In Memory of Carl Olson, CPCU

Wed, 10/05/2016 - 20:01

Next month is the one-year anniversary of the passing of Carl Olson, CPCU, and we wanted to extend our belated condolences to Carl’s family, friends and coworkers.

 

Carl’s son, Jerry Olson, provided these highlights from his insurance career.  (Note:  Jerry Olson, CPCU, is Senior Vice President at DSP Insurance Services, Inc. in Schaumburg and also a Past President of the Chicago-West Suburban Chapter.)    

 

Carl was the driving force behind the creation of the Chicago-West Suburban CPCU Society Chapter. He was the first President of the Chicago-West Suburban Chapter and he was also a Past President of the Chicago CPCU Society Chapter. One of the first items on the agenda for the new chapter was to partner with a university in Illinois to provide an insurance curriculum leading to a degree in insurance. Carl was part of the group that worked with Illinois State University to form the Katy School of Insurance.

 

Carl was a fire protection and safety engineer by training (Degree from Illinois Institute of Technology) and he saw a gap in the availability of professional liability insurance for fire protection engineering firms. Working with the Society of Fire Protection Engineers, he formed a national insurance program with Admiral Insurance Company, endorsed by the Society, to open up the marketplace for this important coverage. As other insurers began to recognize this program as profitable and needed by the public, more of them began writing this class of business. Today numerous insurers write professional liability coverage for this industry.

 

Carl was also a principal at T J Adams Group, a respected broker in the western suburbs of Chicago. He joined that firm in 1972 where he worked to grow the firm until he retired. His thrust at T J Adams was education and technical expertise of its employees, and he encouraged many employees to earn their CPCU designation. In particular, Carl believed that the insurance industry was especially supportive of women in the business. He encouraged many women to complete the CPCU program to maximize their careers within the insurance industry. As a result, a high percentage of employees at T J Adams had their CPCU designation.


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