Press Releases

Foundation receives $100,000 from RIMS NJ Chapter

NEW JERSEY RIMS CHAPTER DONATES $100,000 FOR SCHOLARSHIP
September 17, 2013 -- Spencer Educational Foundation, Inc. has received a donation of $100,000 from the New Jersey Chapter of the Risk and Insurance Management Society (RIMS). The funds will go toward the creation of a $5,000 New Jersey Chapter Scholarship that will be presented annually to support graduate and undergraduate students studying risk management and insurance. The first scholarship will be awarded in the spring of 2014.            

“We are delighted to participate in the growth and development of tomorrow’s industry talent,” said Danielle B. Roth, President of the NJ RIMS Chapter and a three-time Spencer scholarship recipient. “The NJ RIMS chapter is thrilled to provide future industry leaders with financial support to obtain an education in risk management and insurance.”

SPENCER EDUCATIONAL FOUNDATION ANNOUNCES 2013 GALA HONOREES:

SPENCER EDUCATIONAL FOUNDATION ANNOUNCES  2013 GALA HONOREES: ZURICH’S MICHAEL KERNER AND RYAN SPECIALTY GROUP’S PAT RYAN

LOS ANGELES (April 22, 2013) – Spencer Educational Foundation, Inc. will honor Michael Kerner, CEO General Insurance for Zurich, and Patrick G. Ryan, chairman and CEO of Ryan Specialty Group, LLC, at its fifth annual fundraising gala on September 17, 2013, at the Waldorf Astoria New York. The honorees were recognized for their contributions to the advancement of risk management and insurance educational opportunities.

Kerner is a member of the Group Executive Committee and the CEO of General Insurance of Zurich Insurance Group Ltd (Zurich). Prior to that, he was CEO for Zurich’s Global Corporate in North America. Kerner joined Zurich in 1992 from the Continental Insurance Company, and since then has held a number of senior executive positions. He holds a Bachelor of Science degree in Mathematics and Economics from the State University of New York at Binghamton. He is a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries.

Ryan, the founder and retired chairman and CEO of Aon Corporation, launched Ryan Specialty Group, LLC, in 2010. Ryan Specialty Group is a global holding company that consists of a wide range of highly specialized MGUs/MGAs, a wholesale brokerage, and a Lloyd’s insurer. Aon Corporation is one of the world’s largest insurance and reinsurance brokers. When Ryan retired from Aon, the company had more than 500 offices in 120 countries, generating revenues then in excess of $7 billion. Ryan’s accolades include a Doctor of Humane Letters degree from his alma mater, Northwestern University. In 2008, he was elected to the American Academy of Arts & Sciences, one of the nation's oldest and most prestigious honorary societies and independent research centers. Also in 2008, he was elected to the International Insurance Society Hall of Fame and received the Ernst and Young Entrepreneur of the Year Lifetime Achievement Award.

"Our honorees and their companies have embraced risk management and insurance education. They both have risen to the top of the industry and serve as role models for the future generation of risk management and insurance industry leaders," said Spencer Educational Foundation, Inc. Chairwoman Peggy Accordino. "By honoring these individuals we are also raising awareness for risk management and insurance educational programming, scholarships and grants. We thank all those who share in our mission and invite you to join us in September at our annual gala."

To request an invitation to Spencer Educational Foundation's 2012 Gala, please call Camy Calve at 212-218-4080 or send an e-mail to galadinner@spencered.org. For more information, visit ww.spencered.org.
 

SPENCER EDUCATIONAL FOUNDATION PRESENTED $300,000 FROM RIMS

SPENCER EDUCATIONAL FOUNDATION PRESENTED $300,000 FROM RIMS

RIMS Contributions to Foundation Exceed $1 Million

LOS ANGELES (April 22, 2013) – RIMS, the risk management society™, has pledged $300,000 to the Spencer Educational Foundation to support the development of risk management and insurance courses in business schools and universities where they do not currently exist. With this pledge, RIMS’ financial support to the Foundation has exceeded $1 million over the last 15 years.

