Quote:
Originally posted by madmax
What is the monetary benefit of following risk management rules? Are national orgs going to cut your rates? I doubt it. The chaters that follow the policies and the chapters that don't follow the policies both have high rates. Look at the post a couple down about LXA at ASU. They were sued after a student left their party and the student was hit by a drunk driver. Having a large insurance policy just paints a bullseye on your back for the lawyers.
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Well, how do you suppose those rates got that high? It's because chapters don't practice risk management.
I don't know if your fraternity would pass the savings along, but mine certainly would. We would benefit much more by having a bigger membership. We lose a lot of great people because they can't afford to join.
In the ASU case, it's really not too much different than a bar being sued for serving someone who causes an accident. Happens all the time.
As for the bullseye -- you paint one right on your a$$ if you don't have the policy, because you can ruin the rest of your life if you lose a legal action and don't have coverage.
And, by the way, the reason insurance is so expensive for even the good chapters is because the Nationals average it out. If that didn't happen, the bad chapters bill would be so high they couldn't exist.
Wake up, Max. It isn't an insurance industry problem we're dealing with here -- it's people who are too dumb to realize the consequences. The ones who keep breaking the rules and driving the rates up because of the growing number of claims.
It's like your car insurance. When you get a ticket or have an at fault accident, your costs skyrocket. You just have to realize where the blame belongs. If we didn't break things, and haze pledges and kill people, our insurance wouldn't be a problem.