Spencer Receives $50K Pledge from Arch Insurance to Create Eight New Diversity Focused Scholarships

December 17, 2020 (New York, NY): Arch Insurance has pledged a $50,000 gift to The Spencer Educational Foundation to create eight new $5,000 diversity scholarships. These financial awards, named the Arch Insurance Scholars Program, will enable Spencer to magnify efforts and propel forward students of underrepresented groups who are pursuing Risk Management and Insurance careers.

“We’re pleased to partner with Spencer to create the Arch Insurance Scholars Program, which offers scholarships to promising students from diverse backgrounds,” said Matt Shulman, CEO of Arch Insurance North America. “At Arch, we value innovation and the new ideas that can be sparked by having a workforce that represents the communities where we live and the clients we serve. This program will help us attract a new generation of leaders to our company and facilitate the creation of a pipeline of talent, not only for our organization, but for the insurance industry overall.”

The Arch Insurance Scholars Program scholarships highlight both Spencer’s and Arch’s efforts to advance diversity in the risk management and insurance industry. Spencer is proud to participate as a leading organization in the broader industry movement to create specific awards of DE&I scholarships to diverse students studying risk management and insurance.

“Spencer has taken another important step forward in the Diversity, Equity & Inclusion (DE&I) arena to further enable access to the risk management and insurance industry for diverse students,” said Marya Propis, SVP, Distribution & Broker Partnerships at RT Specialty and Spencer Board Chair. “We are so pleased to have leading employers like Arch Insurance partner with us to expand these efforts through diversity scholarship awards.”

Spencer’s new Arch Insurance Scholars Program scholarships, which are merit-based, will be awarded to undergraduate students who meet Spencer’s standard scholarship criteria and who identify with a traditionally underrepresented race/ethnicity. The selected recipients will also be offered an opportunity to participate in Arch’s Internship Program. The first two scholarships will be awarded in 2021, and annually through 2024.

Spencer awards scholarships to undergraduate, graduate, and PhD students pursuing risk management and insurance careers with financial support ranging from $5,000 to $10,000. To date, Spencer has awarded over 1,200 scholarships totaling more than $8 million. To learn more about our Spencer scholarships, visit www.spencered.org/scholarships.

###

About Arch Insurance Group, Inc.
Arch Insurance North America, part of Arch Capital Group Ltd., includes Arch’s insurance operations in the United States and Canada. Business in the U.S. is written by Arch Insurance Company, Arch Specialty Insurance Company, Arch Property Casualty Insurance Company and Arch Indemnity Insurance Company. Business in Canada is written by Arch Insurance Canada Ltd.

About Spencer Educational Foundation
The Spencer Educational Foundation is a 501(c)(3) nonprofit organization funding the education of tomorrow’s risk management and insurance leaders through scholarships, grants, internship opportunities, on and off campus experiential learning, and support of risk management/insurance curricula. Since Spencer was founded in 1979, they have awarded over $8 million in scholarships and $5 million in grants to universities and professional institutions affecting more than 60,000 students through our programs. For more information, please visit www.spencered.org.

Spencer Announces 2021 Internship Grant Recipients

December 15, 2020 (New York, NY): The Spencer Educational Foundation is proud to announce our 2021 Internship Grant award recipients. For the 2021 grant year cycle, Spencer awarded 36 internship grants totaling $270,000. Spencer’s 2021 internship grant recipients include:

• McKesson Corporation

• Mission Rock Residential

• New Jersey RIMS Chapter

• NuStar Energy L.P.

• Oregon Health & Science University

• Oregon State University

• Parsons Corporation

• Port of Portland

• Portillo's Hot Dogs

• Prologis Inc.

• Retail Properties of America, Inc.

• Sage Software North America

• Sierra Nevada Corporation

• SP Plus Corporation

• The Adecco Group

• The ALS Group

• UFA Co-operative Ltd.

• University of Cincinnati

• AES Corporation

• Bon Secours Mercy Health

• Cast & Crew Entertainment LLC

• CBIZ, Inc.

• Clark Equipment Company

• ConAm Management Corporation

• Cotton Holdings, Inc.

• CVS Health

• DFA Dairy Brands, LLC

• DFW International Airport

• Diocese of St. Augustine

• Dollar Tree

• Electrolux North America

• Growmark, Inc.

• Hearst

• Henry Schein

• KeyCorp

• KHS&S Contractors

The Spencer Internship Program funds student work experiences in the risk management departments of companies. Applicants must be risk management professionals who otherwise would not have a budget to support an intern position in their department. Through Spencer’s summer internships, students can learn about the risk management industry in real world business settings where they can quickly apply what they know, respond to new experiences, and begin to develop key contacts in their field.

