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Bankruptcy
Most nat'l orgs have an insurance policy plus an umbrella policy. Unless things have changed within the last 12-18 months, the largest umbrella policy is $5 million (there might still be a couple with a $10 million policy).
If a fraternity loses a judgment of $6 million or more ($1 mil. liability + $5 mil. umbrella), they're in big trouble.
Fraternities are like California...just waiting for the "BIG ONE" to hit. And I hope and pray that it doesn't happen...and if it does, that it's not my fraternity.
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Industrialist
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Threaded Mode