An Errors and Omissions insurance policy is specifically designed for board members and administrators of homeowner’s associations in Mexico to cover the damages they could make to third parties, mainly against homeowners which may cause them to take action against their board members.

Knowing how to create a policy for an HOA is important for the care and security of your condos assets. Management of condominium regulations and understanding the risks involved with insurance needs, financing, operating accounts and emergency funds, can be an overwhelming task. Approaching a HOA expert can help you turn this exercise into a positive learning experience.

If you own a property that is within a condominium regime, that is, in a homeowner’s association, it is very likely that you have been invited – or will be invited – to join the board of directors.