From: JESSOP@QUCDNAST.BITNET
Newsgroups: rec.org.sca
Subject: Costs of Insurance
Date: 15 Apr 92 21:08:00 GMT
Organization: The Internet

Unto the Gentles of the Rialto does Gerard send greetings

I have not been paying much attention to the membership discussion,
but for some reason, Tibor's message caught more of my attention.

Tibor comments about insurance and salary costs in SCA Inc. and wonders
why such large numbers.  Personnaly I think insurance rates are, in
general, too high, but given the average lawsuit in the case of injury
or compensation I can understand some (not all) of them.


>    Insurance: 34,147 (5.6%)
>      General Liability          21,627 (3.5%)
>      Workmen's Compensation      1,464 (0.2%
>      Liability, Dir. & Officers  1,420 (0.2%)
>      Equestrian                  2,253 (0.4%)
>      Property                      493 (0.1%)
>      Foreign                     2,650 (0.4%)
>      Cert. of Insurance          4,240 (0.7%)

> But then, what is the certificate of insurance?

This, I have to wonder about also.  My guess is that it is the cost to
have the insurance company say that we are insured.  But if that is true
then IMHO, it falls in the same catagory as withdrawal and
transaction fees at banks: a rip-off.

>Workmen's comp, OK, we have employees.  (But note that the combined salaries,
>workmen's insurance and payrolls of the SCA, Inc is 113,718 dollars.  That's
>a lot.)

I have to dissagree here.  I do not know how the numbers vary from place
to place and organization to organization.  I suspect that the SCA, as a
small organization, in terms of numbers of employees, is much more
efficient than average but:  In one summer job I had, I learnt from the
resourse management people that the cost of an employee to the company
(this was a multi-national) was approximately twice the actual salary.
This included the office space, heating of office space, extras such as
sick leave, ... How many emplyees does the SCA Inc. have?  Assuming the
50% is a good general number, then the workman's comp. is 2.8% of the
salaries and hence 2.8% of the overhead.

>We have property insurance against the SCA's assets.  OK, I
> guess,
>but a lot of that stuff is in Hilary's apartment.  Is that stuff covered too?

But a lot if it is not in Hilary's apartment.  I have never been there
to see for my self, but unless the paid employees work in Hilary's
apartment, then at least the office equipment, etc. has to be elsewhere
and covered seperately.  And even if it were there, it would be an
expense that Hilary should not have to pay herself.  I have no idea what
the total assets in insurable property that the SCA Inc. has, but I
would be surprised if it were not well into the 5 digits, in which case
$495 a year to cover it is not excessive unless it were under the $20000
mark.

>But over 2,000 dollars to cover equestrian activities, when we consider
>fencing a "minor activity!".  My mind is officially blown. Why?

?!?!?  Fencing with equestrian activities?  I don't understand the
connection. I can understand the cost though.  Equestrian accidents tend
to cause large expences, what with serious injuries to people, and
horses not being cheap, and medical expenses for both being high.


                                        Gerard

Gerard deLangeleye          |           Chris. Jessop
Canton of Greyfells         |           Kingston, Ont.
Skraeling Althing           |           jessop@qucdnast.bitnet
Ealdormere                  |           jessop@bill.phy.queensu.ca