Insurance Information Institute (III) President Robert Hartwig will step down from the role to become an academic.

Dr Hartwig has been President of the New York-based III since 2007, but in total has spent 18 years there. He was its chief economist before becoming President.

He previously held roles at Swiss Re, the National Council on Compensation Insurance and the US Consumer Product Safety Commission.

Dr Hartwig will join the University of South Carolina’s Darla Moore School of Business in August, teaching risk management, insurance and corporate finance, plus courses in the school’s MBA program.

He will also become co-director of Darla’s Risk and Uncertainty Management Centre.

“My decision to leave the institute was an extremely difficult one,” he said. “I love this job, this industry and the daily thrill and privilege of working with amazing people.”

III board members will conduct a search for the next president.