Spencer Educational Foundation receives $650,000 gift from commercial property insurer FM Global

Spencer Educational Foundation (spencer) has received a $650,000 gift from FM Global, one of the world’s largest commercial property insurers. It is the largest contribution the organization has received in its 41-year history.

Of the donation, $500,000 will be earmarked for unrestricted support of Spencer scholarships and grants to students studying risk management and insurance, facilitating internship and experiential learning opportunities and funding development of course curricula. The remainder of the gift will be added to an existing scholarship endowment with Spencer that funds annual FM Global-named scholarships for students pursuing risk management or insurance degrees.

“As a mutual company, we believe this investment in the next generation of risk managers and insurance leaders will provide long-term benefits for our policyholder-owners by providing them a talented pool of graduates who can help them develop even stronger risk management programs and ultimately be more resilient,” said Thomas A. Lawson, chairman and CEO of FM Global. “For nearly two centuries, education has played a significant role at FM Global in our efforts to help drive property risk out of organizations. This gift to Spencer Educational Foundation ensures that legacy continues.”

“The leadership and generosity that FM Global has continuously demonstrated to our industry and the Spencer Educational Foundation is incredible,” said Marya Propis, chair of Spencer and SVP of Distribution & Broker Partnerships at All Risks, Ltd. “Their commitment to resiliency in all areas is directly applicable to preserving and elevating academic excellence that tracks with our industry’s drive to elevate our talent in all areas. Our deepest gratitude to our special partners at FM Global; we are so proud to administer these funds in our names.”

Since 1979, Spencer Educational Foundation has awarded more than $7.3 million in scholarships and $4.1 million in grants to students pursuing degrees in and universities offering programs for risk management and insurance.