability
insurance and risk management services, as well as a premier writer of
financial insurance products. We provide insurance protection for a
variety of professional liability and fidelity exposures.
California Association
of Community Managers - CACM is the only organization in California
whose membership is comprised entirely of community association managers
and association practitioners. CACM's emphasis is on education, training
and heightened professionalism of community association managers.
Programs, activities and educational opportunities dealing with a
variety of topics are available. All are tailored to meet the needs and
interests of community association managers.
Agency Specialty
Product Network - Agency Specialty Product Network (ASPN) serves as a
conduit between Aon companies and the independent agency/broker network.
Agency Specialty Product Network provides independent agents/brokers
ease of access to these companies that provide specialty risk coverages
and insurance services.
