Membership in the Risk Management Foundation includes the following mandatory insurance coverage:
1. General liability
2. Excess liability
3. Directors and officers liability
4. Dishonestly bond (Crime)
The RMF makes the following additional coverages available as well:
1. Property
2. Boiler and machinery
All chapters and house corporations are reminded to comply with their local state workers' compensation laws.
Each chapter must provide proof of insurance as required under the Sigma Chi Governing Laws (ECR 6.02-i-4). Undergraduate chapters are afforded protection provided that the chapter is abiding by the RMF and Sigma Chi alcohol policies.
Excess Liability insurance extends additional coverage to all other insureds such as alumni advisors and other volunteers while they are acting on behalf of Sigma Chi Fraternity. Excess Liability insurance does not protect the chapters or undergraduates.
Yes. The insurance provided as part of membership in the RMF contains several important exclusions or coverage restrictions. For chapters and undergraduates, the insurance provided through the RMF is always excess of any other insurance. This insurance does not provide for or replace your personal insurance protection.
Insureds are only covered by the RMF's insurance under the following conditions:
1. Only while acting in accordance with Sigma Chi Fraternity and RMF policies.
2. Only while acting in their official capacity.
3. Only while acting withing the scope of their duties.
4. Only for their activities on behalf of the Fraternity insureds.
The RMF insurance coverage is also specifically restricted or eliminated when other types of conduct are involved. These include, but are not limited to:
1. Hazing of any kind
2. Criminal acts/alcohol consumption by minors
3. Intentional acts/assault & battery
4. Sexual abuse or misconduct
5. Violations of Fraternity or RMF policies
No. This is a common question, and it is important to understand that participation in Sigma Chi athletic activities is voluntary. Members and guests assume the risk of injury and participate "at their own risk." Claims in this area are normally covered by personal medical insurance.
No. The RMF insurance coverage is not an accident and health policy. Claims in this area are normally covered by personal medical insurance.
Yes. Chapters, chapter officers and other undergraduate members are often named in lawsuits. While not often, house corporations, their members, advisors and other volunteers have been individually named in legal actions. The named insured under the RMF policy are subject to the terms, conditions, and limitations of the insurance.
You should always report any potential insurance claim to your personal insurance agent or carrier. The insurance provided as part of RMF membership is in excess of any other insurance available to you, such as your personal or parents' automobile or homeowners insurance.
You should always report any potential insurance claim to your personal insurance agent or carrier. Where permitted by law, the insurance provided for volunteers under the RMF policy is primary and will stand ahead of your personal insurance.
No. Because of State "Automobile Financial Responsibility" Statutes, (laws that require owners or operators of an automobile to maintain primary auto insurance), the operator and owner must rely on their own automobile insurance. The RMF insurance provides Hired & Non-Owned Auto coverage to other insureds that may potentially be responsible for auto accidents. This coverage is specifically in excess of any other auto liability insurance that may be available.
The RMF insurance program does not cover loss or damage to personal property--i.e. computers, bikes, books, clothing or other personal items. Usually loss or damage to your personal property is easily insured under renters insurance or your personal or parents' homeowners policy.
No. As with loss or damage to other personal property, your automobile is not covered by the RMF insurance program.
Total liability contributions are determined by the underwriters to the RMF insurance policy. Some of the more important factors include:
1. The RMF's history of premiums paid versus losses paid
2. Status and development of open claims
3. Deductibles and coverage limits
4. Exposures in number of chapters and members
5. Overall loss control response and compliance efforts
Chapter membership contributions are reviewed and determined in accordance with the RMF membership allocation formula. Some of the more imporant factors include:
1. Chapter size
2. Chapter claims history
3. Chapter loss control response and compliance efforts
4. Other risk management actions and programming
- Reduce your exposures by strictly following the law, Sigma Chi Fraternity and RMF alcohol and drug policies, and the RMF insurance policies.
- Respond and comply promptly with loss control requirements.
- Confirm in writing when you make necessary life safety improvements.
- Implement the Risk Management Chairman position and risk management committee into your chapter's executive structure.
- Develop ongoing risk management efforts to provide consistent education and awareness to the membership.
- Reduce your exposures by focusing on life safety improvements such as fire protection and alarm systems.
- Ensure these systems are always operating properly with consistent monitoring and professional servicing each year.
- Maintain effective security systems to protect the property and contents.
- Participate in the Life Safety/Loss Control inspection program and respond in writing to promptly confirm compliance with any loss control requirements.
- Develop and implement a short-term plan to install a complete sprinkler system.
Yes. Although the most important factor is always your own chapter's and the fraternity's total loss record, the loss record of the whole fraternity world does have an affect as well. Because the insurance marketplace for fraternities is limited, any significant catastrophe or precedent-setting legal claim can have a broad impact in this market.
Group policies have been proven to offer the broadest coverage at the most affordable costs. They provide continuity and often include additional services such as educational programming and loss control assistance as well as chapter house inspections.
Statements for each new program year are distributed at Balfour LTW and via e-mail in early August. Payment is due in full by September 15, unless the chapter opts for the half- or monthly-payment plan.
If membership contributions are not paid by the due date, membership in the RMF program may be suspended and insurance coverage terminated. Without insurance, individual chapters and their members may become personally liable for any claims that might arise.
The RMF Board of Directors reviews various aspects of the risk management program annually. Additionally, Sigma Chi Fraternity's Executive Committee reviews the RMF Board's recommendations annually.
The limits of coverage for chapters and undergraduates are $1,000,000 Per Occurence. The limits of coverage for all other insureds under the RMF insurance program are $11,000,000 Per Occurence.
At HQ:
RMF Managing Director
1714 Hinman Ave
Evanston, IL 60201
RMF@sigmachi.org
RMF insurance broker:
James Favor, Favor & Company, Inc.
http://jrfco.com/
14466 E Evans Ave
Aurora, CO 80014-1409
Phone: (800) 344-7335 or (303) 750-1122
Fax: (303) 745-8669