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struggler said:
Am curious as to how bpositive came to have out of pocket expenses due EC decisions. Doesn't the strata insurance cover decisions made by the EC? Was always concerned when on the EC that any decision made without the proper considerations would have left me liable, but thought insurance would have handled that.
There a 4 compulsory insurance (actually only 3 but to not take out workers comp is not good risk management unless an SP is 200% sure it will not need it – and then takes it out if the situation changes).
Office Bearers liability insurance is optional; requires the AGM to pass a motion for it and may not have been in place when bpositive ran into trouble compliments of EC activity.
If an OC has an EC then insurance for the EC is not an expensive policy and to be a part of an EC without it is to invite trouble.