College of Insurance

Last updated
The School of Risk Management, Insurance and Actuarial Science
TypeSchool within
St. John's University
Established1901
Location,
U.S.
CampusTen-Story "Vertical Campus"
Website www.stjohns.edu

The College of Insurance (TCI) was a specialized accredited college, started by insurance industry leaders in 1901 as an insurance library society, the Insurance Society of New York (ISNY). The Insurance Society of New York initially provided study space and material to young people entering the insurance industry, and served as a site for insurance lectures. Over the years, ISNY developed a curriculum based upon these lectures. The curriculum ultimately led to the creation of The School of Insurance, followed by The College of Insurance.

Contents

The College of Insurance offered bachelor's and master's degrees in insurance and actuarial science. It provided professional exam preparatory seminars for insurance and actuarial science designations and held classes after business hours for working professionals in New York City. At its largest, total enrollment was approximately 400. Among the benefits of the college was its co-operative program. Although most students were employed by local insurers prior to enrolling at TCI, others were placed with an insurer who paid the student and often subsidized the student's tuition.

vertical campus St Johns U Murray WST jeh.JPG
vertical campus

St. John's University

In 2001, St. John's University in Jamaica, New York took over the college's programs, creating The School of Risk Management, Insurance and Actuarial Science (SRM). The Manhattan location of the college now houses many graduate business and professional programs of St. John's Peter J. Tobin College of Business.

Location

Until May 2014, the college was located within the Financial District of lower Manhattan, at 101 Murray Street. This location was situated only a few blocks from Wall Street, TriBeCa and Battery Park City. The college consisted of a ten-story, prize-winning "vertical campus," which featured an airy five-story entrance atrium, 16 conference and seminar rooms, 24 high-tech classrooms, a variety of computer labs, a cafeteria, dormitories and the Kathryn and Shelby Cullom Davis Library.

Following the sale of the 101 Murray Street campus, the School of Risk Management including the Davis Library moved to St. John's new Manhattan location at 101 Astor Place, part of the Maki-designed office tower at 51 Astor. The previous building at Murray Street was demolished in May 2015. [1]

Kathryn and Shelby Cullom Davis Library

The Kathryn and Shelby Cullom Davis Library at the college comprises the world's largest collection of risk and insurance literature, policies, and related documents. Throughout its history, the library has served students, faculty, staff, and industry practitioners seeking specialized knowledge in risk management, insurance, and actuarial science. The library maintains the original archive of the Insurance Society of New York, as well as many historical insurance documents. [2]

Under The Insurance Society of New York, a number of individuals and organizations contributed to the library's growing collection throughout the 1900s. In 1974, Shelby Cullom David and his wife Kathryn presented The College of Insurance with a major endowment. This endowment helped to secure the library's future and it was renamed in their honor. With the merger of The College of Insurance and St. John's University, the Davis Library became part of the St. John's University library system.

Center for Professional Education

The Center for Professional Education is located within the School of Risk Management, Insurance and Actuarial Science. For over 30 years, the center has served the educational needs of more than 10,000 professionals in the insurance, risk management and financial services industry. The Center provides seminars, workshops, certificate programs and professional designation examination preparation courses for students of St. John's School of Risk Management within the Tobin College of Business, and working professionals in the New York City area. The Center for Professional Education also provides consulting services to the industry, governments and regulators worldwide. [3]

Related Research Articles

<span class="mw-page-title-main">Actuary</span> Analyst of business risk and uncertainty

An actuary is a professional with advanced mathematical skills who deals with the measurement and management of risk and uncertainty. The name of the corresponding field is actuarial science which covers rigorous mathematical calculations such as the survival function and stochastic process. These risks can affect both sides of the balance sheet and require asset management, liability management, and valuation skills. Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms.

<span class="mw-page-title-main">Actuarial science</span> Statistics applied to risk in insurance and other financial products

Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment and other industries and professions. More generally, actuaries apply rigorous mathematics to model matters of uncertainty and life expectancy.

