A large and cheerful crowd gathered at the University of Georgia Terry College of Business on the afternoon of April 24 to celebrate the naming of the C. Herman Terry Risk Management and Insurance Program.
The naming — the result of a gift from the Terry Family Foundation creating a $15 million endowment to benefit the program — continues the Terry family’s legacy at the University of Georgia and is a significant milestone for a pioneering program long viewed as a leader in its field.
“With this endowment, the C. Herman Terry Risk Management and Insurance Program is poised to move from the top-ranked program in the country to one of the best in the entire world,” said UGA President Jere Morehead. “Thanks to the Terry Foundation’s support, the RMI program will build on its track record of excellence, expanding its offerings as the largest undergraduate program of its kind, increasing resources for faculty pursuing important research, and providing even more experiential learning opportunities to students.”
Founded in 1965 by professor E.J. Leverett, UGA’s Risk Management and Insurance Program was one of the first such programs in the United States. It quickly grew in size and esteem and remains the largest RMI program in the country. For the past five years, it has been ranked first overall by U.S. News & World Report.
“The Terry endowment gives us the ability to make major, new strides in our mission to educate outstanding risk managers and insurance professionals who will become leaders in their organizations and in their communities, which is what Herman Terry stood for and exemplified as a graduate of the University of Georgia,” said Terry College Dean Ben Ayers.
Herman Terry graduated from the UGA School of Commerce in 1939 and enjoyed a highly successful career in finance and insurance. He was an executive at several firms in Jacksonville, Florida, including Dependable Insurance, which he grew from a small regional business into a publicly traded company with multiple subsidiaries.
Mr. Terry and his wife, Mary Virginia, were well known for supporting higher education, the arts, health care and children’s causes. In recognition of their generosity, UGA’s business school was named the C. Herman and Mary Virginia Terry College of Business in 1991. An emeritus trustee of the UGA Foundation, Mr. Terry received the Terry College’s Distinguished Alumni Award in 1986.
As the primary beneficiary of the Terrys’ estate, the Terry Family Foundation is poised to further grow its philanthropic impact by supporting the causes Mr. and Mrs. Terry held dear.
“The legacy of philanthropy that my aunt and uncle began so many years ago is the living mission of today’s Terry Family Foundation,” said Betsy Cox, the Terrys’ niece and president of the foundation. “Our goal is to be true to their passions and to ensure the impact of their generosity is remembered and continues far into the future.”