Almost singlehandedly, Bill rescued our captive insurance company from a downward spiral caused by ineffective and incompetent management, greedy vendors and a pandemic that wreaked havoc upon the insurance industry. Bill, who was a special initiate at the 79th Convention in Phoenix, answered the call from Former Knight Commander Warren, the chair of FRMT, Ltd., when the management problems finally surfaced.
Brother Murray, who has been in the insurance business for almost 40 years, is an insurance business turnaround specialist, changing losses to profits. Through several changes, including policy modification, improved underwriting and engaging honest and trustworthy vendors, Bill transformed our insurance company, which insures 20 national fraternities, from a loss of almost $1 million to a profit of almost $2 million, while improving coverage and reducing premiums.
Though Bill Murray’s design, FRMT, Ltd. is set for growth and profitability with an eye toward affordable insurance and a return of capital to KA and other member fraternities.
Bill attended Northwestern University, Loyola University of Chicago and is a graduate of the Tuck School of Business. He retired as a Lieutenant Commander in the US Navy, serving on destroyers and submarines and is a member of the Order’s Military Service Division.
In addition to his engagement with FRMT, he is president of Arrowhead Excess and Surplus Lines Insurance Company, where he manages insurance coverage for some very high-risk companies, so it is natural he is comfortable working with fraternity men.
Former Knight Commander Warren is quoted: “In 2020, we had lost our new CEO to a significant health problem, the pandemic had shut down our campuses, and our insurance partners hit us with a 50% increase in premiums. I felt like Jo Lane Stern on the steps of White’s General Store wondering if KA, or in my case, FRMT, could survive. No not unlike Samuel Z. Ammen, Bill Murray was able to take our insurance company to the next level. His work helped KA and our other 19 other member fraternities. He has more than earned this Accolade.”