Gift to College of Business enables new insurance, risk program at ECU
(June 6, 2008)
The College of Business at East Carolina University announced the creation of a $50,000 endowment from the North Carolina Surplus Lines Association, a support agency for licensees who underwrite unique and hard-to-place risks. The endowment will support a new risk and insurance concentration being developed by the college’s finance department.
“The NCSLA is a very strong advocate of education,” said, Josh Chappell, the association's past president. “Offering this gift to East Carolina is an outstanding opportunity for us to help the university create and strengthen its insurance program.”
Chappell said the new risk and insurance concentration would allow his organization to introduce students to the surplus lines industry, which makes up about seven percent of the total commercial insurance marketplace in the U.S.
“It is extremely important for us to attract young, talented people to the surplus lines industry – and why shouldn't they come from our home state colleges and universities?” Chappell said
Frederick Niswander, dean of the College of Business, said, “We are sincerely grateful to the NCSLA for its investment in our students.” Niswander continued, “Their support will help us provide top-notch instruction in the growing field of insurance, preparing today’s students to become tomorrow’s insurance professionals.”
The fund established by the association will work in tandem with the recently announced gift from the Independent Insurance Agents of North Carolina, which established a faculty chair in support of the risk and insurance concentration.
The concentration will be developed by faculty during the 2008-2009 academic year.