Our bylaws state the association is supposed to have all risk perils insurance on common areas, I got a copy of policy and it says " special perils or named association risk only". The board members never replied to email asking if all risk and special-named risk was the same. The express who resigned replied and said its consistent with other HOA's. Change in material notices have not been disclosed by board as required.
The bylaws say the board is to have officer and board liability insurance, it seems like they have that and other policies to protect them but shorting owners on property insurance?
The board has employee dishonesty, business owners coverage, employment related practices. Failure to disclose records, directors and officers liability, business protector plus endorsement. We were told the insurance premium increased due to lowering hail deductible from $10 to $5k but policy still says $10k hail per building, 8- 4 plexus and special event coverage by deductible amounts?
Any insight would be appreciated.
North Dakota