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Protecting the interests of property managers and boards when we can't all get along.

At Barber Agency, we work with a wide spectrum of property managers and the boards they represent. While things often run smoothly in their communities, we’ve found that sometimes they don’t, and that’s where directors & officers (D&O) and professional liability policies can be real lifesavers. When disputes arise between neighbors and compromises leave people unhappy, many are turning to litigation against the people who represent community association boards and their property managers. We can help protect your interests.

D&O and Professional Liability Insurance

Why do boards need Directors and Officers (D&O) insurance coverage?

  • Community Associations are sued by their employees, committee members and volunteers
  • Over 60% of the claims against these associations are related to non-monetary issues.
  • Community Associations have an annual budget that is often less than the average cost to defend a claim closed by litigation.
  • Single Dwelling Homeowner Associations require General Liability and Property Coverage for common areas.
  • Many Condominium and Homeowner Associations are looking for additional liability limits offered through our Umbrella policy.

Directors & Officers (D&O) Coverage Features

  • Manager/Management Company named as an Additional Insured
  • Defense Outside the Limit of Liability
  • Non-monetary and Breach of Contract Coverage offered under Directors & Officers Liability
  • No exclusion for libel, slander, or defamation under Directors & Officers Liability
  • Mental Anguish and Emotional Distress included in the General Liability definition of Bodily Injury
  • No General Liability deductible
  • Property with an Outdoor Enhancement Endorsement
  • Umbrella Policy excess of General Liability, Hired & Non-owned Auto and Directors and Officers Liability

Directors & Officers (D&O) Product Advantages

  • Community Association Professional Liability
    - Employment Practices Liability coverage provided for no additional premium for associations with 10 or fewer employees
    - Defense costs outside the limit of liability
    - Lifetime Occurrence Reporting Provision for former Directors and Officers
    - Non-monetary and Breach of Contract coverage
    - Automatic Additional Insured Coverage for the Property Manager
    - Punitive Damages, where insurable by law, included automatically
    - Duty to defend
  • Package Policy
    - One policy with separate limits of liability for each coverage part
    - General Liability on an occurrence form
    - Property on Special Form with Outdoor Enhancement Endorsements
    - Hired and Non-owned Auto (where available)
  • Umbrella Policy
    - Excess General Liability, Hired and Non-owned Auto and Directors & Officers

Why do property managers need Professional Liability insurance coverage?

  • Increased litigation within our country is holding all professionals accountable for errors.
  • The number of Tenant Discrimination claims is on the rise! A large percentage of this litigation is being driven by HUD and consumer interest groups. Property managers are susceptible to this type of claim.
  • Courts have held property managers with an equity interest in a property to a higher standard of care.
  • There has been an increase in the number of employment-related claims against property managers. Property managers are not only being sued by their own employees, but also by superintendents and maintenance staff employed by the owner of the complex, whom the manager oversees.
  • Property Managers are commonly added as an Additional Insured on the General Liability policy of the owner of the property being managed. This covers the property manager for the exposures at their own office.

Professional Liability Coverage Features

  • Optional Tenant Discrimination coverage including both Damages and Defense
  • Optional Employment Practices Liability coverage designed for the needs of Property Managers. Coverage provided for individuals they manage who are employed by the owner of the building/complex (i.e. superintendent or maintenance staff)
  • Separate Limits for each Coverage Part
  • Optional Premises Preferred Package available for the Property Manager’s office that includes General Liability written on an Occurrence Form with optional Property Coverage on a Special Form
  • Automatic Wrongful Eviction Coverage provided for the management of Residential Property
  • Optional Personal Injury Coverage available for 10% additional premium
  • Optional coverage available for Real Estate and Appraisal Exposures
  • Additional Insured status automatically provided for any entity for whom the Named Insured has agreed to provide Professional Services
  • Defense Costs outside the Limit for Coverage Part A, Errors and Omissions and Coverage Part C Employment Practices Liability (if $500,000 or $1,000,000 limits are purchased)

Professional Liability Product Advantages

  • Coverage specifically tailored for property managers, not written on a miscellaneous form
  • Three coverage parts with separate Limits of Liability:
    - Errors & Omissions
    - Defense outside the limit
    - Tenant Discrimination coverage (optional)
    - Defense and Loss within the limit
    - Employment Practices Liability coverage (optional)
    - Defense outside the limit (if $500,000 or $1,000,000 limits are purchased)
    - Optional coverage extended to managed individuals employed by the owner of the building or complex
  • Full Prior Acts coverage available
  • Coverage available for real estate transactions and/or appraisal services in most states
  • Wrongful Eviction coverage automatically provided for residential properties
  • Full Personal Injury coverage included at no additional premium.
  • Coverage available for the management of Insured’s personally owned properties
  • Optional Premises Preferred Package policy with general liability and business personal property on special form (property not available in HI)