Directors and officers liability insurance: Usually called D&O insurance or E&O (errors and omissions) insurance, this is one of the most important policies for the condo association or HOA. The purpose of the D&O policy is to provide coverage in a defense (a lawyer) if a suit is brought against the condoassociation (other than for personal injury) or its condo board directors. I do not believe anyone in her right mind would serve on a condo association board or HOA board that did not have D&O coverage, and I strongly believe it should be mandated through the declaration of condominium, not a permissive decision to be made from time to time by the condo board of directors or property manager.