The Insurance Committee negotiates for general liability, umbrella liability, property, boiler, D&O (Directors & Officers), and commercial crime insurance for the AILG, and the preponderance of our members and their undergraduate chapters at MIT.  Many of the FSILGs at MIT are required to purchase liability insurance through their national organizations, but for those groups without national organizations or with the freedom to purchase insurance elsewhere, the AILG insurance program provides competitively priced insurance written for collegiate fraternal organizations which is not readily available elsewhere to an individual organization.  The various types of insurance can be purchased a la carte and with various deductibles to suit the needs of the organizations.  The annual renewal process begins in January for the April 1 policy renewals.

Property Insurance

Property insurance is provided through the Fraternal Property Management Association which also provides educational assistance to fraternity volunteers to strengthen their ability to manage their group’s properties.  The comprehensive and competitively priced property insurance is designed to protect the group’s physical plants and boilers.  A biennial inspection of each property assesses risks, recommends physical plant improvements, addresses life safety and property conditions, and establishes a replacement cost valuation.

Liability Insurance

Commercial general liability insurance and umbrella liability insurance are provided with coverage comparable to or exceeding that of major national fraternal organizations.  Insurance rates are kept competitive in part through the efforts of the AILG and our members to aggressively monitor and control loss risk factors.

D&O Insurance

D&O (Directors & Officers) insurance pays for defense and investigative costs when directors and officers are sued.  Directors and officers are subject to duties of diligence, obedience, and loyalty and can be sued for negligence in the performance of those duties.   Non-profit organizations are offered some legal protection under state and national laws, but are not immune from costly litigation.  Our D&O policy is specifically written for non-profits, with coverage extended to all undergraduate and alumni affiliates.

Commercial Crime Insurance

Commercial Crime insurance offers protection against paid and volunteer dishonest undergraduate and alumni who embezzle money from the organization, forgery or alteration of a check, and theft, disappearance, and destruction of money.

For More Information

If you have any questions, comments or suggestions about the insurance coverage, please contact the committee chairperson, Stan Wulf (sawulf (at) alum.mit.edu).  For administrative questions on placing claims on insurance coverage, limits of coverage for your group, or adding or changing coverage, contact Scott Klemm (sklemm (at) fsilg.coop).

Claim Reporting

To report claims, contact Holmes Murphy at http://www.holmesmurphyfraternity.com/Claim_Reporting/.

AILG Insurance Committee

The current AILG Insurance Committee members are:
•    Stan Wulf ’65 (Chair)
•    Carl King ’65
•    Bob Ferrara ’67
•    Contractor: FSILG Cooperative, Inc.
Periodically, the Committee consults with MIT Insurance staff. The Committee works with Holmes Murphy (formerly Willis, formerly Kirklin) on the group insurance policies, and also makes recommendations about the appropriate levels of insurance for house corporations to carry.