April 12, 2005

NEW PROGRAMS - IN SEARCH OF FUNDING

IEI continues to reach out to more high school teachers and students. At the recent board meeting, the Board of Directors approved three new programs aimed at ratcheting up the number of students being provided quality instruction in risk management.

The three new initiatives are focused strictly on educating teachers, educating students, and measuring the effectiveness of the Institute programs. We will create an online Institute for those teachers who cannot attend a summer Institute, partner with another financial services foundation to create a web-based insurance module for students, and conduct an impact study to measure the improvement in knowledge of students after completing an insurance course taught by an Institute graduate.

We estimate that are 100,000 educators in the U.S. who are currently in the classroom teaching insurance principles and risk management through various course curriculum. Adding these new tools will expedite our efforts to provide them with quality education programs and classroom materials that will enhance the level of understanding of their students.

Unfortunately, the cost of adding these three programs was not included in the approved 2005 business plan or budget. The Board and staff, however, believe strongly that we must expand our efforts to educate young people about managing the risk in their lives.

These three new programs will cost $120,000 in additional funds, on top of the $190,000 in increased contributions already budgeted for in 2005. So, as you can see, our challenge is to convince more companies to join in the mission of IEI. As you talk to your industry peers, please let them know that our industry has a responsibility and an opportunity to inform and educate young people on insurance and risk management. It is good public policy and good for business.