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No, but this insurance covers legal fees.

How Does D&O Insurance Work


How does Directors & Officers Insurance work:

D & O Insurance is very much like car insurance (liability coverage only). If you are a good driver and you are lucky enough that your car would never get hit by others, you would never get the chance to use the insurance. Board of Directors cannot use it to hire lawyers to fight a lawsuit. But, if BOD lose in the lawsuit, D&O insurance will pay for the damage.

Sal: about Class-action Lawsuit


Sal,

I need to modify your first sentence. Directors of Board have known me for some time because I have complained about that piece of weedy, raw land, dead tree and over charged association fee many, many times. I started threatening to file class-action lawsuit against them only about couple months ago, not years. The ONLY reason I wanted to file lawsuit against the board was because I was being denied of access to our financial documents.

Lisa

Our governing documents protect your right to view all books, records and papers of the association at anytime during normal working hours. That goes for the last 15 years, since the association began.

I know of others that were denied this information, myself included. For how long were you denied access to our financial documents? Who told you no?