The University of South Florida has received a $1 million gift from the Florida Surplus Lines Service Office to establish the Florida Surplus Lines Insurance Directorship at the Baldwin Group School of Risk Management and Insurance within the Muma College of Business.
The endowment will expand coursework and hands-on learning in risk management and insurance, particularly in excess and surplus lines, the part of the industry that insures specialized or difficult-to-place risks.
Those risks can include hurricane-exposed properties and emerging cybersecurity threats, areas where insurers must adapt quickly to changing conditions.
The gift builds on an existing partnership that has connected USF students with FSLSO through internships, mentorship, campus engagement and national and international learning opportunities.
The school serves nearly 1,300 students each semester, according to USF, as enrollment continues to grow in its risk-management and insurance majors and minors.
“We need professionals who understand the fundamentals of insurance but who are also prepared to think critically, adapt and respond to a changing marketplace,” Mark Shealy, FSLSO’s CEO and executive director, said in a statement.
“The Baldwin Group School of Risk Management and Insurance is well-positioned to play an important role in developing the next generation of insurance professionals.”
USF President Moez Limayem said the funding will create more opportunities for students to learn from industry leaders and support faculty, while David Blackwell, dean of the Muma College of Business, said it will help graduates gain real-world experience in a high-growth field.