American Family endows scholarships at Business School

American Family Insurance has created an endowed scholarship fund for students majoring in insurance-related disciplines at the School of Business.

American Family is contributing a total of $84,000 in 1998-99 to create a fund in honor of two of the company’s chief executive officers, both UW graduates: Herman Wittwer, who founded the company in 1927 in Madison, and John O. “Pete” Miller, who served as chairman and CEO from 1977 until 1982. Both are now deceased.

The American Family Insurance Scholarships in Risk Management and Insurance will support annual scholarships of $2,000 or more to full-time undergraduate or graduate students.

“We are pleased American Family has created this fund because it assures that we will be able to offer the scholarships to students far into the future,” said Business School Dean Andrew Policano. “Scholarships help attract and support top students, which are the critical factor in maintaining the excellence of the program.”

Madison-based American Family has been a strong benefactor of the business school’s insurance program for many years. In 1993, the company endowed a chair at the School of Business, which is held by Professor Joan Schmit.

“Both Herman Wittwer and Pete Miller were instrumental in the development, growth and success of American Family,” said Dale F. Mathwich, current chairman and CEO of American Family. “In addition, American Family has long supported educational programs at the university. We felt a fitting tribute to these men would be scholarships in their names at the school from which they were proud to graduate.”

UW’s Department of Actuarial Science, Risk Management and Insurance is highly-ranked among its peers. U.S. News and World Report ranked it fourth in the nation in its most recent ranking of insurance programs. The department’s faculty is considered among the most productive in research in the nation.

American Family Insurance is the nation’s 11th largest property/casualty insurer. More than 6,800 employees and 3,800 independent contractor agents service more than 6.8 million policies in 14 states.

Administered through the UW Foundation, the American Family Insurance scholarships will be available for the 1999-2000 school year.