Directors and officers (D&O) insurance policies protect directors and officers from claims that they failed to act or acted wrongfully in their individual or group capacity on behalf of the association. As an HOA board member, you should make certain that your association has such a policy and you should pay close attention to what the policy covers.

For more information on D&O insurance, and four rules to follow to make sure you're personally covered, see our article, HOA Board Members: Ensure that You're Personally Insured.