Thread: Insurance
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Old 07-22-2005, 10:24 PM
33girl 33girl is offline
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Quote:
Originally posted by DeltAlum
You're partially right.

The real reason for FIPG, though, is so fraternities can get insurance, period.

Most insurers won't touch us.

The reason for skyrocketing rates is skyrocketing claims.

See the rest of this forum for details.
The rest of this forum has nothing to do with price gouging, if that's indeed what is happening here. That's illegal and FIPG should not be allowing it to happen - as I'm sure they make a profit from their services as well. And if they're not getting the best deal possible for the groups or steering them to a certain insurer they can get in a hell of a lot of trouble. They say they're only for the purpose of "providing info on risk management issues" (quoted from their website) but if GMI is indeed the only option they offer - they've gone past being info providers and become brokers and they are subject to all the same regulations other insurance brokers have. I don't care if they're insuring fraternities, doctors, actors, whatever. You have to market your groups on a regular basis.

Rates have gone up but there is also an experience factor - i.e. if you don't have any claims (your fraternity nationally that is) your rates should go down. XYZ that had 20 guys sue their national for hazing shoudn't be paying the same as ABC whose chapters have all kept their noses clean and had no problems.
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