The National Conference of Insurance Guaranty Funds (NCIGF) will mark the organization’s 25th anniversary at its Annual Conference here on May 6 with an annual gift of $1,000 to Butler University’s Davey Risk Management and Insurance (RMI) Program in 2015, 2016 and 2017.
The NCIGF is a non-profit association that supports the property and casualty guaranty funds located in each of the fifty states and the District of Columbia. The national organization is based in Indianapolis. It was headquartered in Indianapolis in 1989 to support the state guaranty funds which were established in the late 1960s.
The property and casualty guaranty fund system protects policyholders and claimants of an insolvent insurer by stepping in and paying outstanding covered claims of insolvent insurance companies. State guaranty funds provide an essential safety net for policyholders, one that meets the needs of those least able to deal with losses should their insurance company fail.
“Butler University’s Davey Risk Management & Insurance Program is honored to be the National Conference of Insurance Guaranty Funds’ recipient of its gift in recognition of the organization’s 25th anniversary,” said Zachary Finn, Clinical Professor and Director of the Davey Risk Management and Insurance (RMI) Program at Butler University.
The Davey Risk Management and Insurance (RMI) Program was endowed in 2012 through a generous estate gift from William and Bernice Davey. Mr. Davey enjoyed a long and distinguished career in the insurance industry and served as Indiana’s Insurance Commissioner in the 1950s.
The Davey RMI Program is one of only three accredited Risk Management and Insurance programs in Indiana, and of 60+/- programs in the nation. Undergraduate enrollment has quickly grown to 50 students in the 2014-15 academic year.
The Davey RMI Program seeks to develop leaders with a holistic view of the insurance industry who are able to understand, quantify and manage both the upside and downside of risk. By partnering with business and non-profit communities, as well as professional societies and associations, the program’s intent is to grow and develop the next generation of risk managers and insurance professionals.
NCIGF’s President and CEO Roger Schmelzer says the organization is delighted to mark this important milestone for the NCIGF by supporting this innovative program at Butler University.
“Availability of property and casualty insurance is a critical piece of America’s economic foundation,” he said. “What Butler is doing—giving its students hands-on experience in solidifying that foundation—is very encouraging and fits well with the guaranty funds’ mission to help maintain consumer confidence in the insurance promise.”
For more information about the NCIGF, visit www.ncigf.org.
For more information about Butler University’s Davey Risk Management & Insurance Program, visit http://legacy.butler.edu/business-undergraduate/curriculum-majors/risk-insurance/