Quote:
Originally posted by 33girl
The point that this poster is trying to make is that HIS fraternity has not had any lawsuits and their insurance went up anyway. That's not how it's supposed to work.
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I've never had a car accident and have never visited the doctor for the 6 years that I have been on my own with these types of insurance but my rates go up every year.
The reason is what my fellow Delt brother contends. We are all inter-related. That's the reason an insurance company sells policies. We drive our cars and we read the news about the big wreck on the interstate or whatnot. For crying out loud, my girlfriend was hit twice in one week. It says that we are negligent drivers.
We have people who intentionally smoke. While they are paying somewhat higher rates than I, I am also supplementing for their "addiction."
The same goes for greek organizations, social clubs (masons, Moose, Elk). Some chapters are clean, some are bad. But the point is that we are all inter-related.
Insurance companies, or anyone for that matter, would not provide coverage to a single person by themselves if they were not responsible in everything they do. If an insurance company were to provide coverage to just me, then they would go under, because the time I am sued for malpractice for $200,000 and I have only put $15,000 in the pot, the insurance company goes under.
The more people who are under a policy the cheaper it is for all of us. Yes, I know that sounds socialistic, but it kind of is. But when you take that into account, you let in some low lifes who make poor decisions and we have to pay for it a little.
But there will come a time where something bad happens to your chapter and you will be glad that there is that insurance to protect you. Whether you are a chapter member or an alumnus advisor, you are liable if something bad happens.
LATau, not to be critical, but you had said something earlier about holding chapters as individual entities and that is something happened, the local chapter could file for bankruptcy, the national organization would get off scot-free. How would you feel if your best friend was killed while in the fraternity house and all his family got was a $500,000 check from the bankruptcy of the house or from the home-owners insurance? (What if the chapter didn't have a house? Chapter funds are like $30,000. Would you be happy that your best friend lost his life for $30,000 and now no other men would be able to go through the proper growth of living in a real fraternity).