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Directors and Officers Liability Insurance (D and O Insurance) - Condo Associations Quincy, MA
Directors and Officers Liability Insurance (D & O Insurance) - Condo Associations in Quincy, Mass.  
Condo associations normally purchase property, general liability, and crime insurance for their condominium association. Another type of insurance that's highly recommended is Directors and Officers Liability Insurance (D&O Insurance). D&O insurance is basically Errors and Omissions Insurance for the trustees of the Condo Association while performing duties on behalf of the condominium association. Lawsuits against the trustees can originate from either from a decision made by them or simply inaction.
The responsibility of the board of directors is to make decisions in the best interest of the condo association. We all know this is not a perfect world and all decisions will not have universal support. Therefore, some unit owners may not agree with decisions made and if they suffer financial consequence and feel wronged they could bring legal action against the Board. That's one situation of where a lawsuit can originate. D&O insurance provides the coverage or protection your association would want to have for your directors, officers, or trustees. Even if the person suing the directors, officers, or trustees is completely wrong you still want to have the defense costs paid for by your insurance. ... more

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