RESIDENTS’ ASSOCIATIONS INSURANCE

PROTECTING YOUR ASSOCIATION’S LIABILITIES

Residents’ associations are often the voice of a community and the hard work that you undertake assists the lives of hundreds, thousands and sometimes tens of thousands of people every year.

These vital roles should be protected from your financial liabilities and the many risks your associations face, however.

Risk Factor can help you do this with total clarity, letting you continue the good work you do with absolute peace of mind.

WHAT IS THE RISK FOR RESIDENTS’ ASSOCIATIONS?

Whilst associations will have specific risks relating to their geographic location, any association can fall victim to regulatory issues arising either from changes to the association or to the law.

 

Financial failure can also arise out of a single event spiralling out of control, or from damage to one or more buildings, such as in the event of a flood. This can hinder your ability to operate normally which could have lasting effects.

WHAT CAN YOU FIND COVER FOR? 

Sometimes, these issues can also cause issues surrounding health and safety. Since most associations include chairs, vice-chairs, secretaries, treasurers and other board members, such issues may default liability onto individual board members, making liability cover an imperative.

A simple event in the community or neighbourhood may seem harmless enough, but an accident caused by your board’s negligence can have severe consequences including large financial costs.

Other areas of cover include:

  • Trustee indemnity
  • Directors’ and officers’ liability
  • Regulatory change
  • Legal costs

Find out more about this type of cover by contacting our team on 03300 563 360.

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