The University of Southern Maine Foundation (USMF) announced the successful completion of a $3 million campaign to fund the MEMIC John T. Leonard Endowed Chair in Risk Management & Insurance (RMI) at an event on the University’s Portland campus. Following the generous support of The MEMIC Group, Cross Insurance and other industry partners, this landmark achievement marks a critical step in growing USM’s RMI program and advancing education and career opportunities in an important industry for Maine’s economic development.
“This is a major step for both Maine and the rest of New England,” said Jacqueline Edmondson, President of USM. “Our region is an insurance hub, so when we send successful graduates of a strong RMI program into the workforce, we raise the bar on student success and contribute to the business talent pool already present in our community. That connection to career and community is a hallmark of the USM experience.”
The RMI program at the University of Southern Maine prepares students for dynamic careers in the insurance industry, including property and liability insurance, health insurance, disability insurance, and life insurance. Housed within USM’s AACSB-accredited School of Business—an achievement earned by fewer than 5% of business schools worldwide—the program offers a high-quality education recognized by employers. Students benefit from strong industry connections in Southern Maine, guided by PhD faculty with deep professional networks.
“When I think about who will benefit from this program, I envision ambitious graduates stepping into roles at companies like MEMIC, across Maine and beyond,” said Michael Bourque, President and CEO of MEMIC. “With Professor Kerr at the helm, USM is offering a curriculum designed to tackle the critical challenges facing the RMI and insurance industries – climate change, cyber risks, emerging markets, and many others – empowering graduates to drive progress and resilience, and creating a pipeline of talent for years to come. I see an industry enriched by their contributions.”
USM’s RMI program has a proven track record of success, with over 90% of graduates securing positions in the industry within months of graduation. The MEMIC Endowed Chair ensures the continuation of this legacy by enhancing the program’s capacity to attract top-tier faculty, provide cutting-edge education, and foster connections between students and industry leaders.
Dana Kerr, Associate Professor of Risk Management and Insurance at USM, will be the inaugural holder of the endowed chair. Professor Kerr expressed his appreciation for the milestone, stating, “This chair represents more than just an academic position; it’s a bridge between education and opportunity, preparing students for the many well-defined career paths in the RMI field. I am honored to take on this role and excited to contribute to the future of our program.”
Industry partners contributing to the campaign, along with MEMIC and Cross Insurance, include Acord Corporation, Clark Insurance, CorVel Corporation, Gen Re, Heller Insurance and Financial, Maine Employers Mutual Insurance, MMG Insurance Company, Patriot Insurance Company, Patrons Oxford Insurance Company, Pierce Atwood LLP, United Insurance Group, and USI Insurance Services.
For more information about the RMI Program at USM, please visit https://usm.maine.edu/academics/academic_programs/risk-management-and-insurance/.