Ohio Northern University establishes scholarship for risk management and insurance students
Ohio Northern University has established the John J. Bishop and The Motorists Insurance Group Endowed Scholarship Fund to benefit students in ONU’s new risk management and insurance (RMI) program, which will be introduced by the Dicke College of Business Administration in fall 2014.
The scholarship will provide financial support for qualified ONU freshmen who pursue professional careers in insurance or risk management through the RMI major.
John and Shirley Bishop donated a significant gift to the scholarship fund.
ONU President Daniel A. DiBiasio said, “John and Shirley Bishop, along with The Motorists Insurance Group, understand the value of a great education, and the establishment of this gift demonstrates they are committed to ONU and invested in the future education of our students. The University applauds their continued support and confidence in ONU.”
James W. Fenton, dean of the Dicke College of Business Administration, said, “We are indebted to the Bishop family and their continued commitment and support of the Dicke College of Business Administration and the risk management and insurance program. We would also like to extend our gratitude to The Motorists Insurance Group for its contribution and collaboration on this generous gift. The John J. Bishop and The Motorists Insurance Group Endowed Scholarship Fund will provide financial support to future business students focused on the growing market in risk management and insurance.”
The scholarship is named for John J. Bishop, a 1972 ONU graduate and chairman of the board of The Motorists Insurance Group. The Motorists Insurance Group is an affiliated group of 10 property and casualty and life insurance entities operating in 21 states with more than 5,000 independent insurance agents. Bishop joined Motorists in 1972 and progressed through a series of management positions.
He joined the group’s senior executive team in 1995, was named president and chief operating officer in 2000, and was elected CEO and chairman of the board in 2001. During Bishop’s tenure as CEO, The Motorists Insurance Group more than doubled in size and now ranks among the top 25 mutual property and casualty insurance organizations in the U.S.
Bishop has been actively involved in numerous civic and industry organizations. During his career, he has served as chairman or president of the Ohio Insurance Institute, the Griffith Insurance Education Foundation, the Ohio Association of Mutual Insurance Companies, and the Association of Ohio Life Insurance Companies and on the board of the Ohio Law Enforcement Foundation and the Central Ohio United Way. He also currently serves as chairman of the National Association of Mutual Insurance Companies (NAMIC) and as chairman of the Board of Trustees at ONU.
Bishop is a native of Lima, Ohio, and graduate of Lima Central Catholic (LCC) High School. In 2010, he was inducted into the LCC Hall of Fame for professional achievement. He and his wife, Shirley, were high school sweethearts, reside in Powell, Ohio, and Marco Island, Fla., and are the proud parents of two adult sons, daughters-in-law and three grandchildren.
Ohio Northern is the only AACSB-accredited private institution in the region to offer an undergraduate business major in risk management and insurance. Bloomberg Businessweek magazine has ranked the Dicke College of Business Administration first in Ohio and 14th overall in the nation for academic quality. Ohio Northern also earned high marks in the nine categories used for the rankings, including an “A” in the “Teaching Quality” category. ONU’s overall business program was ranked No. 62 among the top 100 undergraduate business programs in the U.S.
The Dicke College of Business Administration’s risk management and insurance major will prepare the next generation of business leaders to mitigate risk and maximize profits. The major provides students with a solid foundation in understanding the concept of risk, the process of risk management and the field of insurance, including fundamental doctrines, historical background, social value, economic influence, loss exposures and protection, insurance regulation, insurance carriers, reinsurance, marketing, underwriting, and claims adjusting.
“The purpose of the RMI major is to prepare students to identify and evaluate the sources of risk, and to mitigate and control risk with solutions that include insurance instruments and other risk-diffusion methods,” Fenton said. “Graduates of the RMI program can enter the risk management or insurance fields, including positions within insurance firms or benefit consulting firms, brokerage firms, and agency and operations insurance companies.”