UpZete 5.07 - We'll See You in Cleveland!

Putting some Money where our Mouths Are...

Pardon the tortured metaphor, but I've been writing here about changes for Zeta Psi. We intend to start focusing most of our IHQ efforts on a single objective: The Ideal Chapter. As we refine that notion, it points the way to several other sub-assignments. One of the most significant is insurance costs.

I've addressed this several times in the past, and I am now going to highlight some of the changes that will be proposed in Cleveland and the rationale for them being increases/decreases to a base insurance rate/man. Much more detail will be available at Convention.

HOUSE

It's the Chapter, not the "building"....we say it all the time. But in insurance and litigation, it sometimes is the building. Any structure which is occupied by undergraduate brothers, with or without external identification, and recognized as "the Zete house" on campus is a "house". The significance is it places the Zeta Psi name in the public arena, and if anything goes wrong within it, or with the people who live there, it will be perceived as a "Zeta Psi" action. This leads to a Zeta Psi lawsuit. The size of the building or number of occupants really isn't the key.

GPA; Financial Standing; Chapter Awards

Besides being key factors in an Ideal Chapter, these attributes generally indicate a well run chapter. Brothers are responsible; officers are on top of things; communications are effectively transmitted. Brothers that pay their bills; rush and pledge properly; participate extensively on campus and study instead of partying are much less likely to engage in risky behavior. And in any case, should get some financial "reward" for playing by the rules compared to less focused chapters.

CLAIM EXPERIENCE

This is perhaps the most obvious factor. Zeta Psi covers the $2,500 deductible on every claim. Any additional deductibles from claims from the same chapter within a 5 year "rolling average" period are the responsibility of the chapter.

Additionally, Zeta Psi assumes the next $25,000 loss of every claim, which is a cost to all members. Consequently, chapters with multiple claims will be required to repay a portion of the incurred loss.

All these efforts are designed to do one thing: Apply additional costs to chapters for their individual risky behavior while reducing costs to successfully operating chapters who work toward the Ideal Chapter model.

More to come.....