Condominium and other Homeowner Association, no matter what type, need Director & Officer Liability coverage. Unfortunately not all policies are created equal and not all boards feel coverage is necessary.
With the launch of ISO's first significant revision to the CGL program in six years,provisions affecting Additional Insureds in both the standard CGL and AI endorsements may be the most crucial for agents and insureds to understand.
Your insureds, the NFIP, ISO, AAIS and DIC policies each define “Flood” differently. What your insured considers a “flood” may simply be considered water damage in insurance language. But even ISO and AAIS manage “water damage” loss differently.
Risk management is a process combining methods for reducing or avoiding an undesirable event with sources for covering the adverse financial losses that result from the occurrence of the undesired event.