Insurance

[Sankofa96]

I am part of a young organization that is looking to find out more information about what kind of insurance people have and how much it cost. If any of you also know where we can get more information about insurance for GLO we would truely appreciate it.

[DeltAlum]

Sankofa,

You've brought up a really depressing subject -- particularly for a fraternity. It's much better for sororities.

I would suggest that you check with another GLO on you campus, one of their central offices or one of the national goverening bodies for Greek Letter Organizations.

Good luck,

[Tom Earp]

DeltaAlum is rite on again! The reason insurance cost are so high for Greek Organizations if because of Risk Insurance! This cost each chapter of a national organization money in case of law suits for something that happens to an individual of an organization!

That is why it is tougher on Locals unless they are straight arrow!

The cost are putting even National orgaizations to the money stretching point!

Because of a fire at Mo. U at the SX house that killed one of their Brothers the family sued the chapter, the National, and the University! He had built an enclosed area around his bed that was elevated and could not get out!

That made it everyones fault but his so they sued everyone!

If I screw up it is my fault not everyone elses!

It is sue happy kind of society and the Greek Organizations take the Brunt because of moronic and stupid things that are done!

[Sankofa96]

I just wanted to say thank you for the information. Do you have any suggestion about the best way to go about getting info on insurance for our organization. Any info on prices. Thanks again.

[Tom Earp]

Insurance for your Group,no but on property yes. Insurance companies do insurance on tangable items not intangables! The Greek Organizations get insurance because of the multitude of chapters. Many went through Lloyds Of London as they always streached the edge of the rubber band! But they damn near went belly up because of bad hits they were taking and bad investments!

[CrucialCrimson]

It depends on what you are looking for - have you tried just going to an agent and explaing the type of coverage you need? (general liability, auto, property) The fact that you are a GLO may not matter if they can get a policy for a community organization underwritten. DST chapters are encouraged to get coverage for any event open to the public. We are able to get coverage for events through our national carrier or we can go to a local agent - for example we were quoted $300 for a policy we needed to get for a walkathon (the park required it) but a local agent got us coverage for $120. We also get coverage for the program we do with teens because we needed it for a grant we received-that policy was for GL and auto and I think it costs about $500 a year, we got that on our own too - the agent didn't make much of the fact that we were a sorority, but that could be because we were getting coverage for specific things.

[Sankofa96]

Thank you for your help CrucialCrimson that is the kind of info I was looking for.