USF Sarasota-Manatee business school gets $5 million gift

SARASOTA, Fla. (WWSB) - The business school at the University of South Florida Sarasota-Manatee has received a $5.2 million gift to bolster it’s insurance and risk management curriculum.

At a presentation Wednesday, the school’s Muma College of Business accepted the grant from BRP Group, Inc., of Tampa, and the Baldwin family.

The commitment is the largest in USF Sarasota-Manatee’s history, will support educational programs in the risk and insurance fields and the university has renamed the existing School of Risk Management and Insurance as the Baldwin Risk Partners School of Risk Management and Insurance.

“BRP’s milestone investment will allow the University of South Florida to grow the school into a powerhouse in risk management and insurance education and prepare future generations of insurance industry leaders for high-demand roles that are critical to supporting Florida’s economy,” USF President Rhea Law said.

The insurance industry is facing a talent gap because of an aging workforce, the school says. The number of insurance employees over the age of 55 has increased by 75 percent in the last 15 years and is nearly 30 percent higher than in other industries.

There are also not enough college programs to address this challenge – there are fewer than 10 risk management and insurance programs nationwide, each producing about 50 graduates annually.

The gift will provide scholarships as well as resources to support student engagement with industry leaders via case competitions. The school will hire additional faculty-scholars and support industry-education outreach programs.