Chubb Breaks New Ground With Community Group Cover. (Property/Casualty).The Chubb Group of Insurance Cos. now offers Protection for Community Association Leaders, a policy designed to meet the unique coverage needs of community organizations. "Community association boards and property managers are frequently caught in the middle of complicated and emotional disputes between neighbors," said Leo Leo, in astronomy Leo [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac. Lemmelin, vice president and underwriting manager at Chubb. "In these disputes, compromise often doesn't work, and so they often look to the courts to settle these issues. As in society in general, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. against community association boards and their property managers is on the rise," Lemmelin said. Lemmelin said these boards and their property managers can be sued from all sides--by association members, employees, regulators, volunteers and individual board members--for a variety of issues, including mismanagement mis·man·age tr.v. mis·man·aged, mis·man·ag·ing, mis·man·ag·es To manage badly or carelessly. mis·man  age·ment n. ; conflict of interest; housing discrimination; breach of contract; acts beyond authority granted by covenants, conditions, and restrictions; and violation of certain federal and state laws. Furthermore, community associations can be victimized by employees or insiders who may commit crimes such as theft, forgery or fraud. The policy's directors and officers coverage insures board members against having to pay compensatory damages A sum of money awarded in a civil action by a court to indemnify a person for the particular loss, detriment, or injury suffered as a result of the unlawful conduct of another. out-of-pocket, attorney fees and other legal costs associated with lawsuits. Included under the D&O coverage is employment-practices liability coverage protecting board members and the association against settlements and damages resulting from charges of discrimination, sexual harassment sexual harassment, in law, verbal or physical behavior of a sexual nature, aimed at a particular person or group of people, especially in the workplace or in academic or other institutional settings, that is actionable, as in tort or under equal-opportunity statutes. and wrongful termination wrongful termination n. a right of an employee to sue his/her employer for damages (loss of wage and "fringe" benefits, and, if against "public policy," for punitive damages). . The policy also offers coverage for certain claims against directors and officers that may arise in connection with property damage, as well as coverage for property managers who are named in suits brought against community association boards. |
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