UI to launch insurance major in 2023

Iowa City, Iowa — The University of Iowa plans to offer a major in Risk Management and Insurance starting in the fall of 2023 as a way to strengthen the state’s largest non-agriculture economic sector.

A U of I finance professor, Thomas Berry-Stoelzle, will direct the new major. For now, he says U of I students can only get a certificate in the insurance program, which is similar to a minor.

The goal is to attract 20 students to the new major in the first year, expanding to perhaps 80 students within five years. Risk Management and Insurance may not have the curb appeal of some other majors, but Berry-Stoelzle believes it will definitely attract interest.

The new major will be offered in the University of Iowa’s Tippie College of Business, where graduates will be able to earn a Bachelor of Business Administration (BBA) degree.

Des Moines is one of the nation’s top hubs for insurance, and has been ranked third in the world behind Hartford, Connecticut and London, England. Some 212 insurance companies are now operating in Iowa, with dozens of them based in the Des Moines metro. So what makes Iowa such an insurance mecca?

More than 60,000 Iowans work in the insurance and risk management profession. The industry is expected to grow in the future, as climate change, cyberattacks, and other hazards will require companies to better manage those risks.

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