The primary reason we decided to start a scholarship was the gratitude we felt toward those who provided funding for the scholarships we earned while in medical school. We wanted to start something that would grow as our careers grew.

Dr. Molly Hinshaw (’94 BS EDU, ’00 MD), on the medical school scholarship established with husband Dr. Louis Hinshaw (’94 BS L&S, ’00 MD)

Education Insured Alumnus' Success

“I have long planned to ‘pay back’ the department of Risk Management and Insurance at Madison for the education that made my career possible,” said Gerald “Jerry” D. Stephens (’55 BBA). And quite a career it was.

Jerry earned his Chartered Property and Casualty Underwriter (CPCU) designation in 1960 and founded RLI in his native Peoria, Illinois shortly thereafter. RLI Corp. is a multi-line property/casualty company that writes a variety of specialty coverages. Jerry’s creative leadership set RLI apart as one of the first insurers of contact lenses in 1961. Although Jerry recently retired as CEO, he remains chairman of the board.

Jerry has made a $1.5 million gift to the School of Business to establish the Gerald D. Stephens, CPCU, Chair and Program Fund in Risk Management and Insurance. The gift will not only provide support to a top educator and researcher in risk management and insurance, it also will support scholarships and participation at regional and national meetings, as well as risk and insurance research.

“Jerry Stephens’ generous gift will be of enormous help to the Risk Management and Insurance Program in maintaining its place as one of the premier programs in the world,” said School of Business Dean Michael M. Knetter.
Professor Mark Browne is the first recipient of the Gerald D. Stephens, CPCU Chair. Mark is professor of actuarial science, risk management and insurance and his areas of interest include principles of risk management, employee benefits and government insurances programs.

“Education is more important than ever and the quality of the workers will separate the successful insurance companies from the less successful ones,” Jerry said. “The key to success, without a doubt, is to surround yourself with outstanding people.”

Jerry serves on the Dean’s Advisory Board in the School of Business and was named 2003 Distinguished Alumni by the UW-Madison Risk Management and Insurance Program. Jerry and his wife Helen reside in Peoria, Illinois and Savannah, Georgia. They have four children and seven grandchildren.