The model student
From: Captive Insurance Times, May 4 2017
The MJ Student-Run Insurance Company could become the model for risk and insurance education programmes, says Butler University’s Zach Finn
Where did the idea come from to set up a student-run captive insurance company?
I was a risk management and insurance major in college and went on to have a whole career in risk management, which was fantastic and exposed me to all the areas of our industry. One of the best experiences of my career was managing a Bermuda captive. I also helped with the implementation of a second captive in South Carolina. For me, the opportunity to work with an insurance company on that scale was great.
When I started out, some of the accounting and investment classes didn’t initially register with me because I lacked context. Working on captives exposed me to everything it takes to run and operate an insurance company, and how it all interfaces with a risk management programme.
After my career as a risk manager, I started the risk management and insurance degree programme at Butler University. One of the attractions of Butler was the full experience of learning. The students do two internships for academic credit, which is unique in the US. We have finance students at the university managing $2 million and
making real investments with real risks, and I thought to myself, why can’t we do this with a real captive?
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