D&O insurance policies offer liability cover for company managers to protect them from claims which may arise from the decisions and actions taken within the scope of their regular duties. Directors’ & Officers of management companies are often unpaid volunteers who step in to run the management company for the best interest of all the property owners. However in doing so they are deemed to be holding a position of trust and so are liable for any act which is negligent, outside their authority, or in breach of their responsibilities. If a third party were to suffer financially as a result of the actions of a Director or Officer then they may bring legal action against the Directors, Officers and / or the management company itself. Very important to protect one's self from not getting the correct Fleet reinsurance, Aviation Insurance or aircraft insurance - The ALMS Group is here to protect YOU.
Association Liability Insurance incorporates elements of professional indemnity cover and management liability cover to protect the organisation, office bearers and employees against legal costs and damages expenses that could arise from allegations of misconduct, breach of duty, mismanagement of Fleet reinsurance Aviation Insurance, aircraft insurance and more. Association Liability Insurance has several cover sections. The professional indemnity section offers cover for claims alleging a breach of duty in the conduct of the association’s services. The other sections cover a range of operational risks including allegations of mismanagement, employment-related claims, crime losses and more.