Tenants and Residents Association Insurance
Residents association insurances have some critical facets which your management committee should consider.
Firstly, in the activities of the group itself, it is worth considering public liability insurance for resident association activities. If your group organises social events such as barbecues, there is a risk that a member of the public is injured and seeks financial compensation from the group.
Of course, this would be an unfortunate and rare event and insurance for tenants and residents associations are normally very modest, unless the sheer size of the group, or the activities of the association are unusual.
AS well as the liability aspect of the groups activities, as important are the personal exposures that come with running such a group. If you are one of the many people who generously donate their time to a tenants and residents association, you may be conscious of the potential exposures these responsibilities have for you. These responsibilities apply if you are descried either as a committee member, trustee, officer or director.
Trustee indemnity for residents associations is an insurance cover that can provide some financial protection for your group. It could help protect the group and the individual members in the event of a wrongful act (or alleged act) or omission by any individual member of the management committee, to the committee as a whole.
Contact us today to discuss your resident association insurance needs and we can discuss the relevance of the covers available to your group.