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Carrier |
Rated A++/ IX by AM Best, Admitted Paper. |
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Limits of Liability |
GL: $1,000,000 Per Occurrence / $2,000,000 Aggregate
Prop: Up to $750,000 TIV
D&O: $1,000,000 to $5,000,000 |
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SIR |
$2,500 - $5,000 (D&O) |
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Minimum Premiums |
GL: $500.00
Prop: $200.00
D&O: $918.00 |
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Eligible entities |
Single Dwelling Homeowners Associations that meet D&O eligibility requirements |
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Requirements |
Completed application |
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Compensation |
Premiums are quoted net to broker |
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Included Coverage |
Automatic coverage for the Property Manager |
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Employment Practices Liability automatically included if less than 10 employees |
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Non-monetary damages are included (Not available in CA) |
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Full prior acts coverage |
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Explicit coverage for employment practices, including but not limited to wrongful termination, sexual harassment, and employee discrimination |
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Unlimited reporting period for former Directors & Officers |
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Fiduciary liability coverage can be purchased for an additional premium |
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Third party sexual harassment and discrimination coverage |
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Other Benefits |
Defense costs are outside the limits of liability |
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Policy issuance within a week of binding |
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Company has "Duty to Defend" / Pay on behalf policy language |
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Broad definition of wrongful act |
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No libel, slander, or defamation exclusion |
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Inexpensive extended reporting period |
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Notable Restrictions And Exclusions |
Builder developer exclusion endorsement applies. |
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Ineligible Risks (D&O) |
Any applicant that does not have at least 70% of its units sold. |
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Any applicant that has builder, developer, or agent representation on the board. |
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Cooperatives and Timeshare Associations. |
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Associations that have an average unit value that exceeds $1,000,000. |
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General Information |
For other coverage and exclusions, please see our application and policy forms; the policy is the controlling instrument. |
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Rate indications provided are subject to completed applications. Quotes are not provided without thoroughly completed applications. |