Baldwin Risk Partners Donates $5M to USF for Insurance Program
Tampa-based Baldwin Risk Partners Group and the family behind it this week announced a $5 million gift to the University of South Florida to boost the school’s risk management and insurance program.
It’s the largest gift in the history of USF’s Sarasota-Manatee campus, the university said in a statement Wednesday.
“BRP’s milestone investment will allow the University of South Florida to grow the school into a powerhouse in risk management and insurance education and prepare future generations of insurance industry leaders for high-demand roles that are critical to supporting Florida’s economy,” said USF President Rhea Law.
USF will rename its program the Baldwin Risk Partners School of Risk Management and Insurance.
U.S. Department of Education data suggest that the insurance business can provide a comfortable income for young graduates. Those majoring in insurance command higher median salaries two years after graduation than students from the same universities who major in other business fields, such as management, marketing, finance or accounting. Data from MyFloridaFuture.com shows that starting salaries average $50,000 annually and graduates report earning upwards of $80,400 per year within five years, the USF news release said.
BRP Group calls itself an independent insurance brokerage and distribution holding company, with some 1.2 million clients around the country and internationally. Founded in 2011, the firm and its subsidiaries have grown significantly in recent years through acquisitions of brokerages and agencies.