“Hands-on, experiential learning in a real-life setting is one of the cornerstones of preparing for a successful career,” said Spencer Educational Foundation Executive Director, Megan Miller. “Spencer is proud to provide these opportunities for students and further strengthen the talent pool for the industry.”

Along with internship grants, Spencer also provides other grants aimed at developing and advancing our industry’s future leaders. Past grants include development of advanced courses in InsureTech, Enterprise Risk Management, Cyber Risk, and Data Analytics; student attendance at industry conferences and symposia; and a variety of other unique proposals. Spencer’s goal to help build a global talent pipeline of risk and insurance professionals is achieved in part by our collaboration with risk and insurance leaders across the United States and Canada.

“In a time when all of us are challenged beyond what we thought possible, Spencer is proud to continue to provide meaningful internship opportunities to young people who are contemplating a career in risk and insurance,” said Peter Heard, Chair of Spencer’s Internship Program Committee and Vice President National Distribution at Travelers. “It’s a testament to our sponsors‘ support and to our partner companies who are hosting the students.”

Thank you to the Risk and Insurance Management Society, Inc. (RIMS), the RIMS Golden Gate Chapter, the RIMS New Jersey Chapter, and the RIMS Northeast Florida Chapter for contributing to the Spencer Internship Program and helping us fund our internship grants.

###

About Spencer Educational Foundation
The Spencer Educational Foundation is a 501(c)(3) nonprofit organization funding the education of tomorrow’s risk management and insurance leaders through scholarships, grants, internship opportunities, on and off campus experiential learning, and support of risk management/insurance curricula. Since Spencer was founded in 1979, we have awarded over $8 million in scholarships and $5 million in grants to universities and professional institutions affecting more than 60,000 students through our programs. For more information, please visit us at www.spencered.org.

Spencer and Argo Group Partner to Create Inaugural Diversity Scholarship

Spencer and Argo Group Partner to Create Inaugural Diversity Scholarship
The Argo Group Diversity Scholarship aims to promote diversity in the RMI industry

October 27, 2020 (New York, NY): The Spencer Educational Foundation has partnered with Argo Group to create its first-ever Diversity Scholarship. The Argo Group Diversity Scholarship aims to promote diversity through a merit-based scholarship to be awarded to a student whose racial/ethnic identity has been traditionally underrepresented in the Risk Management and Insurance professions.

“We’re proud to partner with the Spencer Educational Foundation to help create their first-ever diversity scholarship, but really this is just the start. We hope this small effort encourages more organizations to get involved and develop into a more mature program over the next few years,” said Kevin Rehnberg, Chief Executive Officer, Argo Group.

The Argo Group Diversity Scholarship is a two-year scholarship that will be awarded to a student for the 2021/2022 and 2022/2023 academic years in the amount of $10,000 ($5,000 per academic year). The student awarded this scholarship will be entering their Junior year of undergraduate studies at the University of Illinois at Urbana-Champaign. The selected recipient will also be invited to participate in a mentorship and summer internship program offered by Argo Group.

“The work Spencer does in the Diversity, Equity & Inclusion (DE&I) arena to further access the risk management and insurance industry for diverse students is even more critical than ever. We are so pleased to have leading employers like Argo Group partnering with us to further these efforts,” said Marya Propis, SVP, Distribution & Broker Partnerships at RT Specialty and Spencer Board Chair.

As Spencer stays committed to supporting diversity and inclusion in our industry, The Argo Group Diversity Scholarship is an exciting addition to our scholarship program. Spencer awards Undergraduate, Graduate, and PhD scholarships to students seeking a career in risk management and insurance with Undergraduate Scholarships ranging from $5,000 to $10,000. To date, Spencer has awarded over 1,100 scholarships totaling more than $8 million. To learn more about our Spencer Scholarships, visit www.spencered.org/scholarships.

###

About Spencer Educational Foundation
The Spencer Educational Foundation is a 501(c)(3) nonprofit organization funding the education of tomorrow’s risk management and insurance leaders through scholarships, grants, internship opportunities, on and off campus experiential learning, and support of risk management/insurance curricula. Since Spencer was founded in 1979, they have awarded over $8 million in scholarships and $5 million in grants to universities and professional institutions affecting more than 60,000 students through our programs. For more information, please visit www.spencered.org.