“RIMS’ financial support of the Foundation has been extraordinary. Through its donation to Spencer, RIMS has taken a leadership role in helping to educate the industry’s future leaders,” said Spencer Educational Foundation, Inc. Chairwoman Peggy Accordino. “We seek to make risk management and insurance courses as commonplace in business schools as the mandatory accounting and statistics requirements. You cannot be in business today without knowing the basics of risk management and insurance; RIMS’ contribution will help us showcase this valuable business discipline.”

RIMS President John Phelps said, "RIMS is committed to advancing the risk management and insurance professions and key to that is this Society's commitment to the next generation of risk professionals. Through grants, scholarships and internships, the Spencer Educational Foundation has a remarkable history of providing invaluable educational opportunities to the young men and women who have chosen or are considering careers in this industry. It's my distinct honor to present the Spencer Educational Foundation with this grant today as they continue to develop the risk professionals of tomorrow ."

Later this year, the Foundation will solicit grant proposals from universities that do not currently offer any risk management and insurance courses. The Foundation will select two universities and offer them a $25,000 grant to develop an introductory risk management and insurance course. In addition, the university will benefit from the foundation’s Risk Manager in Residence program and RIMS membership. Students from that university will benefit as well via internship and scholarship opportunities. Over the three-year pledge, six schools will be awarded grants.

About Spencer Educational Foundation, Inc.
Established in 1979 to honor the late Robert S. Spencer, the Foundation is funding the education of tomorrow's risk management and insurance leaders. For more information, visit www.spencered.org.

FOUNDATION REACHES $5 MILLION MILESTONE WITH ANNOUNCEMENT OF 2013 SPENCER SCHOLARS

FOUNDATION REACHES $5 MILLION MILESTONE WITH ANNOUNCEMENT OF 2013 SPENCER SCHOLARS

LOS ANGELES (April 21, 2013) – Spencer Educational Foundation is pleased to announce its 2013 Spencer undergraduate, graduate and pre-dissertation scholars. These 50 students represent 19 universities and are among the brightest students in the industry. The total awarded in scholarships for these students is $282,500, bringing the total amount awarded to students since 1979 to more than $5 million and the number of Spencer Scholars to more than 650.

“The industry has been investing in the Foundation and, in turn, we have been investing in the next generation of industry leaders,” said Spencer Educational Foundation, Inc. Chairwoman Peggy Accordino. “Reaching this milestone is a significant accomplishment and we need to pause and thank our generous donors who have made this possible.”

In addition to 12 general scholarships, this year the Foundation awarded 32 named undergraduate scholarships. All but one of the general and named scholarships are for $5,000. There is one $7,500 scholarship that is given to the undergraduate applicant with the highest grade point average. That Spencer scholarship, the RSA/Douglas Barlow Memorial Scholarship, was awarded to Cole W. Meixner from St. John’s University.

The 32 named scholarships have been sponsored by: ACE Group, Allied World Assurance Corp., Arthur J. Gallagher & Co., FM Global, Liberty Mutual, Lockton Companies, RIMS Atlanta Chapter, RIMS Chicago Chapter, RIMS Dallas/Ft. Worth Chapter, RIMS New York Chapter, Risk and Insurance Management Society, St. John’s University and Zurich.

This year, the Foundation awarded five master’s level scholarships and one pre-dissertation scholarship. These are $10,000 scholarships.

The Foundation also awards risk managers pursuing part-time MBA up to $10,000 scholarships. The deadline for these scholarship applications is May 1.

About Spencer Educational Foundation, Inc.
Established in 1979 to honor the late Robert S. Spencer, the Foundation is funding the education of tomorrow's risk management and insurance leaders. For more information, visit www.spencered.org. 

