Anthem Education Group (formerly The Chubb Institute) was a Florida-based organization that operated a chain of
for-profit,
technical schools in the United States, called
Florida Career College. In 2018, their website listed 11 campuses, ten in Florida and one in Houston, Texas. Anthem was accredited by
Accrediting Council for Independent Colleges and Schools
The Accrediting Council for Independent Colleges and Schools (ACICS) is a non-profit education corporation that was recognized until 2021 by the United States Department of Education as an independent and autonomous national accrediting body.
...
(ACICS).
International Education Corporation
International Education Corporation (IEC) is for-profit higher education company in the United States. It is the parent company of UEI College, United Education Institute, Florida Career College, U.S. Colleges, and Sage Truck Driving Schools. ...
(IEC) now holds all Anthem Education Group liabilities
History
The organization was founded in 1970 as The Chubb Institute, the employee training arm of the
Chubb Corporation
Chubb Limited is an American company incorporated in Zürich, Switzerland. It is the parent company of Chubb, a global provider of insurance products covering property and casualty, accident and health, reinsurance, and life insurance and the la ...
, an
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
company. Its initial focus was on computer-related training, and training in medical fields was added later.
Facing lawsuits and financial losses, Chubb Corporation put the school for sale in 2004 and eventually sold it for $1 to a partnership of private equity firms called Great Hill Partners and the High-Tech Institute, a network of similar technical schools based in Phoenix, Arizona.
[Yang, Xiyun]
"New Owners Fail To Improve Chain Of Career Schools"
''The Washington Post
''The Washington Post'' (also known as the ''Post'' and, informally, ''WaPo'') is an American daily newspaper published in Washington, D.C. It is the most widely circulated newspaper within the Washington metropolitan area and has a large nati ...
'', August 13, 2007, Banner Institute of Chicago, IL closed as a result of operational loss from the recent merger in 2005. Page D01 Chubb Corporation recognized a $31 million loss from the sale.
The organization lost $9 million in 2005. The location in Chicago was renamed to Banner Institute in January 2006, and the location in Arlington, Virginia was renamed Banner College.
[ However, as of 2007, '']The Washington Post
''The Washington Post'' (also known as the ''Post'' and, informally, ''WaPo'') is an American daily newspaper published in Washington, D.C. It is the most widely circulated newspaper within the Washington metropolitan area and has a large nati ...
' reported that the chain was still struggling with lawsuits and challenges to accreditation.[ Banner College in Virginia closed in August 2008 after ten years of operation.
By 2010, the colleges were being operated by the Anthem Education Group, a company owned by Great Hills Partners.]
References
;Notes
External links
Anthem Education Group
{{DEFAULTSORT:Anthem Education Group
Educational institutions established in 1970
Former for-profit universities and colleges in the United States
1970 establishments in the United States