The University of Iowa announced that it is now offering a Certificate in Risk Management and Insurance (RMI) through the Emmett J. Vaughan Institute of Risk Management and Insurance, in the Henry B. Tippie College of Business.
As part of the Department of Finance, the RMI certificate will prepare students for careers in corporate risk management, risk management consulting, employee benefits management and insurance consulting, insurance brokerage and underwriting.
“The goal of the RMI certificate is to help meet the need for highly qualified and educated future leaders in the fields of risk management and insurance, particularly by providing a steady stream of high potential employees for Iowa’s vibrant and diversified insurance industry,” said Larry Hershberger, director of the Vaughan Institute.
The certificate requires students to complete 10 courses, including core courses in insurance and risk management and electives in finance, marketing, management, actuarial science and accounting.
To enter the certificate program, students must be enrolled in an undergraduate program at the UI with 60 semester hours of credit and have a 2.75 grade point average. To complete the certificate, they must maintain a 2.0 GPA in all courses including the certificate courses, and meet grade requirements in the core courses.
Hershberger said that this semester RMI classes now have 84 students enrolled in two Principles of RMI courses, 29 in the Employee Benefit Plans course and 20 in a Property and Liability Insurance course.
The insurance industry is an important segment of the Iowa economy, and it promises to become more important in the future as companies continue to expand their operations, according to UI officials. During the past 17 years, the State of Iowa has added 12,200 net new jobs in the insurance industry, which currently employs about 41,000 people. From 1988 to 2005, employment in Iowa’s insurance industry has increased four times faster than the rest of the state, according to Iowa Workforce Development.
The Iowa Insurance Division reported that there are 55 property and casualty insurance companies headquartered in Iowa and 25 life and health insurance companies. The total assets of the insurance companies with headquarters in Iowa exceed $318 billion.
The mission of the Vaughan Institute of Risk Management and Insurance is to provide a comprehensive program of innovative education, research and leadership in the field of risk management and insurance by educating students and augmenting the professional skills of Iowa’s insurance employees.
For more information contact Larry Hershberger at the Emmett J. Vaughan Institute of Risk Management at 319-335-0896.
Source: University of Iowa News Service
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