Renamed College of Insurance rebounds following WTC tragedy
By Samuel Schiff
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The College of Insurance merged with St. John's University last year (top and right photos), to become the School of Risk Management, Insurance, and Actuarial Science. Located in downtown Manhattan, the school was closed for several months after the World Trade Center attacks. Cleanup crews (bottom photo) are still at work around the university.
To suggest that 2001 was a normal educational year for the former College of Insurance located in downtown Manhattan, with the Hudson River to the west and the site of the World Trade Center and World Financial Center to the south, would be to put it mildly, making a serious error in judgment.
For this 100 year-old institution that has been training and educating insurance people since the start of the 20th century, the past year was probably the most eventful in its history. The three events that occurred and will appreciably affect its future were the celebration of its 100th anniversary, its merger with St. John's University in May, and the September 11 terrorist attack that destroyed the World Trade Center and significantly impacted the surrounding neighborhood in downtown Manhattan.
Citing the opening line from Charles Dickens' classic novel A Tale of Two Cities, Dr. Ellen Thrower, the school's executive director called it "the best of times and the worst of times."
"Our best of times began when we celebrated our 100th anniversary and gathered momentum on May 31, 2001, when we officially completed our merger agreement with St. John's University and became part
of the Peter J. Tobin College of Business (TCB)," says Dr. Thrower. As a result of the merger, the TCI was renamed the School of Risk Management, Insurance, and Actuarial Science (SRM).
The merger will enable both schools to grow in the changing and challenging new world of financial services. It will allow the TCB, founded in 1927 as St. John's College of Business, to expand its traditionally strong educational offerings in the business world to include risk management and to build executive and professional education for the future. The school is named for Peter J. Tobin, a 1965 graduate of St. John's College of Business, and the school's current dean. He and his wife provided a generous gift to support its students, faculty, program and its future.
"For more than 100 years, SRM has been in the forefront of preparing students for successful careers and leadership roles in the risk management, insurance and financial services," says Dr. Thrower. "We offer both graduate and undergraduate degree programs as well as professional education programs, that provide the necessary learning and continuing education needed to remain up to date in the highly competitive insurance environment."
Undergraduate academic programs include bachelor of science degrees in actuarial science and risk management, and insurance, with a concentration in risk management. At the graduate level, the college offers a master of business administration with a concentration in risk management and insurance as well as a master of science degree in risk management and insurance.
"In addition," Dr. Thrower notes, "we will offer professional education programs, including license examination preparation, continuing education and customized executive and management training programs."
"The importance of a return by SRM to normal operations cannot be minimized ...The school's graduating students and those enrolled in continuing education classes will play a vital part in the long-term recovery in the nation's economy."
-- Dr. Ellen Thrower, executive director
School of Risk Management, Insurance, and Actuarial Science
St. John's University
Thanks to the pooling of resources, reputations and established success, she continues, the TCB will be in a position to offer exciting new capabilities in learning for business students. The resources will include a million-volume library, much of which is available via remote accessibility; a highly specialized library of insurance books and materials, more than 100 faculty members, many of whom are acknowledged experts in their fields; accreditation by AACSB-International--The Association to Advance Collegiate Schools of Business; more than 35,000 alumni around the world; and campuses in the New York Financial District; Queens, Staten Island and Oakdale, New York; and Rome, Italy.
"We are optimistic that the marriage will prove to be a long and happy one," says Dr. Thrower, "with highly visible benefits to both schools."
Worst of times
The worst of times began at 8:48 a.m. on September 11, 2001, when a Boeing 767, commandeered by a group of terrorists, slammed into Tower One of the WTC. That was followed at
9:03 a.m. by a second Boeing 767 striking Tower Two. Students, faculty and staff of SRM, who had begun the fall term less than a week before, witnessed both attacks.
"I was sitting at my desk when the attack took place, and we immediately began to evacuate the building," says Dr. Thrower. "The students fled with what they had on their backs, including those who were in residence on the top four floors of the building," Dr. Thrower says, "and headed uptown, seeking safety as far away from the WTC as possible. A group of some 30 students walked to the St. John's campus in Jamaica, Queens, some 12 miles away." The subsequent collapse of the WTC's twin towers and a number of the surrounding buildings resulted in an immediate shutdown of the school.
"In the wake of the disaster, the school building was taken over by the city as a center for the rescue workers and volunteers, including some from St. John's as well as SRM. When it became apparent that we couldn't return for the semester, St. John's offered the campus to the Red Cross where it was used as a respite center for workers."
It remained so until the last few days of November. During that time, the building was open on a 24/7 basis, serving some 100,000 hot meals, having available round-the-clock medical facilities staffed by health care personnel, providing cots and sleeping facilities for the workers on "The Pile," and enabling them to take a break from their work.
Dr. Thrower adds that the school's auditorium was turned into a temporary chapel where a weekly Mass was served and where workers could sit quietly and meditate. "We believe that for many workers it became a 'special place,'" she says. The rescue workers were also able to use the school's computer facilities for sending and receiving e-mail messages.
The Red Cross departed at the end of November and then the environmental cleanup began, continuing until the beginning of 2002. The students began to return for the spring term in mid-January. Upon their return three pennants were visible to greet them in various parts of the 12-story building. One hangs outside the building and reads, "St. John's University Welcomes Back the Students, Faculty and Staff" with a similar one draped across the windows of the first-floor cafeteria. The third one--facing the Hudson River--just says "Red Storm," the school's nickname.
