Property claim trends

Property Exposure

:: Number of claims is trending downward

• Increase in property deductibles
• Property owners doing more preventative maintenance on their properties

:: Average time required to settle a claim has gone from 55 days to 34 days

:: At the same time, we have seen an increase in the amount of time required to meet with and satisfy local governmental entities responsible for zoning, codes, etc.

:: Recent “University Housing Fires Report” for the 2005-2007 term recorded 3,800 fires resulting in $26,000,000 in property damage. Cooking fires accounted for 84 percent of the fires.

:: We have seen very little exposure to the more “catastrophic type” claims such as hurricanes, tornados, etc.

Peril	Frequency (Number of claims)
Water Damage	24%
Wind	5%
Equipment Breakdown	4%
Glass Breakage	4%
Hail Damage	4%

FAQ: Exercise equipment at the chapter house

Excerpt from the FAQ section at www.mjsorority.com

Q: Are there liability concerns associated with having exercise equipment at the chapter house?

A: Yes! Obviously, exercise equipment in the chapter house poses an increase in exposure to bodily injury claims for the House Corporation. If you do have exercise equipment, we recommend that you address its use in your housing agreements with each tenant member. In addition, we strongly encourage the House Corporation to have some kind of maintenance schedule in place to ensure that the exercise equipment is properly maintained and meets minimum safety standards.

Library Spotlight: Peer monitoring

In 1996, NPC adopted a unanimous resolution regarding peer monitoring. The resolution states that member groups should refrain from serving as Panhellenic and Greek enforcement officials at social events and that the NPC expects its member groups to resist pressure from university personnel for their members to serve as social event peer monitors.

Read more about the risk management considerations to take into account when it comes to peer monitoring in our position paper on the topic.

Facebook and Employees

A recent ruling regarding an employee being fired after making disparaging remarks about her employer on Facebook may set a precedent for future claims. Money quote:

“while the settlement doesn’t set a precedent, employers should review their electronic usage and social network policies to make sure the language is not so restrictive as to impinge on protected ‘concerted activity’ by employees.”

Read the whole article.