The MJ Sorority Insurance Program is designed to provide comprehensive coverage to owned property that is currently housing chapter members. Any leased properties must be assessed on a case by case basis to determine coverage eligibility. 

Our current policies presume third party tenants have their own property insurance coverage, which should be recorded in conjunction with the executed lease agreement.  

To assess continued coverage eligibility under the your insurance policy, MJ Sorority needs to have a copy of the current lease agreement attached to the property in question. Reviewing your lease agreement will provide us with the necessary information to determine continued eligibility under the current insurance program. 

In addition to a copy of the Lease Agreement, we will need to determine if the following risk management guidelines are in place: 

Tenant is a single sex organization: ___ Yes ___ No 

Adult employee/supervisor is living on the premises: ___ Yes ___ No 

Open Flames are prohibited ___ Yes ___ No 

Alcohol is prohibited ___ Yes ___ No 

Property Manager hired to oversee property ___ Yes ___ No 

Also, please provide the following information: 

If you have a leased property, please provide your Client Executive with the information requested above.

Water damage poses a significant threat to sorority chapter houses, often resulting in costly repairs, business interruptions, and reputation damage. In this resource, we share tips and strategies to effectively prevent water damage and safeguard the integrity of sorority chapter houses. For a shorter, visual resource, click here.

Domestic plumbing is the primary culprit of water damage. Most claims involve leaking pipes caused by corrosion, pipe burst, or failure. Failure to prevent and control corrosion is the root cause. Unfortunately, most corrosion is internal and is not easily identified. Galvanic corrosion is one of the most common types of corrosion.

Winter weather risk management reminders and resources in our winter weather risk management bulletin, including: frozen pipes review and mitigation, webinar with Ryan Protection and Salamander, and other important weather-related information.

Help us welcome our new Director of Risk Management Education and learn more about Kit Moorman. Learn more and read our press release.

Winter can be a harsh season for fire protection systems. Use this checklist from Ryan Fireprotection of best practices for preparing your system for the winter.

In the November 2023 issue of News & Notes, we cover the following topics: Thanksgiving break closing checklist and reminders, minimizing virus outbreaks at the chapter house, kitchen safety reminders and recommendations, and we share a webinar about designing with Gen Zers in mind.

As winter arrives, it is important that we consider the potential of freeze claims, especially during breaks for the upcoming holidays. Preventing frozen pipes is probably the most important consideration over the winter breaks, but closing the chapter house before Thanksgiving and winter breaks involves several additional tasks to ensure that everything is in order and secure. Here’s a checklist we’ve developed to help:

Before break:

During the break:

After returning:

Additional tips:

This edition of the MJ Sorority newsletter covers the following topics: chapter security webinar, winter driving reminders and infographic, preventing check fraud, 2024 economic outlook, FAQs, and more.

Click here for printable PDF version.

When winter weather strikes, drivers face out-of-the-ordinary challenges when they get behind the wheel. Snow, slush or icy roads are involved in nearly one in four weather-related vehicle crashes. These conditions can make it harder for drivers to see, slow down and stop – all factors that can increase the chances of an accident.

If you must travel during winter weather, preparing your car in advance, knowing the forecast and driving based on road conditions are three key ways to help you drive more safely. Following are some winter driving safety tips to help you prepare for the elements – before you face them – on the road.

Preparing Your Vehicle
As temperatures start to drop, it’s time to make sure your car is stocked with a winter driving survival kit, including an ice scraper, a snow shovel and sand or road salt. This way, you’ll be prepared if winter weather arrives while you’re away from home. It’s also a good time to check your tires to determine whether it’s time to replace them or whether you need snow tires.

A few habits to adopt regularly during the winter months can also help prepare you for a wintry drive. Keep your windshield wipers in good condition and your windshield fluid reservoir filled so you can clear snow and ice from your windshield. Make it a practice to keep your gas tank full so you can run your engine and stay warm if you get stuck or stranded.

Keeping your gas tank full in extended cold weather can also help minimize the amount of water vapor in your tank, which can freeze when temperatures drop. In addition to keeping the tank full, consider keeping your vehicle in a garage and using fuel additives such as dry gas to help eliminate water vapor that could freeze in your gas lines. You should also either drive or run your car in a well-ventilated area at least every few days to help avoid a dead battery, another cold weather concern.

