REWahoo! said:I'm on the board of a newly-formed homeowners association. The board was discussing the cost of D & O insurance and questioning whether or not we really needed to spend money on insurance since there were much greater needs. I told them not only did we need it, but I would not serve on the board unless we had a minimum of a $1M policy. We got it.
Please explain: What is D&O insurance? and what are some common circumstances that a HOA might be sued?
Thanks!