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33,
It's not a matter of purchasing power. Some (maybe all, I'm not entirely sure) of these organizations could not get coverage AT ALL by themselves. Period. The entire group of 21 funds this enterprize. So, for all intents and purposes the group is self insured. That's why financing is so critical -- and so fragile -- they just don't have the deep pockets that an insurance company has.
As I understand the situation, an insurance company provides management services, but the financial liability is all (or at least almost all) absorbed by the fraternities.
It's a scary position to be in.
By the way, this is not new. It has been in place (and growing). If you look at some of my posts when I first joined GreekChat you will find me talking about this situation.
I learned about it first at a Division Conference about three years ago. At that time there were sixteen groups involved.
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Fraternally,
DeltAlum
DTD
The above is the opinion of the poster which may or may not be based in known facts and does not necessarily reflect the views of Delta Tau Delta or Greek Chat -- but it might.
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