What could go wrong?

• A director could be held liable because the value of a co-lessee's flat had fallen due to the knock-on effects of a failure to identify and rectify external dilapidation.
• A lessee might hold a director responsible for the poor workmanship of contractors paid for out of the service charge budget.
• A third party might sue as the result of a defamatory remark inadvertently made by someone in the capacity of director.
• It could prove difficult or even impossible to recruit suitably skilled and experienced people as directors of a residents' management company because they are unwilling to accept the potential personal liability.

Cover is provided for breach of duty, trust or contract, neglectful, misleading statement, wrongful trading or wrongful acts or omissions.

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