Distinguished Alumni Award

Therese "Terri" Vaughan, 79BBA, is known across the country as a judicious and innovative voice on insurance issues. Through her service and dedication to the state of Iowa, she exemplifies the spirit of excellence that is central to the University of Iowa.

After earning her degrees at the UI and the University of Pennsylvania Wharton School of Business, Vaughan held teaching positions at Philadelphia's Temple University and at the Baruch College in New York. She then worked with Tillinghast, an actuarial consulting firm in New York City.

Vaughan returned to Iowa to direct the Insurance Center at Drake University in Des Moines. At Drake, she taught and advised undergraduate students while setting up continuing education programs for consumers, regulators, and the insurance industry. Among her activates, Vaughan developed a national program on financial regulation attended by insurance regulators across the country. Her work at Drake earned her a "teacher of the year" award, the Spencer L. Kimball Award for the outstanding article in the Journal of Insurance Regulation, and a prominent reputation among insurance regulators.

Today, Vaughan is Iowa's insurance commissioner. Assuming one of the most visible jobs in state government, she is regulator of one of Iowa's largest industries. Governor Terry Branstad has focused on insurance as an engine of economic growth, and the state insurance commissioner is expected to work with the Department of Economic Development to "sell" Iowa to companies thinking of building operations in the Midwest.

As insurance commissioner, Vaughan has been active in health insurance reform efforts. She recently implemented Iowa' individual health insurance reform law, which has gained national attention, and led an effort by the National Association of Insurance Commissioners (NAIC) to develop a model health insurance reform law patterned after Iowa's approach. In addition, she has been working to implement an innovative insurance company structure made possible by legislation passed in 1995, and she has been active in enforcing Iowa's consumer protection laws. Recently elected chair of the NAIC's Midwest zone, she now serves on the organization's executive committee.

Vaughan's professional designations include associate of the Society of Actuaries, member of the Chartered Property and Casualty Underwriters, and associate of the Casualty Actuarial Society. Her professional service involves participation in many organizations and associations. She is chair of the board of directors of the Journal of Insurance Regulation and a member of the journal's editorial review board. A member of the Des Moines Actuaries Club and the American Risk and Insurance Association, Vaughan has also served on the board of directors of EMC Insurance Group, Inc., one of Des Moines' larger insurance companies, on the Iowa Insurance Development Board, and on the board of the Young Women's Resource Center.

Vaughan is a member of the Alumni Association's Old Capitol Club.