Legal Question in Real Estate Law in Florida
Directors and Officers/Errors and Ommissions
Our homeowners association is in violation of several corporate laws; unappropriated spending, improper record keeping, making decisions in direct conflict with our by-laws, etc. I cannot afford to hire a lawyer to take them to court. The state statutes and the local laws are created without a policing ability. My question is: Can I file an insurance claim under D&O/E&O and if I can how would I proceed?
1 Answer from Attorneys
Re: Directors and Officers/Errors and Ommissions
The smart aleck answer is that anyone can claim anything.
Just write to the insurance company. However, I
doubt that will do any good.
The procedures for filing claims under insurance policies
are usually contained in the policies themselves.
I believe, however, you will find that you do not
have a right to file a claim. D&O/E&O policies
are usually written to insure the directors. They
would have to make a claim. I would not expect them
to do so unless they were sued or threatened with suit.
Though you may not be able to afford an attorney,
you may find one who would take the case on a contingency
basis. I strongly suggest you seek the advice of
an attorney.