The Emmett J. Vaughan Institute of Risk Management and Insurance

News from the Vaughan Institute

Fall 2014

Rod Warren Joins
Vaughan Institute Advisory Board

Rod Warren

Rod Warren, the newest member of the Vaughan Institute Advisory Board, is president of the insurance companies and insurance agencies under the NCMIC Group umbrella, which is located in Clive, Iowa. The companies have a presence in all 50 states and provide insurance products to a variety of audiences, including professional liability coverage for physicians, dentists, chiropractors, and lawyers. Read more...

Board Members Receive
Prestigious Awards

Vaughan Institute Advisory Board Members Loren Coppock and Terri Vaughan were recently honored for their service. Loren Coppock has been named to the Iowa Insurance Hall of Fame and the Association of Professional Insurance Women has chosen Terri Vaughan as the Insurance Woman of the Year. Congratulations, Terri and Loren!

Clay Ottman received an award for scoring the highest average on all the exams out of 1900 CPCU new designees this year. Congratulations, Clay!

Fall 2012

Vaughan Institute Welcomes Greg Elming and TC Heath to the Advisory Board

The Vaughan Institute is pleased to welcome Greg Elming and TC Heath to the Vaughan Institute Advisory Board Greg is Senior Vice President and Chief Risk Officer of the Principal Financial Group. Greg replaces Terry Lillis who was recently named to the Tippie College Advisory Board.

Greg joined Principal in 1982 as a staff accountant. Since then Greg has been promoted through a variety of positions of increased responsibility, including: assistant controller; director-financial reporting; vice president and controller; and to his current position in 2011. An Iowa native, Greg received his bachelor’s degree in accounting from the University of Iowa, and is a Fellow of Life Management Institute (FLMI). I know you will all join me in welcoming Greg to the board. Unfortunately, out-of-country business travel will preclude Greg from attending the May 8 advisory board meeting.

Larry Hershberger, Director, said, “We express our sincere appreciation to Terry for his valuable service and contributions as a board member these past few years. We wish him the best in his new role as a member of the Tippie Advisory Board.” Also joining the Board as liaison from the Vaughan Institute Young Alumni Board is TC Heath. T.C. graduated in 2006 with a degree in finance and the RMI Certificate. After graduating from Georgia State University in 2011 with an M.S. in risk management and insurance, T.C. joined AIG's Enterprise Risk Management group in New York City. As a risk analyst, he is responsible for researching credit markets and collaborating with key business stakeholders to develop firm-wide risk analytics. Prior to joining AIG, T.C. interned at ACE Group as a risk analyst and worked at Crawford and Co. as a property and casualty insurance adjuster. He holds the Associate in Risk Management (ARM) and Associate in Claims (AIC) designations from The Institutes. During his time at the University of Iowa, he found his passion for risk management and enjoys every opportunity to reconnect with his Iowa roots.

Vaughan Institute Young Alumni Board holds its inaugural meeting

The newly formed Vaughan Institute Young Alumni Board held its first meeting on October 19, 2012. Pictured above from left to right: Jon Raftis, Jason McKeever, Catie Sebolt, Tyler Probasco, Erin Wonsmos, TC Heath, and Matt Ryan. David Rigler joined the meeting electronically and isn't pictured above. Learn more about the members.

Fall 2011

Stephen B. Gruppo, Executive Vice President, Risk Manager, TIAA-CREF to speak October 19
USBank Speaker Series

Stephen B. Gruppo, executive vice president and risk manager of TIAA-CREF, will be speaking to the public, faculty, and Tippie students on Wednesday, October 19 at 3:30 p.m. in W151 PBB. His remarks will focus on Managing a Firm’s Risk in an Ever-Changing Business Environment.

As executive vice president and head of risk management for TIAA-CREF, Gruppo oversees all risk-related functions, including market risk, credit risk, quantitative analytics, operational risk, strategic risk, business continuity, and investment valuations. He and his team are responsible for the proper identification, measurement, and management of risk exposures across the enterprise to ensure that the organization's risk-taking activities are understood and effectively managed. Gruppo chairs the company’s Asset Liability Management Committee.

