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Master of Science in Risk and Insurance
Master of Science in Risk and Insurance

MSRI Admission

MSRI admission

Admission Requirements

All applicants to the Master of Risk and Insurance program must possess a baccalaureate degree from an accredited institution or the international equivalent prior to enrollment at the graduate level.

To apply, candidates should submit the following:

  • Butler Application
  • Personal Statement
  • Two Letters of Recommendation
  • Official Transcripts
  • Current Résumé
  • GMAT/GRE Scores (applicants may request a GMAT/GRE waiver, see below)

International applicants must additionally submit the following:

  • TOEFL scores or equivalent proof of English proficiency
  • A clear copy of your passport
  • Evidence of financial support

Important Dates

2021–2022 Academic Year
  • July 1, 2021: Application for 2022 cohort opens
  • August 1, 2021: First application deadline
  • September 1, 2021: Second application deadline
  • October 1, 2021: Third application deadline
  • November 1, 2021: Fourth application deadline
  • December 1, 2021: Final application deadline
  • January-April 2022: Prerequisite coursework, if applicable
  • May 9, 2022: MSRI Program Start
  • June 8-11, 2022: Summer In-Residence Experience (In-Residence dates are tentative)

Decisions will start being released two weeks after each application deadline.

GMAT/GRE Waiver Request Requirements

GMAT/GRE waivers are considered on a case-by-case basis and are not guaranteed. Applicants that wish to apply for a GMAT/GRE waiver must meet the criteria in at least one of the eligiblity categories below. Applicants can request the waiver by completing the GMAT/GRE Waiver Request Form.

  • Conferred master's or terminal degree from an acreditted institution; 
  • Graduate of Butler University’s Lacy School of Business with a 3.0 or higher GPA within the last five years;
  • Graduate of Butler University’s Actuarial Science Program with a 3.0 or higher GPA within the last five years;
  • Conferred Bachelor's degree from an accreditted institution with a cumulative GPA of 3.2 or higher and 5 or more years of professional work experience;
  • Conferred Bachelor's degree from an accreditted insitution with a cumultive GPA of 3.2 or higher from a Risk & Insurance program;
  • Possess proof of at least one Professional Risk Management, Insurance or Financial Services Designation, including:
    • Chartered Property and Casualty Underwriter (CPCU);
    • Certified Insurance Counselors (CIC);
    • Certified Financial Planner Certificate (CFP®);
    • Fellow, Life Management Institute (FLMI);
    • Chartered Life Underwriter (CLU); 
    • Chartered Financial Consultant (ChFC);
    • Associate of the Society of Actuaries (ASA);
    • Associate in Captive Insurance (ACI);
    • Fellow of the Society of Actuaries (FSA);
    • Associateship in the Casualty Actuarial Society (ACAS); 
    • Fellowship in the Casualty Actuarial Society (FCAS);
    • Certified Employee Benefit Specialist (CEBS); 
    • Certified Employee Benefit Specialist Fellow (CEBS Fellow);
    • Commercial Lines Coverage Specialist (CLCS);
    • Associate in Risk Management (ARM);
    • Two or more associate designations from The Institutes; 
    • Other certifications may qualify upon further review. Please contact the MSRI Program at for further information.

Waiver decisions will be communicated to the applicant within 10–15 business days via email.