Extreme events on the rise - prompting need for trained insurance and risk management talent

Calgary, AB – An alarming $3.1 billion in insured losses were due to catastrophic events in Canada in 2022. As extreme weather becomes more frequent, disastrous events are impacting more people. The insurance industry has always provided a way to help manage uncertainty. Now more than ever, insurance and risk management professionals are needed to build resilience as we face more extreme events.

“Private insurance plays an essential role in supporting the resiliency of communities facing losses from disaster. The industry is increasing in complexity as private insurance and public policy often overlap when it comes to disasters. There is a need for well-trained professionals.”

Dr. Anne Kleffner, PhD, Professor and Chair Insurance and Risk Management, Haskayne School of Business.

30 years of preparing professionals
For over 30 years, Haskayne has developed risk management and insurance professionals, with the first class graduating in 1993. Many of these first graduates have grown with the industry – as the risks we face today are much different than those experienced in 1993. Beyond systematic risks, the insurance industry is also helping to manage losses due to cyber-attacks, supply chain disruption and severe weather.

The program at Haskayne is the only Risk Management and Insurance undergraduate concentration in English Canada. In 2017, the program was designated a Global Center of Insurance Excellence (GCIE) and is the only university in Canada to receive the GCIE designation from the International Insurance Society.

“Haskayne leads in creating the professionals for tomorrow because we invest in our program,” says Dr. Kleffner. “We have developed opportunities for students to travel to London and Bermuda to explore the global insurance industry, engage in course projects that have students working directly with risk managers and insurance brokers and underwriters, and participate in Days of Discovery in Toronto, meeting with risk professionals and learning about career opportunities.”

Students specializing in risk management and insurance has remained steady, yet interest from employers to hire has continued to increase. Many companies hire year after year from the program and the field looks like it will only continue to grow.

Developing talent for the future
It takes a commitment of resources and time to develop a professional in risk management and insurance with the average student taking four years to complete their degree. Over the past three decades, Haskayne has graduated 510 graduates in insurance and risk management with many of these alumni holding senior positions in the insurance industry and corporate risk management roles.

RMIN graduates are sought after by industry recruiters who come to the school for an annual career fair, resulting in a 100 per cent job placement for graduates. While in the program, students have the opportunity to experience insurance makets including London, Bermuda, Toronto and Calgary.

“My Haskayne education has provided me a career where I have traveled to some of the world’s most incredible places, I’ve learned from many of the profession’s best practitioners, and I’ve participated on a number of fascinating projects.”

Javier (Hobby) Pardo, BComm’94 and 2023 Risk Management and Insurance Distinguished Alumni Award Recipient

Research and leadership
In addition to undergraduate studies, the Risk Management area at Haskayne contributes to the body of research regarding risk management and the insurance industry. Professor Anne Kleffner, Chair, Insurance and Risk Management has co-authored research that highlights the need for the government to support an insurance risk-sharing pool for properties that are at high risk during natural disasters and to provide a safety-net for large losses.
 

Media availability

Dr. Anne Kleffner, PhD is available for interviews regarding the importance of insurance and risk management education for business professionals, Canadian insurance industry, public policy in relation to the insurance industry, government sponsored risk-sharing pool, and risk in relations to natural disasters such as fire, flood and earthquakes. View articles she has previously published for The Conversation Canada.

Select alumni may also be available for interviews.

Media inquiries

Karen Perl-Pollard
Senior Communications Strategist, Haskayne School of Business
403.220.6153
Cell: 403.620.7260
karen.perl.pollard@haskayne.ucalgary.ca

About the University of Calgary
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About the Haskayne School of Business
The Haskayne School of Business was founded at the University of Calgary in 1967, and was named in honour of Richard F. Haskayne, OC, AOE, FCA, in 2002. The business school has approximately 4,000 full- and part-time students enrolled in bachelor's, master's, doctorate and executive education programs, and stays connected with its more than 30,000 alumni in 91 countries worldwide. Haskayne is where big ideas come to life and bold leaders thrive. Our mission is to create innovative research, unparalleled learning opportunities and meaningful engagement with our community.

For more information, visit haskayne.ucalgary.ca or follow on Twitter @HaskayneSchool.