Directors' & Officers' Liability
Third Party Discrimination Coverage
Wrongful Personal Injury definition includes non-EPL discrimination
Wrongful Acts
Broad definition of Wrongful Acts including Wrongful Employment Practices, Wrongful Personal Injury (including Third-Party discrimination) and Publisher's Wrongful Act.
Breach of Contract
Full-Limit Defense for third party breach of contract claims.
Defense Costs
In addition to the limit of liability, coverage includes reasonable and necessary fees, costs and expenses, such as Investigation, Adjustment, Defense, and Appeal.
Claim
Expansive definition of Claim including (1) civil, criminal, or administrative adjudicatory proceeding; (2) a written demand for monetary damages or nonmonetary relief; or (3) an Equal Employment Opportunity Commission proceeding or any state, local or territorial equivalent.
Loss
Loss means "Damages, Settlements and Defense Costs" and includes pre- and post-judgment interest. Loss also includes punitive, exemplary or multiple damages, if insurable, to the fullest extent permitted by any applicable law.
Spouses
Spousal coverage expressly included.
Developers
Coverage for developers on the association board in their capacity as board members, with coverage for acts during board membership continuingafter departure from the board.
Prior Acts
Full prior acts coverage, subject to policy terms and conditions.
Prior and Pending Litigation
Prior and Pending Litigation date considered with proof of expiring coverage.
Insured
Insured means the Named Entity (community association), qualified subsidiaries and Insured Persons. Insured Persons includes all past, present and future elected or appointed directors, trustees, officers, employees, committee members or volunteers of the community association, including their estates, heirs, legal representatives or assigns.
Property Manager (included for no additional premium)
Property Manager coverage available for both (1) acts as a propertymanager for the community association and (2) where sued vicariously for the acts of the association board.
Non-Profit Covered Associations
Condominiums, Property Owners Associations, Homeowners Associations,Commercial Associations, Timeshares, Master Associations, Cooperatives Planned Urban Developments.
Legal Defense Provided
Under the policy's duty to defend provision, an attorney experienced professional liability will represent you, with legal costs above the retention covered up to the limits of liability you select. All coveredclaims, whether warranted or groundless, will be defended.
Extended Reporting Period
Extended Reporting Period available for purchase at 100% of the annual premium for 12 months, and can be purchased up to 30 days post expiration. (Subject to state requirements)
Severability
Profiting, fraud, or criminal acts of one Individual Insured will not be imputed to another to preclude coverage. Further, the failure by one Insured to disclose in the application facts and circumstances which may give rise to a future claim will not be imputed to another insured to preclude coverage.
Failure to Obtain or Maintain Insurance
Defense of Claims for failure to obtain or maintain adequate insurance.
Deductible Waived for Financial Insolvency
Final Adjudication Language with regard to fraudulent or criminal Wrongful Acts*
Crime & Fidelity Policy
Employee Theft
Coverage includes Employee Theft coverage with limits available to $5,000,000
Non-Compensated Directors and Officers
The policy covers non-compensated directors and officers, including Property Manager
Automatic Sub-Limits
The policy provides automatic sub limits for (1) Forgery and Alteration; (2) Theft, Destruction and Disappearance (premises and transit); and, (3) Computer Fraud and Wire Transfer.
Rateable Employees
For the purpose of calculating premium, rateable employees only include those employees authorized to handle association funds.
Welfare and Pension Plan(ERISA)
Welfare and Pension Plan Coverage included at no additional cost.
*Not available in New York.
Exceptional Service and Claims Handling
Exclusive National Program Administrator
IHG is the exclusive national program administrator.
Policy Issuance
IHG issues all policies and endorsements in house to ensure speed and accuracy.
Automatic Renewal Process
Renewals have never been easier with our automatic renewal process. Renewal policies are sent to you 90 days prior to your renewal date.
Claims Service
CNA's ability to manage claims in cooperation with our clients results in the expeditious and satisfactory resolution of claims.
Risk Management
Risk Management Professionals regularly develop risk managementmaterials for insureds and are available to provide insured with guidance in particular issues.
Policy Development
IHG and CNA are committed to continued policy development to respond to the needs and wants of the non-profit community association marketplace.
Continental Casualty Company, a CNA Member Company
Rated A (Excellent) XV by A.M. Best.
Endorsed by the Community Associations Institute
The information contained in this document is for general information only. It is intended to provide a general overview of the services and products offered. Only the policycan provide the actual terms, coverages, amounts, conditions and exclusions. All coverages are not available in all states. This document is not intended to be advertising or solicitation in states where the local regulations prohibit such usage.