National Insurance Still a Major Issue
By DERRICK CABRERA
National Executive Vice President
For many of our alumni in the medical field, you've probably noticed the relentless rise in the cost of malpractice/liability insurance. The National Fraternity's insurance woes are no different.
Rising premiums and lack of payments from active chapters have made insurance a hot-button topic with regard to ADG's overall finances. The Executive Council introduced and initiated a financial incentive program at last year's convention that was designed to encourage actives to make insurance payments on time and in full by the time our next payment is due. The incentive program does not seem to be working to its full potential, however, as only a handful of chapters are meeting their obligations.
Currently, Alpha Delta Gamma National Fraternity is covered under an insurance policy until August 1, 2004. Until that time, the Council will continue to seek out more quotes for general liability in order to reduce the cost of insurance to active members. In addition, there are other solutions being discussed, including dropping the section of the policy covering chapters with houses (which means that chapters with official fraternity houses would be responsible for insuring their own houses).
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We have few other resources available to us to determine the proper course of action with regard to this issue going forward. Unfortunately, nothing looks financially plausible at this time. However, should there be any other recommendations that you can offer, the Council is willing to listen and would appreciate any expertise on the matter. Please contact me at derrickcabrera@aol.com should you be able to provide any further recommendations or assistance.
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