166 th Ekklesia Housing Conference Risk Management and Insurance

Risk Management Policy Basics Don’t Break the Law – Don’t serve to minors No Chapter Purchase or Bulk Quantities of Alcohol No Open Parties No alcohol in recruitment or pledge education No Illegal Drugs in the Chapter House No Co-Sponsorship with Distributors The Fraternity will not tolerate or condone any form of sexist or sexually abusive behavior The employment or use of strippers, exotic dancers or similar is prohibited The construction and/or use of water features, towers, rope bridges and slides is strictly prohibited whether on chapter property or elsewhere.

Legal Structure

What is the Cost of a Pool? Chapter President’s parents’ homeowner’s insurance* $500,000 House Corp President’s homeowner’s insurance $500,000 House Corp Treasurer’s homeowner’s insurance $600,000 Pledge Educator’s parents’ homeowner’s insurance* $1,000,000 HC/BCA member’s homeowner’s & umbrella ins $1,200,000 PGD & House Corp primary liability insurance $1,000,000 PGD & House Corp excess liability insurance $1,300,000 $6,100,000 *The Fraternity’s insurance carriers declined coverage due to RMP violations.

Insurance Coverage General liability coverage provides protection against suits or claims arising out of accidents that arise on or off chapter property if they are a result of normal fraternity activity. Coverage is provided to: The undergraduate chapter and officers when it obeys the laws and policies of the Fraternity as well as local/state/federal laws. Volunteer advisors (PL / BCA) while performing their duties House Corporation members while performing their duties

Insurance Coverage No coverage for violations of the Risk Management Policy New exclusion for ANY WATER FEATURE No coverage for intentional or criminal conduct Undergraduates: Parents’ Homeowner’s insurance / pay out-of-pocket

Property Insurance

The FPMA Fraternity Property Management Association – Available through Willis North America (Phi Gamma Delta’s Insurance Broker) – Risk Management newsletters focused on student housing issues – Discounted premiums and broader insurance coverages – Biennial safety and health inspections focused on life safety, property condition, coverage limits, reconstruction valuation

Property Risk Management Concerns Weather (wind, ice, heat) Plumbing & Electrical Sprinklers Mold & Moisture Fire, Theft, Vandalism Ordinance or Law Trip & Fall Hazards Inflation

What Coverage do we Need? Confirm insurance carrier rating (A.M. Best, Standard & Poor’s, Fitch, etc.) All Risk-Special Form Coverage vs. Named Perils Guaranteed Replacement Cost vs. Actual Cash Value, Agreed Amount, Co-Insurance Business Income Business Personal Property

What Coverage do we Need? Property Floaters (Inland Marine) Extra Expense Ordinance or Law Coverages/Restrictions Equipment Breakdown Boiler & Machinery Workers’ Comp

Premium Discounts Fire Sprinkler Systems Increased deductibles Newer construction Employ Property Management Firm Multiple Locations

Coverage Outlets FPMA – Willis North America Local Insurance Agents Direct Writers Self-Insurance