News Release: PEMBROKE, Bermuda – Bermuda College Foundation (the Foundation) and Bermuda College (the College) officials joined members and friends of the Bermuda Insurance Institute (BII) recently, to celebrate the passing of the mantle of re/insurance education and talent development from the BII to the College.
Last year when BII executives began to strategise about the future of the organisation, the Foundation Chairman, Mark Berry recognised that the goals of the College and BII are aligned. Subsequently, the BII membership unanimously resolved to wind up its affairs and transfer surplus funds to Bermuda College Foundation.
During the celebratory evening, the significance of the occasion was noted by Mr Mark Berry. He stated: “The invaluable work of the BII was made possible by the amazing partnerships from the corporate community. This is a comprehensive initiative, that ultimately will deliver a consolidated platform that positions Bermuda College to provide optimal access and support for local education in re/insurance and its supporting professions.”
To illustrate of the progress made to expand the College’s insurance programmes, several initiatives were highlighted:
• In consultation with the BII, Bermuda College has established two courses in the insurance concentration that will allow students waivers for two CPCU exams, CPCU500 and 520 respectively. Two additional courses, based on offerings of the BII, will also be added in the next academic year.
• The College has developed a Re/Insurance Advisory Board, currently comprised of: Catherine Duffy, Marc Grandisson, John Huff, Sylvia Oliveira, Robert Patton, Tim Tetlow, Shannon Totten, and Richard Winchell; College professors: Craig Simmons and Kayla Bridgewater (Bermuda College), Dr Mark Brown (St. John’s University) and Stefanos Orfanos (Georgia State University); and Bermuda College alumni: Dejanee Hill Edwards and Taiyana Allen, to advise the College on its insurance curriculum.
• Bermuda College currently offers several transfer agreements specific to re/insurance and actuarial science, including programmes offered by: Eastern Kentucky University, Georgia State University, St. Francis Xavier, St. John’s University and Temple University.
• There is also an intention to adopt as many of the historic Bermuda Insurance Institute seminars, workshops, and conferences as possible, to compliment current educational offerings. “The mission of Bermuda College Foundation is to cultivate and secure philanthropic partnerships. This strategic education transition provides the Foundation the opportunity to establish relationships with all the former members of the BII. The objective will be to garner ongoing financial support to assist the College in preserving and developing further, re/insurance education and talent development,” stated Mr Berry.
Bermuda College Vice President, Dr Phyllis Curtis Tweed stated, “Partnerships like these can help the College to achieve its goal to create a world class two-year Insurance and Risk Management Programme recognised as accredited and equivalent to the first two years for any insurance and risk management programme in the United States, Canada, and UK.”
The College has identified three stages of the education journey that it will work with its industry partners to address to prepare talent: generation of candidates at the high school level, development of talent at the college level, and transition into and completion of the last two-years – by expanding core partnerships with universities and facilitating the path toward employment.
“We need community support in providing resources for students and ensuring that the College can develop a state-of-the-art facility that communicates excellence and shows that Bermuda College students are valued. It is a critical need for equity in education and society overall, that the College be successful, and provides the facilities and programmes that rival those overseas.”
Corporate and private donors are encouraged to donate to Bermuda College Foundation as an investment in our college is an investment in our Bermuda and our future”. For more information, please visit www.bermudacollegefoundation.org.