Risk Management Institute
Gallaudet receives gift from Maguire Foundation to establish Maguire Academy of Risk Management and Insurance
Gallaudet University has received a $500,000 gift from The Maguire Foundation to establish the Maguire Academy of Risk Management and Insurance. The funds will be used over three years to build up a risk management and insurance academic concentration area for undergraduate students in Gallaudet's Department of Business.
"The Maguire Foundation is an engaged partner and we deeply appreciate their investment in our students' futures," said Gallaudet University President T. Alan Hurwitz. "The establishment of the Academy makes possible more private-sector career choices. It also aligns with our strategic plan of increasing internship opportunities for our students, which strengthens our student recruitment efforts and keeps our business program exciting and cutting edge.
An estimated 400,000 jobs in the field of insurance and risk management will become available in the coming years as people in those jobs retire. The industry is beginning to recruit new talent and Gallaudet students will be poised to seize those new job opportunities. For the past two years the University has been offering an introductory risk management and insurance program to assess the feasibility of building out the program. The funds will also be used to hire an executive director for the Academy, who will oversee the curriculum and engage employers in the industry to ensure every student in the program has internships and career opportunities.
According to estimates from the "Occupational Outlook Handbook" from the U.S. Department of Labor Bureau of Labor Statistics, the number of jobs related to risk management and insurance such as actuaries, financial analysts, and accountants and auditors are expected to grow faster than the average for all occupations through 2022. The Maguire Foundation previously gave Gallaudet a gift of $400,000 for scholarships in 2012.
The Maguire Foundation's mission is to invest in young people by partnering with educational institutions to provide families of need with scholarship assistance and grants for grade school, high school, and college. The Foundation was founded in 2000 by James Maguire, Sr., founder of the Philadelphia Insurance Company, and his wife. The Maguire Foundation funded a similar program at Saint Joseph's University in Philadelphia in 2007, the Academy of Risk Management Insurance. St. Joseph's faculty and staff will advise Gallaudet faculty and staff as needed during the launch of the new program.
More information about Maguire Academy of Risk Management and Insurance is coming soon!