The Terry College of Business’s internship program for students in Risk Management and Insurance is widely recognized as one of the best in the nation. Through this program, students combine academic work with practical, applied experience in insurance or risk management. Answers to some frequently asked questions are noted below.
To be eligible for an internship, students must be junior or senior business students majoring in Risk Management and Insurance. They must have completed at least an introductory course in risk management and insurance, and may also have completed courses in commercial lines insurance, risk management, employee benefits, and life insurance. As part of their business curriculum, students have studied numerous general business subjects, including the use of computers in business settings. Many students also have prior work experience, usually in part-time positions outside of the risk management and insurance industry.
Some employers use interns as high-quality temporary workers to fill in for vacationing, regular employees. Others assign the intern to special projects that regular workers have not had time to do. Depending on employer size and preferences, the intern may be rotated among departments or may work exclusively within one area during the internship period. For added perspective, some employers that have participated in the internship program in recent years are listed on the back of this flyer.
Students who enroll for six hours of academic credit must work at least 300 hours, and those who enroll for three hours of credit must work at least 150 hours. In both cases, additional hours of work are both permitted and encouraged. The typical internship lasts from eight to ten weeks.
The primary concern is that an employer provide a meaningful work experience for the intern, in which the student will be able to apply what has been learned in school to practical, real-world situations. The only administrative requirement is that the employer complete a short one-page supervisory report near the completion of the internship. This report is used in assessing the grade the student receives for the internship. Of course, the employer is also responsible for compensating the intern for work performed.
The recommended minimum compensation rate for interns is $8.00 per hour, although most employers pay more than this amount. The $8.00 rate is below what most firms pay to temporary agencies for vacation help and is therefore considered to be quite affordable in most cases. Some employers also provide housing or a housing allowance to interns who must relocate. The chief exception to the $8.00 minimum rate involves situations where compensation is primarily through commissioned sales. Even in these cases, however, some minimum hourly pay is recommended.
In addition to the work performed, students must keep a daily journal and write a
term paper describing the internship experience to be submitted to the faculty. Students
are also required to submit a photograph and a one-page abstract highlighting the
work that was done.
View complete course requirements.
Students must enroll for internship credit for the same academic term in which they are employed. Although most students do internships during the summer, they are not restricted to that time only. The approximate times when internships might be scheduled include: Spring Semester January – April Summer Semester May – August Fall Semester September – December
Some students arrange internships on their own. In many cases, however, employers indicate to the University their willingness to employ an intern, and the University makes students aware of the opportunities. Interested students then submit their resumes directly to the employers. From there, employers can proceed however they wish. Some employers conduct on-campus interviews, and others rely on phone interviews or office visits prior to making their selections. Every effort is made to facilitate the process an individual employer wants to use. One event that is especially valuable as a meeting place for employers and students is the Risk Management and Insurance Careers Day. The Careers Day is usually in Early February at the Classic Center in Athens, with employer applications and registration fees due in the Fall. Additional information about this event is available from the University. (See next question.)
Employers can indicate their interest in the internship program in many ways. A short participation form is available from the University, although not required. A letter, fax, email or phone call expressing interest is also acceptable. Dr. David L. Eckles is the Risk Management and Insurance internship coordinator. He is available to answer questions or provide additional information. Contact him by phone at 706-542-3578; by fax at 706-542- 4295; by mail at A428 Moore-Rooker, Terry College of Business, University of Georgia, Athens, GA 30602; or by e-mail at firstname.lastname@example.org.
Students should first fill out an Internship Intent Form available on the department web site. They can then look for an internship on their own, as well as following up on opportunities provided through the student listserv, DawgTrak and other means. Complete details about course requirements and deadlines are available on the department web page. Questions should be addressed to the internship coordinator, Dr. David L. Eckles, in A428 Moore-Rooker Hall.