Insurance Studies Program

Attendees at the Insurance & Financial Services Center Internship Dinner, August 25, 2009. (Submitted photo)

Al Berryman, CPCU, CLU; Program Director

Announcements

• Ed Lujan, Branding Iron Award: NMSU Foundation presents awards, announces campaign milestone at annual dinner. Mr. Lujan’s vision and steadfast support helped make our Insurance Studies program and the IFSC a reality at NMSU.
• Read about our Insurance & Financial Services Center Internship Dinner
• Newsletters for our students and industry supporters.

Overview

Students can obtain a Minor in Insurance through our Insurance Studies program. We offer the only Insurance Studies program in the mountain states region. This program is renowned for its highly qualified faculty and strong industry support. Our network of industry and governmental connections through the Insurance and Financial Services Center (IFSC) allows us to provide you with a variety of opportunities not typically found in other business programs. See the degree plan and sample schedule.

The IFSC supports our students by providing internships, scholarships, and post-graduation career opportunities. You can also minor in Insurance Studies. (NMSU’s Math Department has an associated program in Actuarial Science.

Individual Advising

From the day you join the insurance program, you will be assigned an individual advisor with insurance industry experience and connections.

Internships/Co-ops and Scholarships

You become eligible for numerous internship opportunities in the insurance field. You can acquire valuable, real-world experience and earn academic credit as well.

Course Work

In addition to the business core curriculum, insurance students take specialized coursework in insurance-related topics such as:

Samples of Careers in Insurance

Completion of the Insurance Studies program at NMSU opens the door to a wide variety of careers in the insurance industry, including many opportunities right here in New Mexico. Insurance is a great field for students of all types. Those with an entrepreneurial spirit may aspire to become independent agents with their own agencies. Those who prefer security and structure may be better suited for positions in corporate insurance companies. Students with strong quantitative and analytical skills may enjoy careers as actuaries or underwriters. Those who are more people-oriented may find their ideal career as agents or in marketing departments.

The insurance industry employs more than 2.3 million people. According to the Bureau of Labor Statistics, the insurance industry is one of America’s largest employers. With an ever-increasing need for insurance products and financial services, skilled professionals will be in high demand for many years to come.

Insurance and Actuarial Science Industry Links

• AMERICAN INSURANCE ASSOCIATION. The American Insurance Association is the trade and service organization of more than 400 property and casualty insurers. The site has publications and position papers on important insurance issues.
• AM BEST. Major financial rating agency for both Life/Health and Property/Casualty companies. Free sign up allows access to ratings.
• THE AMERICAN COLLEGE. This is an accredited, non-profit educational institution that provides graduate and undergraduate education, primarily on a distance basis, on financial services. This includes the Chartered Life Underwriter designation (CLU) and the Chartered Financial Consultant (ChFC) designation.
• THE AMERICAN INSTITUE FOR CPCU. This is another non-profit educational institution with a vary wide variety of education programs and certification for people in the Property and Casualty field, including the Chartered Property and Casualty Underwriter (CPCU) designation.
• BE AN ACTUARY. One of the hottest, highest paying jobs in the country today is that of an actuary. This site gives a description of the career of an actuary and the requirements to become one. The insurance minor program at NMSU would be a great foundation for this career.
• COALITION AGAINST INSURANCE FRAUD. This is the site of an alliance of consumer, law enforcement and industry groups that fight insurance fraud. Good examples of insurance fraud.
• INSURANCE INFORMATION INSTITUTE. An excellent site for information on property and liability insurance. III provides timely consumer information and great background information on a variety of insurance subjects.
• INDEPENDENT INSURANCE AGENTS AND BROKERS OF AMERICA (IIABA). The nations oldest and largest association of independent agents with over 300,000 members. Good consumer information and the home of “Virtual University” a great source of information and classes on insurance. See Al Berryman for access to Virtual University.
• INDEPENDENT INSURANCE AGENTS OF NEW MEXICO, INC. The state association of the IIABA and strong supporter of NMSU’s insurance program. They have a career section that is free to students. Good source of information on New Mexico legislative activity.
• INSURE.COM. This site has timely consumer information on auto, home, life and health insurance.
• LLOYD’S OF LONDON. Good site for the history of Lloyd’s, global insurance markets, and key events.
• THE NATIONAL COUNCIL ON COMPENSATION INSURANCE. This organization develops and administers rating plans and systems for workers compensation insurance including for New Mexico.
• NEW MEXICO WORKERS’ COMPENSATION ADMINISTRATION. This state agency administers the workers compensation law for New Mexico. Good site for information about workers’ compensation in the state.
• SOCIAL SECURITY ADMINISTRATION. This is the federal agency that administers the Social Security program and provides current information on retirement, survivor and disability benefits.