Two insurance education organizations, the Insurance Education Institute (IEI) of Indianapolis, Ind., and The Griffith Foundation for Insurance Education of Columbus, Ohio, recently signed an agreement to merge effective Jan. 1, 2008. The newly formed Griffith Insurance Education Foundation will provide risk management and insurance education programs and resources to students, teachers and public policymakers.
The mission of the Griffith Insurance Education Foundation is to become the premiere organization supporting the study and teaching of risk management and insurance and encouraging young people to pursue careers in these fields.
“This merger gives us the opportunity to expand the outreach for our existing education programs and provide the focus and resources necessary to create new ones,” said Barb Baurer, IEI chair and COO of COUNTRY Insurance & Financial Services. “We are excited about the growth and expansion potential as we move forward with our joint mission. Most importantly, the merger will allow us to provide even more value for our sponsoring companies by encouraging high school and college students to consider careers in the insurance and risk management fields.”
The organization has three primary initiatives for its first year:
Create a certification program in high schools and community colleges to prepare students for further study or careers in the insurance industry;
Introduce a professional certification program for the National Conference of Insurance Legislators (NCOIL) that provides a curriculum for member legislators to earn credits toward a professional designation; and,
Provide new education programs and resources for high school teachers to introduce risk management and insurance concepts to their students.
A single board will be formed from the existing boards of the two organizations. Don Rebele, president of The Griffith Foundation for Insurance Education, will serve as president and CEO of the Griffith Insurance Education Foundation. Headquarters will be located in Columbus, Ohio. Larry Forrester, the previous IEI president, retired July 31.
The Insurance Education Institute, formed in 1988, is a nonprofit charitable organization devoted to improving the public’s understanding of the role of insurance in society through the education of secondary school teachers and students.
The Griffith Foundation is a nonprofit, education corporation that promotes the teaching and study of risk management and insurance at colleges and universities and provides education programs for public policymakers on the basic principles of these disciplines. Founded in 1947, it provides scholarships to students, funding to collegiate business schools, and research grants and professional seminars to professors.
Source: IEI, Griffith Foundation
Topics Mergers & Acquisitions Education Training Development Risk Management
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