Gruppo has more than 25 years of experience in managing investment-related risks, including credit portfolio risk, market risk, and counterparty credit risk. Prior to joining TIAA-CREF in 2004, he was a senior vice president in the Risk Management Department at Lehman Brothers. He led a team that managed firm's credit risk to corporate and insurance obligors, including all exposures associated with trading, lending, and derivatives counterparty activities. He also led the development of the firm's framework for managing country risk as country risk manager. Prior to this role, Gruppo was head of market risk management for all fixed income trading at Lehman. He was a member of Lehman's Commitments and Fairness Opinion Committees.

Gruppo held various positions in credit risk management and high yield bond sales at CS First Boston and Kidder, Peabody & Co.  He began his career at Chase Manhattan Bank, where he was trained in the bank's Credit Development Program and was a credit officer and relationship manager for commercial banking clients.

Gruppo is a graduate of Hobart College with a B.A. degree in economics.

Addressing the Talent Shortage—
Vaughan Institute Featured in Risk Management's September 11 Issue

Writer Emily Holbrook adresses the need to attract the best and brightest to the insurance industry in her article, The Next Generation (Risk Management, September 2011) . The Vaughan Institue is mentioned as an innovative partnership between the University of Iowa and the State of Iowa that is addressing the issue with an attractive curriculum.

Winter 2010-11

Advisory Board Member Terri Vaughan Named 100 Most Powerful People in the Insurance Industry, North America

Vaughan Institute Advisory Board member Terri Vaughan has been named by Insurance Broadcasting and the Insurance Media Association as one of the top 100 most powerful people in the insurance industry in North America. Named the "Insurance Dream Team," professionals making this list are organized into 21 different categories, ranging from Super-Icon Status, to and Reinsurance. Terri Vaughan is listed with three other individuals in the Insurance Regulation category. We congratulate Terri Vaughan on this well-deserved honor.

Des Moines Business Record reports: "Institute sows sees for insurance industry's future."

"Named for the late Emmett J. Vaughan, who established a highly regarded insurance education program at Iowa in the 1960s, the institute provides a critical talent pipeline for the risk management and insurance industry, said Dana Ramundt, who spearheaded the effort to establish the institute." (Business Record, February 11, 2011). The article, written by Joe Gardyasz, was the feature in the February 11 edition of the Business Record. It highlights the experiences of two graduates, Erin Wonsmos and Jon Raftis, and chronicles the development of the institute.

Business@Iowa—Mentoring: Another Layer of Learning

For Risk Management and Insurance Certificate juniors and seniors, there's a one-of-a-kind layer between the classroom and the internship—it's the mentoring program. The program, run by a steering committee of industry professionals, recent graduates, students, and administrators, draws professionals closer to the University of Iowa while connecting students to industry professionals. To learn more, read the Winter 2010-11 Business@Iowa article: Mentoring: Another Layer of Learning.

RIMS Podcast Series Features Vaughan Mentoring Program

The Risk and Insurance Management Society has developed a series of five podcasts on mentoring to assist both risk management professionals, who serve as mentors, and student/young professionals interested in finding mentors. Hal Larson, who initiated the Vaughan Institute Industry Mentors Program; Viana Rockel, associate director of the Vaughan Institute; and former students Jon Raftis and TJ Anderson are featured speakers in several of the podcasts. The podcasts are available on the RIMS website.

September 2010

RMI Lecturer Scott Fisher to Speak at Iowa Nonprofit Summitt

The Iowa Nonprofit Summit is begin held in Ames on November 15-16, 2010, and lecturer Scott Fisher will present at the summit on Monday, November 15, 2010, 2:45-4:15 p.m. His workshop will discuss risk management basics for nonprofits, including risk classification, tools of risk management, such as risk control and risk financing, and a six-step risk management process. Fisher will also take a look at ways in which nonprofits implement their risk management decisions.

