"I entered this internship thinking it was going to be just what my classmates told me an internship was, sitting at a desk and doing busy work while every once and a while learning concepts that can help me in the future, but I was definitely wrong," said Madison Franetic a senior at Florida State University majoring in risk management and insurance and human resource management.

This past summer Madison worked with Chuck Magazine, the risk manager for the City of Boynton Beach, FL.  "He made sure I gained as much experience as possible while I was interning."

She said that she not only went out on inspections and saw how safety plays a role in controlling loss prevention. Madison also met with brokers and shadowed one of their account managers for the day

"I was able to leave my internship feeling like I truly learned an immense amount about the insurance industry that I was unaware of before."

Greater understanding

Like Madison, Abigail Tschanz, a risk management major at the University  of Minnesota, gained significant education from her internship at the Toro Company, working with risk manager Dawn Soleta, where she worked analyzed monthly loss runs, reviewed policy renewals and documentation, and created a workers' compensation return to work handbook. In addition, working with Toro's Treasury department, Abigail helped create a contingency plan to deal with and help mitigate the Euro crisis.

Toro's risk management team  (left to right): Tom Larson - VP, Treasurer; Kathy Runkel - Risk Coordinator; Dawn Soleta - SR Risk Analyst; Abby Tschanz - Intern; Dave Hennes - Director, Risk Management

 
 She said the internship was "full of many great learning opportunities; I feel that I have a much better applied knowledge and a greater confidence in my understanding of the risk management field as a result of the Toro internship... I look forward to continuing my education outside the classroom; my supervisor has encouraged me to participate in the local RIMS chapter and I plan to participate as a student member this year."

Getting experience

Two Southern Methodist University risk management students had the opportunity to participate in a unique internship with Southern Methodist University (SMU) in partnership with Arthur J. Gallagher and the Cox School of Business. 

SMU Summer interns Hillary Stapp and Crosby Cordell participated in an internship at SMU which covered 27 areas

Anita Ingram, associate vice president and chief risk officer for Southern Methodist University, said the interns "participated in a program designed to give them a structured experience as a risk professional in a multi-billion dollar asset organization and leading brokerage firm. Based on the University Risk Management and Insurance Association (URMIA) and the Risk and Insurance Management Association (RIMS) professional growth models, with general support from the Spencer Educational Foundation, this program identifies 27 areas where the student intern will have the opportunity to gain real world experience."