Life goes on
The students' views, however, will be totally different from where they left off September 10. Most dramatic is the total absence of the WTC complex. The surrounding streets are now filled with construction equipment, barriers and wire fences. Walking to the school will require the utmost care. "Despite the obstacles, the students want to come back," says Dr. Thrower. "They are anxious to continue their education, but they also want to have a hand in rebuilding the surrounding area and the community."
While the school did not suffer any visible physical damage, it did suffer significant educational damage. "Our 78 resident students--those living in dorms in the building were forced to move to the St. John's campus and while they were welcomed with open arms, it was a difficult transition," says Dr. Thrower. "It wasn't until we reopened in mid-January that they were able to return to our building."
For the non-resident students, either full-time or the more than 800 part-time students, the closing resulted in a significant disruption of the fall semester. Many courses had to be dropped and a significant number of students were forced to withdraw. A major reason for the withdrawal of many part-time students was the loss of their jobs as a result of the WTC destruction, where many of the insurance organizations employed SRM students. Those classes that were able to continue were moved to nearby Pace University or the other St. John's campuses in Queens and Staten Island.
"Despite these problems, we consider ourselves very fortunate," says Dr. Thrower. "None of our students, and full-time faculty or staff were killed or injured. Sadly, we did lose two adjunct professors as well as several alumni who worked for insurance organizations located in the WTC Complex."
Dr. Thrower adds that the terrorist attack affected not only the SRM but area grade schools; Stuyvesant High School, one of the city's most prestigious schools; and Borough of Manhattan Community College, one of the largest schools in the CUNY system. "None, however were impacted as much as SRM, and none were closed for as long a period of time," she says.
"Our main objective now is to return to normal as quickly as possible," Dr. Thrower says, "and that means a resumption of all classes in the spring term." A look at the course schedule for the spring 2002 term indicates that's exactly what in-coming students saw upon registration. Classes in such subjects as actuarial modeling, risk management, reinsurance, marine insurance, underwriting, risk management and risk modeling, and risk, insurance and banking were among those scheduled.
"While enrollment dropped following September 11, I am confident that with the SRM now reopened and ready to accept students, it will pick up," she says. While there may not be a significant increase in enrollment with the spring term, she is confident that as the word gets around that SRM is open for business there will be a rise in applications and enrollment for the fall 2002 term.
"The importance of a return by SRM to normal operations cannot be minimized," stresses Dr. Thrower. "The role it will play in the changing and rapidly shifting world of insurance and financial services is more important now than ever before. The school's graduating students and those enrolled in continuing education classes will play a vital part in the long-term recovery in the nation's economy. Our students are eager and intelligent and will be the future leaders of the industry."
The active support of insurance companies is one necessary ingredient. Dr. Thrower notes that the vast majority of full-time students are on scholarship. She suggests that an appropriate way to ensure the continuation of the school's efforts is the establishment of a perpetual endowment by friends and relatives in the name of an outstanding individual on the anniversary of a notable occasion. Since 9/11, there have been frequent and often inspiring newspaper articles about businesses in the area that were affected in one way or another by the disaster and have recovered and are once again operational. The list includes video, record and computer stores, diners, coffee shops and restaurants, office supply stores and shoe repair, jewelry and clothing stores. Since mid-January the list became longer with the reopening of the School of Risk Management Insurance and Actuarial Science.
Earlier, Dr. Thrower alluded to words by Charles Dickens as descriptive of what took place in 2001. Looking into the future she could easily say that if conventional wisdom is correct and "the first hundred years are the hardest," then SRM should have clear sailing as it moves to 2101. *
SRM's proximity to the WTC area unfortunately gave some of its students a close-up look at the tragic events of September 11, 2001. William Cooper, a 21 year-old, full-time resident student, and part-time employee at The Hartford was a witness, along with other resident assistants as the planes struck the Twin Towers. "There was a roar of engines as the first plane came in and hit the building. It literally disappeared into the building. A few minutes later the second plane struck. Debris began to fly through the air," he says. "The building security staff acted quickly and there was an orderly evacuation of the building, and moving the students away from the immediate area. Many headed uptown, some sought refuge at Pace University, but all attempted to move as far away from the area as possible."
21 year-old William Cooper is a full-time resident student at SRM and part-time employee at The Hartford who witnessed the World Trade Center attacks on September 11, 2001.
William also witnessed people jumping from windows, including some who held hands as they plunged to their deaths, and he was on the street as both buildings collapsed. "People literally did not know what to do. When the buildings came down, the rain of debris covered everything and everybody. I headed uptown and along with about 30 other students went to Times Square. Along the way people handed out bottles of water to those of us who were on the street.
"That evening I returned to the area and stayed until about 8:00 p.m. Along with some other resident assistants we were looking for any students who may have been lost," William remembers. "We found one just sitting on the sidewalk, not knowing where to go. I don't think he was ever so happy to see anyone."
The reopening of the school and a return to normal was most welcome by the third-year student, who is slated to graduate in 2003.
Shorna Lewis, who works at the Insurance Information Institute as an information specialist and attends several classes at Pace University, witnessed the WTC destruction from her office windows. Her schedule and that of other students attending Pace was disrupted as the entire area around the WTC was closed to traffic and pedestrians for nearly two weeks.
"Night students had an especially difficult time," Shorna says, "and many had to drop classes." She was not as badly affected and was able to complete her fall semester.
Still the events of that day and the weeks that followed are on her mind. "I used to work in the WTC and the night before 9/11 I spoke to a close friend of mine who was killed that day," she says simply.
The author
Samuel Schiff, a New York-based freelance writer has worked in the World Trade Center-area since 1970. He watched it being built from the ground up.