risk management insurance

[mariposa5]

just wondering if orgs use for their risk management insurance and if your local or national org. thanks!

[Tom Earp]

Please rewrite your question.

[Kevin]

I'm not sure I completely understand the question, but I read the OP as asking:

a) Whether our organizations have liability insurance (risk management is generally what you do to keep insurance costs down, but it isn't the name of any type of insurance I'm aware of); and

b) Whether our organizations are national or local.

[Tom Earp]

Originally Posted by Kevin

I'm not sure I completely understand the question, but I read the OP as asking:

a) Whether our organizations have liability insurance (risk management is generally what you do to keep insurance costs down, but it isn't the name of any type of insurance I'm aware of); and

b) Whether our organizations are national or local.

LOL, I still and not sure, but to try to add to your interpretation Kevin:

1. Risk managent (Lloyds in the case of LXA and many GLOs) is to cover Major R M as in Law Suits that may come up from hazing or deaths from hazing. Keeping cost down via R M insurance depends on any claims against the company!

2. Being a local with a single chapter is almost impossible to get this type of insurance with out being so high that you cannot afford it.

So, do not haze!

[OmegaPDPrez]

Is R M insurance absolutely necessary?

[Drolefille]

Originally Posted by OmegaPDPrez

Is R M insurance absolutely necessary?

Think of it this way. Lets say, someone of legal age drinks at one of your parties. S/he goes home on the bus (per the rules) but then goes to a bar and drinks even more. After that s/he gets in his/her car and drives into a pole.

Even though you followed all of the rules, you organization can still be held liable. IF you don't have insurance, your president and any members also deemed liable can lose their house, and everything they own. We were also told that our president's parents could face the same consequences. (Particularly since college students are still dependents). Your chapter will be shut down.

And that's in a situation where no one in the chapter actually did anything wrong.

It is much better to have the insurance and never need it, than to need it and not have it.

[Tom Earp]

Originally Posted by Drolefille

Think of it this way. Lets say, someone of legal age drinks at one of your parties. S/he goes home on the bus (per the rules) but then goes to a bar and drinks even more. After that s/he gets in his/her car and drives into a pole.

Even though you followed all of the rules, you organization can still be held liable. IF you don't have insurance, your president and any members also deemed liable can lose their house, and everything they own. We were also told that our president's parents could face the same consequences. (Particularly since college students are still dependents). Your chapter will be shut down.

And that's in a situation where no one in the chapter actually did anything wrong.

It is much better to have the insurance and never need it, than to need it and not have it.

It is a good point as you stated, but as a small local or National of smaller conferences it is very hard to get.

I think most Big GLOs probably use Lloyds.

Drolefile, I am not sure about your last analogy of doing proper things and the person left the party and then getting into an accident?

It would really be interesting on getting a true legal oppinion on this point.

It could be a help to all of us.