Watching the Weather
If you plan to travel when inclement weather looms, monitor road and weather conditions by checking local news stations or Internet traffic and weather sites. You can sign up for weather alerts to receive text messages and optional alerts for your area. Do not check your phone while driving and avoid all unnecessary distractions when you’re behind the wheel.

Driving for Winter Conditions
Before you leave the driveway or parking lot, take time to clear snow and ice off your car, including your windows, mirrors, lights, reflectors, hood, roof and trunk. Drive with your headlights on and be sure to keep them clean to improve visibility. Use caution when snow banks limit your view of oncoming traffic.

As you get on the road, remember that speed limits are meant for dry roads, not roads covered in snow and ice. You should reduce your speed and increase your following distance as road conditions and visibility worsen. Avoid using cruise control in snowy or icy conditions – you want to have as much control over your car as possible. Be cautious on bridges and overpasses as they are commonly the first areas to become icy. Avoid passing snow plows and sand trucks because the drivers may have limited visibility and the road in front of them could be worse than the road behind.

Breaking Down or Getting Stuck
If you are unexpectedly caught in a snowstorm and are stranded or get stuck in snow, if your car is safely out of harm’s way, stay in your car and wait for help. You can run the car heater to stay warm for 10 minutes every hour, but first, make sure your exhaust pipe is clear of snow. There is a danger of carbon monoxide poisoning if snow blocks the pipe and enables the deadly gas to build up in your car. Open your window slightly to help prevent any buildup.

Remember, driving in winter weather can be challenging, even for experienced drivers. Slowing down, allowing increased time to come to a stop, wearing your seatbelt, devoting your full attention to the road and being aware of changing conditions can help you drive more safely. If your travel route takes you into remote areas with limited cell phone coverage, consider informing a third party of your travel plans and share with them your route and when you plan to arrive. This way, if you are overdue, first responders will know where to start looking. If you’re unsure whether it is safe to drive, consider waiting until the roads improve.

Source:
https://www.travelers.com/resources/auto/safe-driving/winter-driving-safety-tips

In the past few issues of News & Notes, we have written about changing dynamics in the property insurance industry. In recent years, insurance companies have found themselves at the forefront of a complex and evolving challenge: the impact of changing weather patterns on property coverage. As the world grapples with more frequent and severe weather events, such as hurricanes, wildfires, and floods, insurance providers have found themselves at a crossroads, compelled to make difficult decisions regarding property coverage. These changes reflect the growing recognition that the traditional insurance models may no longer suffice in the face of a rapidly changing climate landscape.

Insurance companies are increasingly restricting coverage or raising premiums for property insurance as a response to the escalating risks associated with changing weather patterns. Rising temperatures, altered precipitation patterns, and the intensification of extreme weather events have significantly increased the likelihood of property damage. Consequently, insurance providers are left with the unenviable task of recalibrating their risk assessments and pricing models to maintain their financial stability while continuing to offer coverage to policyholders. This shift underscores the critical need for a proactive and comprehensive approach to managing risk, including building reserve funds for your chapter facilities.

We have asked our business partner, Blu & Co., to develop a resource for house corporations that will help House Corporations fund for the future:

By: Annmarie Novotney, CPA
Audit Director / Owner Blu & Co.

National fraternities and sororities have been dealing with changing circumstances on many fronts over the last five years.  Part of this changing landscape involves property management and adapting to significant increases in property claims across the nation.  As a result, property owners must prepare for higher property deductibles, due to the increase in the frequency of claims and in the increase in the severity (cost) of claims than in years past.  

It is critical to an organization’s sustainability to have adequate short-term cash reserves and liquidity resources for operational flexibility and for ensuring that organizational commitments are met timely.  Beyond short-term cash reserves, fraternities and sororities should also consider building reserves to fund insurance deductibles as claims are incurred.  Such reserves (often designated by the Board of Directors) are funded so that intermittent claims can be managed without disrupting already tight operating budgets.

In considering building an insurance reserve fund, organizations should consider the following areas:

Blue & Co.’s Not-for-Profit Services Team advises organizations on ways to improve both the balances and the utilization of reserves and liquidity resources to enhance sustainability over time.  Please reach out to your local Blue & Co. advisor with any questions regarding these recommendations.