Is Liability Insurance for Alaska HOA Required?

Hi Lyle,

Section 34.08.440 of the Alaska Uniform Common Interest Ownership Act tackles insurance requirements for HOAs. According to this section, an HOA shall maintain, to the extent reasonably available, “liability insurance, including medical payments insurance, in an amount determined by the executive board but not less than an amount specified in the declaration, covering all occurrences commonly insured against for death, bodily injury, and property damage arising out of or in connection with the use, ownership, or maintenance of the common elements and, in cooperatives, of each unit.”