SPENCER EDUCATIONAL FOUNDATION AWARDS $50,000 LOSS PREVENTION EDUCATION GRANT TO TEMPLE UNIVERSITY F

SPENCER EDUCATIONAL FOUNDATION AWARDS $50,000 LOSS PREVENTION EDUCATION GRANT TO TEMPLE UNIVERSITY FOR LOSS PREVENTION EDUCATION GRANT TO TEMPLE UNIVERSITY FUNDED BY FM GLOBAL

LOS ANGELES (April 22, 2013) -- Spencer Educational Foundation, Inc. today announced that Temple University has been awarded a $50,000 grant to further students’ knowledge regarding loss prevention. The Loss Prevention Education Grant is funded by FM Global, one of the world’s largest commercial property insurance companies. 

“The Foundation’s mission is to fund the education of tomorrow’s industry leaders. Through this grant and the generosity of FM Global, we are funding the body of knowledge and resources that are available to tomorrow’s leaders,” said Spencer Educational Foundation, Inc. Chairwoman Peggy Accordino. “We congratulate Temple University on being selected for this grant.” 

Temple University’s proposal was submitted by Michael McCloskey, an instructor in the university’s Department of Risk, Insurance and Healthcare Management. The proposal seeks to develop course material to provide students with a “healthy understanding of how engineering plays a role in loss prevention, especially in property and safety risks.” Mr. McCloskey will develop five modules for inclusion in current undergraduate curriculum as well as develop video material to incorporate in graduate level studies. 

"We are thrilled to have the opportunity to partner with FM Global and Spencer,” said McCloskey. “As a visitor to the FM Global facilities and a witness to their leading research and education on loss control, it will be an exciting endeavor to deliver this material to future members of the insurance industry. I am enthusiastic about the partnership and look forward to the impact and results we will make in the students education and the role of loss control in the risk management landscape." 

“We are pleased to fund this grant which will enhance the education of risk management and insurance students regarding loss prevention and safety issues,” said Brion Callori, senior vice president, engineering and research, FM Global. “By educating students on the value of engineering and how losses are preventable, not inevitable, they can help the organizations they will work for become more resilient.” 

In 2008, FM Global contributed $525,000 to the Spencer Educational Foundation, the largest one-time gift in the Foundation’s 34-year history. The gift included $300,000 earmarked to assist universities in developing new loss prevention-related courses. Previous grants have been awarded to the University of Hartford, Virginia Commonwealth University, Ball State University, California State University at Fullerton and Old Dominion University. The remaining funds have gone towards annual FM Global unrestricted scholarships for students pursuing a degree in risk management or insurance. 

About FM Global:
For nearly two centuries, many of the world’s largest organizations have turned to FM Global (www.fmglobal.com) to develop cost-effective property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. With clients in more than 130 countries, FM Global ranks #572 among FORTUNE magazine’s largest companies in America and is rated A+ (Superior) by A.M. Best and AA (Very Strong) by Fitch Ratings. The company has been named “Best Property Insurer in the World” by Euromoney magazine and “World’s Best Supply Chain Risk Insurance Provider” by Global Finance magazine. 

About Spencer Educational Foundation, Inc. 
Established in 1979 to honor the late Robert S. Spencer, the Foundation is funding the education of tomorrow's risk management and insurance leaders. For more information, visit www.spencered.org. 

2013 Releases

Temple finishes on top at second annual VCU/Spencer RMI Challenge

RICHMOND, VA – On Mar. 4 and 5 students from seven schools competed in the Virginia Commonwealth University RISC/Spencer RMI Challenge and had to propose and present solutions for a complex risk management and insurance scenario. The top three team presented in front of 150-plus industry professionals attending VCU’s Risk and Insurance Study Center’s (RISC) Trends Conference. Students from Temple University took first place and a team award of $4,000. The teams from Illinois State University and Virginia Commonwealth University respectively finished second and third and received $3,000 and $2,000. The competition was sponsored by the Spencer Educational Foundation, which funds the education of tomorrow’s risk management and insurance industry leaders.

Pictured here are all students who participated in the challenge representing the following schools: Ball State University, Illinois State University, St. John’s University, Temple University, University of Alabama, University of Georgia and Virginia Commonwealth University.

Posted 3/6/13.