Marsh, Farmers Capture IEA Award

Two well-known insurance companies have walked away the inaugural winners of the Roger L. Smith Excellence in Education Award from the Insurance Education Association (IEA).

Marsh and Farmers were named the winners of the award, which honors the past president of the CPCU Society and President of the IEA for 25 years.

According to the IEA, Marsh was honored for its efforts, including: its long-standing, monthly in-house technical training program; its nearly 1,000 students participation in IEA programs annually; a strong tuition reimbursement program; consistent and long-standing provision of donated space for public continuing education insurance classes; consistent and long-standing support through space donation to and governance participation in the CPCU Society; and active participation on the IEA Board of Trustees.

Farmers was honored for a number of reasons, including: its placement of distance learning links on its agent and company “dashboard” (intranet); recent grant to fund IEA distance learning; its close to 500 student participation in IEA programs annually; strong tuition reimbursement program; consistent and long-standing provision of donated space for public continuing education insurance classes; its consistent and long-standing support through space donation to and governance participation in the CPCU Society; and active participation on IEA’s Board of Trustees.

“IEA considered all 166 of its member companies as viable candidates but the Board had the leeway to select from outside IEA membership as well,” newly elected Chairman of the IEA Board of Trustees Bill Mudge, commented. “It’s fair to say at least another 30 companies were legitimate possibilities.”

When asked how difficult the decision was among the companies considered, Mudge noted, “The Board was especially sensitive to insuring the inaugural winners of this new award were clearly worthy of this prestigious award. “There were seven finalists but once the activities of Marsh Risk and Insurance Service and the Farmers Insurance Group were put on the table, it was apparent to all that they ‘cleared the bar’ and the vote was unanimous. With the hard market a reality for all, it is more apparent than ever that a skilled staff is the key to success. IEA wanted to call attention to companies that act in ways that demonstrate their understanding of this fact.”

While many other companies were in the running for the award, Mudge pointed out that IEA wanted to keep the number of winners at two.

“We are aware that there are other companies that do (and will) demonstrate a commitment to continuing education and are deserving of recognition but we are deliberately limiting our award to up to two companies a year to insure that those deemed most deserving are so formally recognized,” Mudge said. “A 126-year history in insurance education puts IEA in a unique position to recognize others with a similar understanding of the value of continuing education. Skills erode no matter who we are and it is those companies that invest in addressing this natural erosion that should be the model for others. This award was created to shine a spotlight on those companies.”

The IEA has honored recognized individuals in the industry that have made a significant contribution to the insurance community and continuing professional development since 1982 in the name of Ben Masters, IEA’s executive director from 1959-75.

Mudge said when considering a name for an award honoring companies, Smith’s was a “no brainer.”