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Understanding the Fiduciary Duties and Liabilities of Association Board Members

Understanding the Fiduciary Duties and Liabilities of Association Board Members

The daily operation – the business – of most planned housing developments is managed by a community association or homeowners association (HOA). Most such associations have a board of directors who oversee the management and maintenance of communities on behalf of their member residents. Association board members have certain obligations and duties, including fiduciary duties. Failure to meet these obligations can result in significant liabilities that may threaten the community association itself. U.S. Risk Underwriters, a leading provider of insurance solutions to community associations across the United States, knows that board members must have a clear understanding of their roles and responsibilities when it comes to managing association assets. 

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Personal Injuries on Community Association Property: When is the Association Liable?

Personal Injuries on Community Association Property: When is the Association Liable?

In neighborhoods and community developments across the country, homeowners associations (HOAs) are tasked with maintaining neighborhood standards. These organizations may also maintain and hold jurisdiction over common areas such as walkways, streets, and amenities like playgrounds or recreation areas. The issue of liability has caused many community associations to question who is liable if someone is injured on the property, particularly visitors or other non-resident entities. Leading specialty insurers like U.S. Risk Underwriters have helped community organizations protect their assets and members from the losses associated with personal injuries; insurance is the foundation of any risk management strategy for HOAs and similar organizations.

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The Legal Obligations of a Community Association

The Legal Obligations of a Community Association

Community associations, typically known as homeowners associations or HOAs, play a vital role in home ownership. Originally developed to help preserve neighborhood continuity and real estate value, today’s community associations are tasked with myriad duties. As a contractually- or statute-obligated organization, a community association is faced with significant legal rights, rules, and responsibilities. U.S. Risk Underwriters, a leading provider of customized insurance solutions for these organizations, knows that community associations must protect themselves and their assets against potential legal claims.

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