<span class="mw-page-title-main">St. John's University (New York City)</span> Catholic university in New York City, New York, U.S.

St. John's University is a private Roman Catholic university in Queens, New York City. It was founded in 1870 by the Congregation of the Mission with a mission to provide the youth of New York with a Catholic university education. Originally located in the Brooklyn borough of New York City, the flagship campus was moved to its current location in the Queens borough during the 1950s. St. John's has additional New York City campuses in Staten Island and Manhattan, as well as the Long Island Graduate Center in Hauppauge, New York. Additionally, the university has international campuses located in Rome, Italy, Paris, France, and Limerick, Ireland. The university is under the patronage of Saint John the Baptist.

<span class="mw-page-title-main">Canadian Institute of Actuaries</span>

The Canadian Institute of Actuaries (CIA) is the national organization of the actuarial profession in Canada. It was incorporated March 18, 1965. The FCIA designation stands for Fellow of the Canadian Institute of Actuaries. As the national organization of the Canadian actuarial profession, the CIA serves the public through the provision by the profession of actuarial services and advice by: representing the Canadian actuarial profession in the formulation of public policy; promoting the advancement of actuarial science; educating and qualifying CIA members; ensuring that actuarial services provided by its members meet accepted professional standards; and assisting actuaries in Canada in the discharge of their professional responsibilities.

<span class="mw-page-title-main">Carnegie Corporation of New York</span> United States trust

The Carnegie Corporation of New York is a philanthropic fund established by Andrew Carnegie in 1911 to support education programs across the United States, and later the world.

Enterprise risk management (ERM) in business includes the methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives. ERM provides a framework for risk management, which typically involves identifying particular events or circumstances relevant to the organization's objectives, assessing them in terms of likelihood and magnitude of impact, determining a response strategy, and monitoring process. By identifying and proactively addressing risks and opportunities, business enterprises protect and create value for their stakeholders, including owners, employees, customers, regulators, and society overall.

The Faculty of Actuaries in Scotland was the professional body representing actuaries in Scotland. The Faculty of Actuaries was one of two actuarial bodies in the UK, the other was the Institute of Actuaries, which was a separate body in England, Wales and Northern Ireland. While the Faculty of Actuaries and the Institute of Actuaries were separate institutions, they worked very closely together, and the professional qualifications and professional standards for actuaries were identical in each of them. On 25 May 2010, voting members of the Faculty who took part in a ballot voted to merge the Faculty with the Institute of Actuaries, thus creating the Institute and Faculty of Actuaries which came into being on 1 August 2010, superseding the Faculty of Actuaries which ceased to exist on that date.

<span class="mw-page-title-main">FM Global</span>

FM Global is an American mutual insurance company based in Johnston, Rhode Island, United States, with offices worldwide, that specializes in loss prevention services primarily to large corporations throughout the world in the Highly Protected Risk (HPR) property insurance market sector. "FM Global" is the communicative name of the company, whereas the legal name is "Factory Mutual Insurance Company". FM Global has been named the "Best Property Insurer in the World” by Euromoney Magazine.

<span class="mw-page-title-main">Metropolitan College of New York</span> College in New York, United States

Metropolitan College of New York (MCNY), formerly Audrey Cohen College, is a private college in New York City. MCNY is accredited by the Middle States Commission on Higher Education and consists of three schools: The Audrey Cohen School for Human Services and Education, the School for Public Affairs and Administration, and the School for Business. Metropolitan College of New York is set to sell part of its tiny campus to partly alleviate a debt problem as it is struggling to rebuild enrollment after the pandemic and is in dire financial straits. The Metropolitan College of New York is looking to sell two of its floors at the office building at 60 West Street. When the school sell that portion of its campus, it will leave Metropolitan College with only one and a half floors.

