A board member can be held personally liable if they are found to have engaged in a wrongful act or an infringement of a right that leads to civil legal liability. Be cognizant of potential issues of libel, slander, and discrimination.
Ensure the policy meets the limits set forth in the governing documents. Confirm that your policy covers past, present, and future directors and officers; their spouses; committee members and volunteers; building employees; and your managing agent and property management firm.
Use email for administrative matters such as setting dates for meetings. Don’t let emails become a source of discoverable information. When an issue begins to go awry, cease emailing and consult your managing agent on how to proceed.
Board members should discuss their insurance needs with their broker or agent to ensure they have adequate coverage for themselves and their association.