Liability Insurance for Board Members
I should like to know what insurance I can purchase that will protect me against charges/lawsuits when I am a member of the board of directors of a townhouse association, or when I am the trustee of a trust. Does such insurance protect me against legal costs incurred in my defence?
If you are a member of a board, the townhouse association should be purchasing liability insurance for you. I would think that the same applies to being a trustee. Such insurance for these kinds of positions is designed both to protect members in case of lawsuit and in cases of errors or omissions, depending on the policy.