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Poster Name:
Money Talks

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From Bloomberg news Insurance Risk As deaths and injuries mounted, Lloyd’s of London became increasingly concerned about the risk of insuring SAE. It threatened to drop coverage because the fraternity poses too great a risk, according to Gregory Brandt, a state judge in Iowa, and Steven Churchill, executive director of the American Medical Association, both SAE council members. Loss of coverage could shut down SAE, they said. The Lloyd’s warning was a turning point that “changed the way” SAE officials viewed the fraternity’s “future viability,” Churchill said. Members already pay a base fee of $340 a year for liability coverage, among the highest rates of any fraternity. The SAE national’s deductible is $1.5 million a year, Cohen said.