ADJUSTERSINTERNATIONAL.COM 9 Personal liability insurance is required under master agreements to protect the interests of the community and its residents, and by mortgage lenders who want to avoid having their collateral encumbered by liability judgements. Landlord’s legal liability covered under a commercial general liability (CGL) policy. Tenant’s personal liability covered under a renters policy, if present. Not applicable to landlord. Tenant’s personal liability covered under a renters policy. Landlord’s legal liability covered under a standard CGL policy. Personal injury not covered under typical renters policy, but may be available by endorsement. Not applicable to tenants. Property manager liability to building owners is covered under professional liability insurance. Liability of officers and directors of rental companies to shareholders is covered under directors and officers (“D&O”) policies. Landlord-Tenant Liability for damage to structure Liability for bodily injury to residents and third parties (e.g., guests) Personal injury to resident (e.g., invasion of privacy) Management and professional liability Association’s or co-op’s legal liability covered under a standard CGL policy. Personal injury not covered under typical unit-owners policy, but may be available by endorsement. Not applicable to unit-owners or members in their capacity as individual owner-residents. Managerial liability of association or co-op board members is excluded under CGL policies and covered under association directors and officers (“D&O”) policies. Professional liability of property managers hired to operate and maintain communities is insured under their own professional liability policies. Liability and Insurance for Multi-Unit Housing Condominium Community Cooperative Community Generally not applicable to a condo association, but it could be liable under certain terms for damage to permanent property of unit-owners in dwelling units. In that case, coverage would generally be available under a CGL policy. A unit-owner’s personal liability is covered under a unit-owners policy. Association’s or co-op’s legal liability covered under a commercial general liability (CGL) policy. Unit-owner’s or resident member’s personal liability covered within a unit-owners policy. Generally not applicable to co-op corporations. Unit-owner’s or resident member’s personal liability covered under a unit-owners policy.
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