Two programs at the University of Louisiana at Lafayette received funding from State Farm Insurance today to help with resources and expansion.
The Insurance and Risk Management Program and a collaboration between the College of Sciences and the B.I. Moody III College of Business Administration to develop a graduate program in Actuarial Science will be the direct beneficiaries from an $85,160 grant from Louisiana’s leading insurer of autos and homes in Louisiana and the nation.
“ Gifts like these are so important to the development of new programs here,” said Dr. Steve Landry, vice president of Academic Affairs. “I know what kind of difference these gifts make to our specialty programs like the ones in Actuarial Science.”
Specifically, funding will serve as seed money to develop an Actuarial Science graduate program in the College of Sciences with the assistance of the B.I. Moody III College of Business. Funds will provide for benchmarking of established actuarial science degree program structure, content, support, and delivery with peer and aspirant universities. In addition, the funds will provide for faculty membership in professional associations, the development of and actuarial science library, and actuarial conference travel.
“ In the College of Business Administration, we are trying to embark on a new vision,” said Dr. Lewis Gale, dean of the B.I. Moody III College of Business Administration. “This type of seed money for existing programs and for developing ones is exactly what we need.”
The second part of the grant will allow the existing Insurance and Risk Management Program (housed in the B.I. Moody III College of Business) to expand by hosting an inaugural two-day continuing education Insurance Fraud Seminar. It will also fund student and faculty attendance at the Excess and Surplus Lines Symposia as well as Risk Management Seminars.
“ The University of Louisiana at Lafayette and State Farm have a couple of things in common: They’re both top-quality organizations focused on creating a better future for Louisianans,” said Tom McFadden, State Farm’s vice president-agency. “UL Lafayette does that by offering a world-class education for our young people and providing ongoing research opportunities. State Farm does so by helping our customers recover from losses and plan for their financial future.”