August 2010

AEGON Transamerica Foundation Gives $1 Million to Vaughan Institute

The AEGON Transamerica Foundation has committed $1 million over the next two years to support the Emmett J. Vaughan Institute of Risk Management and Insurance at the University of Iowa. The gift, made through the UI Foundation, will create the AEGON Transamerica Fund for Excellence at the Vaughan Institute, which is part of the UI's Henry B. Tippie College of Business. The fund will provide for faculty development; research projects; support for student internships, scholarships, conference attendance and leadership development opportunities; and to support the institute's overall program excellence. Read the UI Foundation news release.

September 2009

Iowa Researcher Points Out That Health Insurance Really Isn't Insurance

Lost in the debate over a public option health insurance plans, says a University of Iowa expert, is the fact that health insurance differs from other types of insurance. Read the University of Iowa news release.

August 2009

Leadership Opportunity

Three Tippie students participated in the first Leadership Iowa University, a program sponsored by the Iowa Association of Business and Industry. Two students—T.J. Anderson and Jon Raftis—are enrolled in the Risk Management and Insurance Certificate program, and Nick Litwiller has taken several RMI courses. The one-week leadership program, held August 9-13, educates, inspires, and develops young leaders. It encourages their involvement in organizations, communities, and the state of Iowa.

June 2009

Leverty Receives Collegiate Teaching Award

Ty Leverty is one of 20 Iowa faculty members who have been awarded Collegiate Teaching Awards for the 2008-09 academic year.

Leverty is an assistant professor of finance and TRISTAR Risk Management Fellow, as well as a faculty member in the Emmett J. Vaughan Institute of Risk Management and Insurance. He is an expert in risk management and insurance, particularly in the economics of insurance markets, insurance regulation, and public policy issues in insurance. The awards represent the highest honor a college bestows on its faculty for excellence in undergraduate and graduate teaching. Read the news release.

May 2009

3rd Annual Dana Ramundt Insurance Education Foundation Golf Outing, Thursday, August 20, 2009

Meet students involved with the Vaughan Institute and witness firsthand their interest and passion for the industry. Sign up for the Golf Outing today. The event, which is held at Finkbine Golf Course in Iowa City, is a benefit fundraiser for undergraduate students pursuing insurance education at the University of Iowa. To learn more about the event, registration fees and sponsorship opportunities, contact Dana Ramundt.

March 2009

Special Award Honors Adjunct Lecturer Donna Pearcy

Donna Pearcy has brought risk management to a new level of awareness. The adjunct lecturer for the Vaughan Institute serves as the University of Iowa’s chief risk officer. As such, Pearcy has been the leading staff member in planning for and responding to the 2008 flood. On April 1—almost a year after flood-planning meetings began—she received the Distinguished Leadership Award at the annual Celebration of Excellence and Achievement Among Women held at the Old Capitol. Read more....

November 2008

Independent Insurance Agents of Iowa Support Tops $175,000

The Vaughan Institute of Risk Management and Insurance is privileged to work with many supportive industry partners. A partner since the formation of the institute five years ago, the Independent Insurance Agents of Iowa (IIAI) deserves special recognition. Proudly representing the business interests of nearly every independent insurance agency in Iowa (nearly 8,000 agents), this association of dedicated insurance professionals and agents was the first to step forward with a gift to help make the institute a reality. “IIAI’s most recent gift of $19,850 brings the association’s support to more than $175,000 since the inception of the institute,” says Bob Skow, chief executive officer. Larry Hershberger, director of the Vaughan Institute, pointed out “The first $100,000 provided seed money we needed to establish the institute, and IIAI has since pledged an additional $100,000 for student support.” Gifts from this second pledge, which includes the most recent donation, have funded such critical needs as student internships, scholarships, and a resource center for Risk Management and Insurance Certificate students.”

September 2008

UI Research Shows Tort Reform Sometimes Lowers Insurance Premiums

Ty Leverty, TriStar Risk Management Fellow and assistant professor of finance in the Tippie College of Business, recently studied how insurance companies respond to tort reform laws passed by state legislatures. The laws are designed to limit financial awards that can be paid to plaintiffs in liability lawsuits, which saves the insurance companies money and should keep the cost of premiums under control for consumers. Read more....

