Earthquake Insurance for Associations
Our company recommends the purchase of earthquake insurance. While most boards have the authority to decide whether to purchase earthquake insurance, it is wise for boards who have such authority to permit the overall membership an opportunity to vote on this important issue unless the board decides to acquire such coverage. If a board is opposed to obtaining earthquake insurance coverage, they should always permit the overall membership to vote on the matter in order to minimize their personal liability. Such liability can result from an earthquake that results in damages.
It is important to be aware that some Directors and Officers Liability Insurance Policies (Errors and Omissions Coverage) do not cover directors and officers for their failure to obtain correct or adequate insurance coverage.
The results of any vote taken concerning the issue of whether to purchase earthquake coverage should be noted in the minutes.
Earthquake Safety Precautions
Following are several suggestions for earthquake safety:
• As soon as you detect an earthquake, take personal possession of your emergency preparedness supply kit and keep it nearby.
• Get under a desk or sturdy table if you are indoors away from any windows. Even safety glass may shatter and cause injuries.
• Never stand under or near anything that can easily fall on you such as a bookcase or large cabinet.
• If you are in bed, cover your head and neck with pillows.
• Stay inside if you are at home. Don't go outside and don't get on the roads.
• If you are outside, stay outside away from buildings that could collapse. Stay in an open area if possible.
• Do not go into elevators. Take the stairs if needed.
• If you are driving, pull over to a large open space that is not beneath power lines or trees. Stay in the vehicle until everything settles down.
Coast Management of California
818-991-1500