GCIE Focus: University of Iowa, The Emmett J. Vaughan Institute of Risk Management and Insurance
The Emmett J. Vaughan Institute of Risk Management and Insurance administers the RMI Program which is housed in the Department of Finance in the Tippie College of Business. The University of Iowa’s Tippie College of Business is AACSB accredited. The Tippie College Undergraduate program is ranked 19th among public institutions in the US by US News & World Report. Students enrolled in any major may complete the rigorous Certificate in Risk Management and Insurance curriculum in addition to their declared major.
For decades, the University of Iowa has been known for producing leaders in the world of risk management and insurance. Professor Emmett Vaughan, an eminent scholar at the University of Iowa for more than 40 years, was instrumental in establishing a distinguished reputation for insurance education at the university. Under his guidance, the Tippie College of Business partnered with industry leaders to launch the institute to help with the industry's expanding employment needs. After Dr. Vaughan's passing in 2004, the institute was renamed in his honor.
The Vaughan Institute is the University of Iowa’s Center for Risk Management and Insurance (RMI), an industry-focused experience designed to prepare students for careers in this growing ﬁeld. It is open to all UI students regardless of their major.
There are nearly 140 insurance companies located in Iowa alone. These companies have a constant need for specialized talent. The Vaughan Institute helps students gain industry knowledge, build their networks, and jumpstart their careers—98 percent of interns move into full-time positions after earning their degree. To date, 150 employers in 15 industries, 24 states, and four countries have hired University of Iowa RMI grads.
The Vaughan Institute has a lot to offer to students and employers:
- An active Gamma Iota Sigma chapter
- Over $40,000 in scholarships awarded to RMI students each year
- Exclusive networking events and mentor program with industry professionals
- Student newsletter with job and internship announcements
- Student resume book sent to recruiters
- RMI speciﬁc career fair
- Cutting-edge research
Year Established: 2004
Program Size: Average annual program graduates: 60 for school year 2019-2020; the program has been growing since 2017, in prior years the average was around 35
Forthcoming articles available in the early view section of the journal websites:
- Peter, Richard and Jie Ying, “Do you Trust your Insurer? Ambiguity about Contract Nonperformance
and Optimal Insurance Demand,” Journal of Economic Behavior & Organization, Forthcoming
- Altuntas, Muhammed, Thomas R. Berry-Stölzle, and J. David Cummins, “Enterprise Risk Management and Economies of Scale and Scope: Evidence from the German Insurance Industry,” Annals of Operations Research, Forthcoming.
Articles in print:
- Peter, Richard and Martin M. Boyer, 2020, “Insurance Fraud in a Rothschild-Stiglitz World,”Journal of Risk and Insurance 87(1), 117-142
- Berry-Stölzle, Thomas R. and David L. Eckles, 2019, “It’s about Building a Book of Business: Incentives of Insurance Salespersons from Future Renewals,” Geneva Papers on Risk and Insurance, 44(4), pp. 702-731.