James F. Jones Jr. is an American academic administrator and educator. He began his career as a professor of Romance languages and other humanities. His administrative posts have included being vice provost of Southern Methodist University and dean of its Dedman College of Humanities and Sciences; president of Kalamazoo College; president of Trinity College in Hartford, Connecticut; and interim president of Sweet Briar College.

<span class="mw-page-title-main">Maison de la paix</span> Building in Geneva, Switzerland

The Maison de la paix is a building owned by the Graduate Institute of International and Development Studies in Geneva, Switzerland. The building was designed by Eric Ott of Neuchâtel's IPAS firm. It serves as the headquarters for the Graduate Institute and houses the three Geneva Centres, which comprise the Geneva Centre for Security Policy (GCSP), the Geneva International Centre for Humanitarian Demining (GICHD), and the Geneva Centre for the Democratic Control of Armed Forces (DCAF). It is the main element of the Campus de la paix.

Shelby Cullom Davis was an American businessman, investor, and philanthropist from the state of New York. In 1947 he created Shelby Cullom Davis & Company, which became a leading investment firm. He later served as the American Ambassador to Switzerland under Presidents Richard Nixon and Gerald Ford. Originally from Peoria, Illinois, Davis' uncle was Shelby Moore Cullom, who served in the U.S Senate for 30 years and introduced the legislation to create the Interstate Commerce Commission.

Kathryn Wasserman Davis was an American investor, painter, philanthropist, and political activist. She was a longtime promoter of women's rights and planning parenthood. She was committed to engaging local communities, particularly regarding the environment on the Hudson River and Maine coast, and also concerned with access to high-quality education. At the age of 94, she began an artistic adventure, producing more than 200 paintings.

<span class="mw-page-title-main">Shelby M.C. Davis</span>

Shelby Moore Cullom Davis is an American philanthropist and retired investor and money manager.

Michael Roland Powers is an American academic who is the Chair Professor of Finance at Tsinghua University’s School of Economics and Management (SEM) in China. Since 2014, he has held a dual appointment as professor at Tsinghua's Schwarzman College. An internationally recognized risk and insurance expert, he was a 2011 recipient of China’s Thousand Talents Plan award. In 2013, he won the Kulp-Wright Book Award for Acts of God and Man: Ruminations on Risk and Insurance.

EMB Consultancy, also known as EMB Actuaries and Consultants, is an international actuarial business consultancy and software provider. EMB was originally established as a strategic and actuarial advisor to non-life insurers. The company has developed and now operates in a growing range of business functions and sectors, such as banking, investments, asset management, fraud prevention, risk enterprise management, mergers and acquisitions and marketing. These are areas where the widespread collection and use of data and financial models have become commonplace.

<span class="mw-page-title-main">Institute and Faculty of Actuaries</span> UK professional body

The Institute and Faculty of Actuaries is the professional body which represents and regulates actuaries in the United Kingdom.

Patrick L. Brockett is an endowed Chaired Professor within the Information, Risk and Operations Management, Finance, and Mathematics departments at The University of Texas at Austin. He is the Director of the Risk Management and Insurance Program, Director for the Center of Risk Management and Insurance, and Director for the Minor/Certificate in Risk Management Program. He is also an Affiliated Faculty Member in the University of Texas- Austin Division of Statistics & Scientific Computation. He is known for his research in statistics, probability, actuarial science, quantitative methods in business and social sciences, and risk and insurance. The American Risk and Insurance Association (ARIA) endowed and named a research award in his honor: The Patrick Brockett & Arnold Shapiro Actuarial Research Award, awarded to the actuarial journal article that makes the best contribution of interest to ARIA risk management and insurance researchers.

References

  1. http://ny.curbed.com/tags/101-murray-street [ dead link ]
  2. "Davis Library". Archived from the original on 2012-08-27. Retrieved 2012-08-07.
  3. Center for Professional Education Archived 2008-02-08 at the Wayback Machine

40°42′58″N74°00′46″W / 40.71616°N 74.01266°W / 40.71616; -74.01266