IIFSEFS Offering Scholarships to RMI Students

The Iowa Insurance and Financial Services Education Foundation is offering two $2,500 scholarships to a full-time undergraduate students completing the Risk Management and Insurance (RMI) Certificate offered through the Vaughan Institute of Risk Management and Insurance for academic year 2009-10. The award is renewable and is available to U.S. students and permanent residents. Students will be asked to complete an essay, and finalists will interview with the institute and the foundation. Preference will be given to students completing an internship with the Iowa insurance and financial services industry. The deadline to apply is October 21, 2008. For more information or to pick up an application form, contact Viana Rockel, 319-335-1015, S230A PBB,

August 2008

Leverty Named TRISTAR Risk Management Fellow

Ty LevertyJ Tyler (Ty) Leverty, assistant professor of finance in the Vaughan Institute of Risk Management and Insurance, has been named the TRISTAR Risk Management Fellow. Leverty teaches Principles of Risk Management and Insurance and Corporate and Financial Risk Management, the two core courses for the Vaughan Institute’s Certificate of Risk Management and Insurance. Leverty earned a Ph.D. in risk management and insurance at Georgia State University and a B.A. in economics and history at the University of Washington. He joined the finance faculty in the Tippie College of Business in 2005. Ty has expertise in the economics of insurance markets, public policy issues in insurance, financial institutions and markets, and productivity and efficiency. His capability to contribute to the understanding of the markets, firms, and institutions that characterize the insurance industry is documented by three recent research awards: (1) the State Farm Companies Doctoral Dissertation Award; (2) the Casualty Actuarial Society Award for the Best Paper at the 2005 World Risk and Insurance Economics Congress; and (3) a $6,000 honorarium to present at the Searle Center-Northwestern University Research Symposium on Insurance Markets and Regulation. The TRISTAR Risk Management Fellowship was established through a gift from Tom J. and Debbie K. Veale of Palos Verdes Estate, Calif. The Veales made their gift to the UI Foundation through their company, TRISTAR Risk Management, a third-party claims administration firm in Long Beach, Calif. Tom earned his B.A. in accounting in 1980, and Debbie is a 1981 graduate of the UI Pharmacy School.

July 23, 2008

Best of the Corridor: TrueNorth Companies—Runner UP: AW Welt Ambrisco

Two Vaughan Institute partners were recently recognized by the Corridor Business Journal (July 28-August 3, 2008). Congratulations to TrueNorth Companies for being named the Best Insurance Agency in the Corridor and to AW Welt Ambrisco as runner up. TrueNorth was established in 2001 and has a staff of about 200 people. They regularly host interns from the Vaughan Institute and Loren Coppock, managing director and principal, serves on the Vaughan Institute Advisory Board.

July 23, 2008

Institute Receives Grant from Griffith Foundation for Insurance Education

The Robert P. Ashlock Memorial Fund, established at the Griffith Foundation for Insurance Education by Assurex Global, has awarded the Emmett J. Vaughan Institute of Risk Management and Insurance an $8,000 grant to improve the curriculum of the Certificate in Risk Management and Insurance. The grant will support the salary for an adjunct faculty member to teach a third section of the Principles of Risk Management and Insurance course fall semester 2008. This additional course offering will strengthen the growth of the program and increase the number of students who can achieve the RMI Certificate in four years. Assurex partners in Iowa are Cottingham & Butler Inc. (Dubuque, IA) and LaMair Mulock Condon Co. (West Des Moines, IA).

July 2008

2nd Annual Dana Ramundt Insurance Education Foundation Golf Outing

The second-annual Dana C. Ramundt Insurance Education Foundation golf outing to benefit students in the Risk Management and Insurance Program at the University of Iowa will be held at Finkbine Golf Course on 8/21/08. Registration begins at 10:30 a.m. followed by a box lunch. Shotgun start for this four-person scramble is at noon. At 4:30 p.m., there will be introductions, awards, and a reception. Risk Management and Insurance students who attend will have the chance to receive monetary prizes and awards. Students may download a reservation form or obtain one from Golfers may register by downloading the reservation form or by contacting Dana Ramundt at Minimum cost is $180 per person.