Campbell University’s Lundy-Fetterman School of Business has launched the Risk Management Institute (RMI), a new program aimed at preparing students for careers in the insurance and risk management industries. The initiative, led by Dr. Michelle Flynn Osborne, is supported by $2.5 million in funding from the General Assembly.
Osborne, an associate professor and department chair for business administration and economics at Campbell, previously served as chief deputy commissioner for the North Carolina Department of Insurance. She shared her personal experience with insurance at a ribbon-cutting ceremony on Tuesday, highlighting its role in financial planning and risk mitigation.
“The insurance industry is in need of new, young employees, because more than half of the workforce is set to retire in the next few years,” Osborne said. “Students don’t always realize the opportunities in risk management and insurance, which offer both financial stability and the ability to assist others.”
Undergraduate business students at Campbell can study risk management as a concentration within the school’s nine majors, while graduate students can select it as part of their MBA curriculum, both in-person and online. The RMI offers mentoring from industry professionals, internship opportunities, professional licensing preparation, and global exposure through international travel programs.
The remodeled space for the RMI includes a meeting room, study area, and a podcast room. Currently, approximately 25 undergraduate students are enrolled in Osborne’s risk management class, with nearly 50 graduate students participating in the MBA program. Enrollment is expected to increase as the program develops.
The launch of the initiative follows Hurricane Helene, one of North Carolina’s most severe natural disasters, which resulted in nearly 100 fatalities and an estimated $60 billion in damage. A Federal Emergency Management Agency (FEMA) report indicated that approximately 93 percent of the flood-damaged homes verified by FEMA lacked flood insurance.
Dr. Kevin O’Mara, dean of the School of Business, highlighted the program’s role in expanding the university’s financial service offerings, which include the trust and wealth management program, the Center for Financial Literacy, student-run investment funds, and the Volunteer Income Tax Assistance program.
“We are adding the Risk Management Institute, which will provide students with valuable experiences, internships, and career opportunities while also supporting the state’s insurance industry,” O’Mara said. “Dr. Osborne brings a passion for education, industry collaboration, and service to the state.”
Industry leaders, state representatives, and officials from the North Carolina Department of Insurance attended the launch event. Commissioner of Insurance Mike Causey, in a video message, expressed confidence in Campbell’s potential to contribute to the field. State Sen. Jim Burgin, who played a role in securing funding for the initiative, commended Osborne’s leadership and expertise in advancing the program.
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