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Faulkner University announced the creation of The Stumbaugh School of Risk Management & Insurance (RMI) within its Harris College of Business through support and a historic gift from AssuranceAmerica (a leading automobile insurance provider who gives 5% of profits annually to charitable endeavors) and Co-Founder Guy W. Millner.

In January 2025, The Stumbaugh School of RMI will offer students an executive style accelerated on-line degree and micro-credentials. In the fall of 2025, the school will offer a traditional 4-year degree. 

Through a $3 million gift, Faulkner will award an AssuranceAmerica Scholarship providing free tuition for on-line as well as on-ground coursework for eligible RMI students who meet admission requirements. It also covers tuition for those seeking RMI micro-credentials (A micro-credential is a short, focused program course that develops a person’s skills and knowledge in a specific RMI area.) Courses are designed to supplement students’ preparation to achieve a Chartered Property Casualty Underwriter (CPCU) designation. 

“We are thrilled to partner with Faulkner in this important way to both honor our AssuranceAmerica Co-Founder, Bud Stumbaugh, and launch a new RMI program here at Faulkner University,” shared CEO Scott Pitrone. “Bud has been a major force for development of both enterprises, and what a pleasure to see his legacy praised with a gift championed by our Executive Chairman Guy Millner.”   

This shared investment will expand Faulkner’s education offerings, providing the public with a well-educated and trained RMI workforce we all depend on. 

“Our on-line RMI executive track will equip those in the insurance workplace seeking credentials to propel their careers,” said Justin Bond, Dean of the Harris College of Business and Executive Education.  

Dr. Ed Pappanastos, PhD, ASLI, is the Department Chair of the Stumbaugh School leading this new initiative as a RMI content expert. He will collaborate with AssuranceAmerica and marketplace leaders to develop the curriculum with expertise given his previous experience as Chair and Associate Chair of Economics, Finance and RMI at the Sorrell College of Business at Troy University. 

Pappanastos said, “The Stumbaugh School of RMI launch represents an exciting time at Faulkner and for the insurance industry, where there is a significant talent shortage. As RMI professionals, our graduates will spend their careers helping individuals and businesses recover from catastrophic events — what a tremendous way to serve the Lord!” 

The school’s namesake, Bud Stumbaugh, a Selma native, is not only a retired Co-Founder of AssuranceAmerica, but is also a public servant. Having served as a State Senator of Georgia, and as a trustee for multiple non-profit boards including serving as a member of the Faulkner University Board of Trustees, Faulkner is fortunate to have benefitted from Bud’s volunteer contributions over the years.