History of the Huebner FoundationIn 1940, leaders in the insurance industry and the University of Pennsylvania collaborated to develop a solution to the inadequate supply of collegiate professors, research and publications on important issues related to the burgeoning fields of insurance and risk management. The founders observed that of the 384 instructors teaching 584 college courses in insurance and related fields in 1940, only 38 were full-time teachers with at least half of their teaching load in insurance and risk management. In response to this teaching shortage, the founders created the S.S. Huebner Foundation for Insurance Education in 1941.
The founders named this new joint enterprise after Wharton professor, Solomon S. Huebner, whose life’s work was focused on the advancement of insurance education. In 1904, Dr. Huebner taught the first organized course on the economics of insurance ever offered at the collegiate level. His courses were so popular that insurance was accorded departmental status at the Wharton School in 1913, making it one of the school’s oldest departments. There were no textbooks in insurance until Dr. Huebner wrote pioneering texts on life insurance, property insurance and marine insurance. While at Wharton, Dr. Huebner also founded both the American College in 1927 and the American Institute for Chartered Property Casualty Underwriters in 1942. Given Dr. Huebner’s dedication to insurance education, it was not surprising that the founders decided to name the Foundation in his honor.
In 2012, the Huebner Foundation relocated from the Wharton School to the Department of Risk Management and Insurance at Georgia State University.
Why support the Huebner Foundation?Several colleges have recently started or endowed risk management programs (e.g., University of Denver, University of Cincinnati, Ohio State University, among others). Many established risk management programs such as Georgia State University’s own program, are growing as the scope of academic research in risk and its management broadens. The demand for qualified professors of risk and insurance is growing, while the supply is dwindling.
Your support of the Huebner Foundation will allows Georgia State University’s Department of Risk Management and Insurance to attract the best doctoral candidates in the world to meet the growing need for risk and insurance collegiate educators and scholars dedicated to the students, the issues in this fiels, and who are capable to lead and develop risk and insurance programs at universities across the globe.
Why Georgia State University?
Georgia State University’s Risk Management and Insurance program is widely recognized as the leading innovator in the area of insurance economics. As the largest dedicated academic risk department in the world, GSU’s RMI Department enjoys unmatched recognition as a Society of Actuaries Center for Actuarial Excellence, a top five ranked program by U.S. News & World Report (currently #4 and ranked in the top ten since 1999), and an accredited university risk management program by the Professional Risk Management International Association (PRMIA) since 2011.
GSU is dedicated to Solomon Huebner’s legacy of creating and fostering a distinct field of risk and insurance. The mission of the RMI Department is to advance knowledge and educate students in the economics of measuring, managing, and collecting risks faced by individuals and households, in organizations, and society. One of the department’s leading objectives is to place all of its PhD graduates at peer and aspirational universities in academic risk management programs and in departments of economics and finance.
For these reasons, the Huebner Foundation Trustees believe that GSU’s RMI Department is the academic unit best able to execute its mission.