[LATau]

Keep in mind the sherman antitrust act applies to all industries EXCEPT the insurance industry. I'm still baffled by why this is the case. So in the case of GMI, or any other company, price gouging is legal, but it takes a lot of spin and excuses to excuse it.

Insurance says that if claims exceed 50% of receipts its unprofitable. Excuse me, that is absurd. They are getting 100% gains annually less administrative costs (like sending the whole company to a conference in Aruba) and are whining? Also, you are paying TWICE what you would pay if you were uninsured and actives merely pooled their money into a fund.

Insurance says one thing, but if you look at the numbers, it is a different reality. Search "insurance price gouging on teh internet and see what I'm talking about."

No one really seems to care about this, they just mindlessly send their check off thinking they are somehow protected against catastrophic losses. But when problems come up, expect your insurance company to look for any way that you didnt follow their insane guidelines so they dont have to pay you.

That's how the world works when you deal with an oligopoly that behaves like a trust since it is legally allowed to.

The fact that you are legally obligated to buy this insurance as the price of your "freedom of association" a completely bogus argument. Fraternities, unfortunately have become the victims of a witch hunt, where the risk is blown up and cases that shouldnt even apply under these laws are being tried. In addition, insurance companies claim the number of lawsuits filed. But most of these lawsuits are settled for much smaller amounts, and many more are thrown out of court.

I think it would make sense if fraternity action wasn't all held as strict liability (pretty much every greek event that has pledges present and something goes wrong, even a plain accident is considered hazing by insurance companies) , and instead the courts had to go out and prove the elements of negligence are present like they do with every non greek.