Congratulations are again in order for the University of Georgia’s Risk Management and Insurance program. It has been ranked as the number 1 such program in the country by U.S. News and World Report. That was the case in 2015 when I last did a post on this subject and according to the college’s website nothing has changed since then. In fact, UGA’s program has been ranked either first or second in the nation since 2006. It has consistently beaten programs at such schools as the University of Pennsylvania’s Wharton School, Temple, and New York University.
The status quo was not the case for Georgia’s other highly ranked risk management and insurance program. The program at Georgia State University moved up from number 5 in 2015 to number 3 in 2018, with only the University of Wisconsin separating the two Georgia schools. It was also named a Global Center for Insurance Excellence in 2018 by the International Insurance Society, and according to the college’s website, now has two foundations devoted to supporting its work. The Huebner Foundation supports doctorate level education in risk management and insurance and the GSU Risk Management Foundation with an endowment in excess of $15 million supports general research in that area. These two foundations help support one of the largest full-time research faculties in the world for the study of insurance issues. With such support, it may not be long before the risk management and insurance program at GSU is challenging the one at UGA for the top spot.
The highly rated academic programs at UGA and GSU bode well for the future of the insurance industry in Georgia by providing steady sources of supply of young people who are interested in pursuing careers in that industry. As Reagan Consultants and others have noted, the average age of insurance agency owners and producers has been steadily increasing over the past 10 years. The programs at UGA and GSU can help reverse that trend, but only if agency owners actively recruit from those two schools.