- BRP Group and company founders the Baldwin family announced on Wednesday a $5.2 million donation to the University of South Florida for its School of Risk Management and Insurance
- The donation will be allocated for educational programs within the risk and insurance fields
- Following the gift, the university is renaming the School of Risk Management and Insurance after the Baldwins
The Muma College of Business at the University of South Florida (USF) and BRP Group, Inc., a Tampa-based independent insurance distributor, today announced a $5.2 million donation from the business and the company-founding Baldwin family to the school’s School of Risk Management and Insurance.
The university will rename the current School of Risk Management and Insurance as the “Baldwin Risk Partners School of Risk Management and Insurance” with effect immediately. The gift, which is the largest in the history of USF’s Sarasota-Manatee campus, will support educational programs in the risk and insurance fields.
“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 faces a talent gap as a result of technological disruption and an aging workforce, according to a university release. 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 comparable industries.
In addition, just 25 percent of the insurance workforce is under the age of 35, according to a 2019 report from the International Risk Management Institute. Just one other Florida university offers a full major in the discipline and there are fewer than 10 risk management and insurance programs nationwide, each producing about 50 graduates annually, per the release.
“Our firm has a deep commitment to each of our key stakeholders, which include our clients, our colleagues, insurance company partners and our communities,” said Lowry Baldwin, chairman and co-founder, BRP Group. “We’re proud to support the risk management discipline through this partnership to develop a world-class educational program. This investment will broaden awareness of the diversity of career options available within this field of study and fuel the next generation of industry leaders.”