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That FIPG was cobbled together in haste does not surprise me at all. At the time it went together the Greek community had reacheda point where insurers were slamming the door in our collective face. There was no way for the carriers to access risk and there were absolutely no conduct standards whatsoever.
From a carrier's standpoint it would be like insuring houses sight unseen, wherever they were and regardless of compliance with building codes. Or perhaps insuring drivers without knowledge of car type, location, or driving history.
The risk management standards that we have today flowed from FIPG. The procedures that we have concerning fire, deaths, arrests, etc. all were the result of FIPG and consultations with carriers - as well as some very hard lessons based upon tragedy.
We had to do something and FIPG seemed like the thing to do at the time. I still think that it is a valuable entity and could be more pro-active at times in dealing with things such as chapter house fire safety. I promise you that a burning chapter house is the scariest thing that comes to a chapter advisor's mind!
Without insurance we are collectively pledging our fortunes and that of our families that the undergraduates wil never make a mistake. That is too big a burden to put on the alumni and the families of the undergrads. Why do I say the alumni and families of the undergrads? Because they are the only ones with something to take. A judgment against an undergrad is worthless - try collecting on it years later...
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