FirstService Residential Hosts Symposium to Educate Board Members on Directors & Officers Liability Insurance
NEW YORK, NY – FirstService Residential, New York’s leading property management company, hosted a symposium on November 16, 2017 during which a panel of legal and insurance industry experts advised cooperative and condominium board members on ways to minimize their liability exposure.
The event, “Protecting Your Assets: A Primer on Directors & Officers (D&O) Liability Insurance,” covered the gamut of claims that can adversely impact board members – from housing and employment discrimination complaints, contractual disputes and wrongful termination, to breach of fiduciary duty, harassment, negligence and misuse of funds.
“D&O liability claims can come with substantial financial consequences and, in some instances, personal liability,” said Dan Wurtzel, president, FirstService Residential New York, who moderated the discussion. “We held this event to help educate our board members on the conduct they can and should exhibit that will minimize or avoid any allegations of wrongful conduct and lawsuits when acting in their capacity as a board member.”
High demand for similar events produced by the company earlier this year prompted this additional session – this time with a different variation of subject matter experts. Panelists included Robert J. Braverman, Esq., managing partner, Braverman Greenspun, one of the city’s leading law firms representing cooperatives and condominiums; Sean Kent, senior vice president, FS Insurance Brokers, a licensed insurance brokerage and subsidiary of FirstService Residential; Joel Meskin, Esq., vice president, insurance and risk management, McGowan Program Administrators, America’s leading writer of innovative insurance programs; and Aisling Jumper, Esq. vice president, YorkPro, Inc., the professional liability subsidiary of York Risk Services Group.
To optimize this experience, attendees were given the opportunity to submit questions in advance, which were directly responded to by panelists. The panel also took questions from the audience.
for a summary of “Best Practices for Avoiding a D&O Claim.”
FirstService Residential’s next educational event will take place on January 25, 2018, and will focus on the upcoming labor negotiations between the Realty Advisory Board on Labor Relations (RAB) and the Building Service Workers Union 32BJ.
Board members and building owners will hear directly from RAB President Howard Rothschild, who will represent owners in the negotiations. If an agreement is not reach by April 20, 2018, when the current contract expires, it would have enormous implications for owners and residents throughout the city.
The panel included (from left): Joel W. Meskin, Esq., VP, Association Insurance and Risk Management, McGowan Program Administrators; Aisling Jumper, Esq. VP, YorkPro, Inc.; Dan Wurtzel, President, FirstService Residential, who served as moderator; Robert J. Braverman, Esq., Managing Partner, Braverman Greenspun; and Sean Kent, SVP, FS Insurance Brokers.