Risk Management IMDP Study Guide

(True or False) The final responsibility for the success of the management of risk rests with our FRATERNITY, its CHAPTERS and the MEMBERS. - Answer- True What is the first line of defense in liability matters? - Answer- Risk Aversion What is the second line of defense in liability matters? - Answer- Loss Prevention What is the third line of defense in liability matters? - Answer- Loss Control What is the final line of defense in liability matters? - Answer- Insurance (True or False) Whenever hosting an event, a Chapter, District or Region, must ensure that the event has insurance coverage. - Answer- True (True or False) Chapters , Districts or Regions, can be held liable for alcohol related accidents as well as any property damage that occurred during the event by non-members. - Answer- True How does a chapter qualify for Insurance Coverage? - Answer- 1. Be in Good Standing 2. Submit a Special Event Checklist At what levels of the Fraternity does that General Insurance take part in? - Answer- The Chapter, District, and Region Level What is a Special Event? - Answer- A special event is any event held by a chapter, district or region that IS NOT a regularly scheduled business/chapter meeting How many days in advance must the Special Events Checklist be submitted? - Answer- 21 Days (True or False) - Answer- EVENT CHECKLISTS SUBMITTED THE WEEK OF THE EVENT WILL NOT BE PROCESSED OR APPROVED (True or False) Do Special Events need the written approval from Corporate Headquarters before the chapter can proceed to have the event? - Answer- True Are Personal Vehicles insured from the fraternity's insurance policy? - Answer- No