IOWA CITY, Iowa (KCRG) – The University of Iowa has achieved great success with its new “Risk Management and Insurance” program.
Iowa has offered insurance classes for decades, but students can only earn a certificate if they complete the course. The school announced last year that it was ranked eighth in the country.
“I have to get one more next semester, but I’ve got three right now,” Iowa senior Will Eastman said.
Eastman is one of 200 students currently enrolled in the Risk Management major at the University of Iowa’s Tippie School of Finance. Until this year, Eastman was studying finance, but when she learned that adding a second major would include five classes, she jumped at the opportunity. He plans to work in the health insurance field after graduating next spring.
“Everyone jumped on board because of the ease of the sale and the great deals,” Eastman said.
Professor Martin Grace, from Tippy School of Finance, said being ranked 8th nationally was unusual this year and next year will be the real test, but the program is better than people realize. He said it brings a lot to Iowa State.
“In most states, the insurance industry makes up about 2% of the state’s economy, but here it’s more than five times that,” Grace said.
The new program comes at a time when some Iowans are beginning to see insurance companies leaving the state. Last year, we reported that five companies pulled out of Iowa due to billions of dollars in losses from storm damage. That includes the 2020 derecho that caused $10 billion in damage in Iowa.
“Because we live in more dangerous areas, more dangerous areas,” Grace said.
Eastman said he learned about these challenges and is ready to take on a new career once he graduates.
“Many of our students were drawn in because we weren’t just talking about the definition and structure of car and home insurance, but about unique real-world issues that were happening right now in current events. ,” Eastman said.
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