We have seen a recent uptick in phishing scams among MJ Sorority clients. In today’s digital age, the threat of phishing is more prevalent than ever before. Did you know that over 90% of successful hacks and data breaches start with phishing scams? It’s a sobering statistic that underscores the importance of staying vigilant against this pervasive threat.

But what exactly is phishing? Simply put, it’s the process of attempting to acquire sensitive information, such as usernames, passwords, and credit card or bank account details, by masquerading as a trustworthy entity. Phishers often use bulk emails that try to evade spam filters, claiming to be from popular social websites, banks, auction sites, or IT administrators. It’s a form of criminally fraudulent social engineering that preys on unsuspecting individuals.

Phishing techniques have evolved over the years, becoming increasingly sophisticated and diverse. From traditional email and spam campaigns to more targeted approaches like spear phishing and session hijacking, cybercriminals employ a wide array of tactics to deceive their victims. They manipulate links, inject malicious content, and even resort to voice calls and SMS messages in their quest to obtain personal information.

So, how can you protect yourself against phishing attacks? Awareness is key. Familiarize yourself with the common techniques used by cybercriminals, and adopt anti-phishing strategies to safeguard your information. Be cautious when clicking on links or downloading attachments from unknown sources, and always verify the authenticity of requests for personal or financial information.

At MJ, we utilize KnowBe4, a firm that provides security awareness training to members of your organization. Each quarter, they produce an infographic with the top types of phishing attacks, as excerpted above. For the full infographic and associated data, click here. KnowBe4 also offers a free phishing security test that you can utilize to see if your employees are susceptible to phishing attacks – learn more here.

The past year saw a surge in severe convective storms, particularly hailstorms, causing billions in insured losses across the US. This trend is likely to continue in 2024 and beyond, impacting insurance premiums and available coverages, especially for properties like sorority chapter houses.

The graphic above shows the increase in the number of hail storms and the severity of the damage associated with them over the last twenty years. To zoom in and read the entire report, which we found very informative, click here.

These storms, packing powerful winds, hail, and heavy rain, pose a significant threat. In 2024 and beyond, the risk of severe convective storms looms large, driven by a combination of factors such as warmer atmospheric temperatures, higher moisture content, and shifting wind patterns. These storms can unleash destructive winds, large hailstones, torrential rainfall, and even tornadoes, causing extensive damage to buildings and infrastructure in their path.

Sorority chapter houses, often located in areas prone to severe weather, often face heightened exposure to convective storms. Their typically large, historic structures may be more susceptible to damage from high winds and hail, leading to costly repairs or even total reconstruction. Furthermore, the social nature of sorority houses means that they are frequently occupied, putting members at risk during severe weather events. 

Insurance companies take these risks into account when setting premiums for property coverage. As the frequency and severity of convective storms increase, insurers may adjust their pricing models to reflect the heightened risk. Other options for insurers in this new environment include: stricter requirements for risk mitigation measures, such as installing impact-resistant roofing materials or reinforcing windows and doors against high winds. 

In response to these challenges, sorority chapters must prioritize proactive risk management strategies. These strategies include the following recommendations and resources:

By staying informed and taking proactive steps, sorority houses can weather the storm – both literally and figuratively.

In this issue of our monthly newsletter, we cover the increasing likelihood of convective storms, share updates to the Important Terms for Housing Agreements, the recent increase in risky activities, an FAQ about money transfer apps like Venmo and Zelle, managing the risk of phishing scams, and more.

An annual risk management bulletin from MJ Sorority about how best to prepare for tornado season.

In this issue of our monthly newsletter, we cover risky activity reminders for spring events, concerns about vacant properties, some risk management concerns about ChatGPT to be aware of, and we shared a bunch of new resources to prevent water damage at the chapter house.

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.