Guys, the question that you may wish to ask yourselves, ‘if I were a director of a company, and could be sued for a decision I did or didn’t make, would I prefer to be appropriately insured’
The Executive Committee should be considered to be much like a board of directors.
I have witnessed Executive Committee Members being sued personally and collectively for decisions that they have made, despite legal advice to suggest not to, while the decision was not illegal. The individual EC members legal expenses were covered by the OB cover of the owners corporation.
The big issue that I am exposed to is where the EC don’t engage with or consult their strata managers, being professional, trained strata managers, that either have proper answers for their clients and or access to appropriate resources or consultants (lawyers, engineers etc). Most Strata Managers that are worth their salt are more than happy to provide good sound advice or encourage obtaining the needed information.