About Argo Group
Argo Group International Holdings Ltd. (NYSE: ARGO) is an underwriter of specialty insurance and reinsurance products in the property and casualty market. Argo offers a full line of products and services designed to meet the unique coverage and claims handling needs of businesses in two primary segments: U.S. Operations and International Operations. Argo Group and its insurance subsidiaries are rated ‛A-’ by Standard and Poor’s. Argo’s insurance subsidiaries are rated ‛A-’ by A.M. Best. More information on Argo and its subsidiaries is available at www.argogroup.com.

Spencer Executive Director Megan Miller named one of the 2020 Women to Watch by Business Insurance

From Business Insurance, October 15, 2020.

Business Insurance on Thursday named the 2020 winners of its annual Women to Watch awards program.

Business Insurance started the program in 2006 to recognize women leaders doing outstanding work in risk management and commercial insurance. From the beginning, the program has recognized winners working around the globe, and in 2017, the publication expanded the awards to include a separate program specifically for women executives in Europe, the Middle East and Africa.

Business Insurance readers nominated candidates for Women to Watch, and a panel of Business Insurance editors selected the honorees based on those nominations.

Below are this year’s 30 honorees for Women to Watch and 20 honorees for Women to Watch EMEA. This year, the awards will be presented during virtual events in November and December.

Women to Watch

Virna Alexander Rhodes, Liberty Mutual Insurance Co.

Johnte’ Archer, J. Archer Insurance Group

Preeti Asthana, Aon PLC

Martha Bane, Arthur J. Gallagher & Co.

Danette Beck, USI Insurance Services LLC

Ashleigh Cashman, International Catastrophe Insurance Managers LLC, a unit of Victor Insurance Holdings

Elaine Coffman, Lockton Cos. LLC

Ingrid Cook, SHzoom It LLC

Courtney Davis Curtis, University of Chicago

Amy Evans Intercare Holdings Inc.

Erin Fry, Munich Re Specialty Insurance, a unit of Munich Reinsurance Group

Catrina Gilbert, Dallas Fort Worth International Airport

Donna Glenn, National Council on Compensation Insurance

Susan Gonzales, American International Group Inc.

Reema Hammoud, Sedgwick Claims Management Services Inc.

Heidi Hull, FM Global

Dana Lodge, Everest Insurance, a unit of Everest Re Group Ltd.

Megan Miller, Spencer Educational Foundation

Diane Mittenzwei, Risk Strategies Co. Inc.

Lan Nguyen, BioMed Realty

Vasantha Prammagnanam, CorVel Corp.

Kim Riley, Hylant Group Inc.

Sharon Robinson, Zurich North America

Shannon Stefanski, R-T Specialty LLC

Christina Terplan, Atheria Law P.C.

Rhonda Tobin, Robinson & Cole LLP

Michele Twyman, Chubb Ltd.

Christina Welch, FCCI Insurance Group

Juliet White, Axa XL, a unit of Axa SA

Julie Wood, Marsh LLC

Women to Watch EMEA

Lisa Bartlett, Crawford & Co.

Andrea Best, McDermott Will & Emery UK LLP

Hande Bilgisu, Marsh LLC

Melissa Boyars, Generali Group

Elizabeth Carbonaro, Willis Towers Watson PLC

Ana Franco de Sarabia, Sedgwick Claims Management Services Inc.

Sophia Dunér, Aon Reinsurance Solutions

Nina Duft, American International Group Inc.

Jackie Hyde, Stanmore Insurance Brokers Ltd.

Victoria Jewell, McLarens Global Ltd.

Tracy-Lee Kus, Aon PLC

Vered Lobel, American International Group UK Ltd.

Kera McDonald, Swiss Re Corporate Solutions

Melanie O’Neill, Liberty Specialty Markets

Nilay Ozden, Marsh Ltd.

Petra Riga, Zurich Insurance Group

Linda Ryan, Everest Re Group Ltd.

Kay Smith, THB Group, a unit of AmWINS Group Inc.

Connie Tregidga, QBE Insurance Group Ltd.

Beatriz Valenti Barbat, Zurich Insurance Group

Profiles of the winners will appear in the December edition of Business Insurance. For more information on the awards program and events, click on the links below.

Women to Watch

Women to Watch EMEA

Spencer Looks Back with Stephen P. McGill, 2010 Gala Honoree

"It is incredible to think how much has changed since I was honored at the Spencer Gala a decade ago in 2010. At that time, I was working at Aon where I was Chairman and CEO of Aon Risk Solutions. Two years later, I was appointed as Group President of Aon and relocated to London where I stayed until I left the company in 2017 after 12 wonderful years with the exceptional firm. I saw a gap in the market for a high quality, specialty, boutique firm which led to the formation of McGill and Partners, which I founded in May 2019 in partnership with Warburg Pincus. We have just completed our first full year of trading, hired 249 colleagues, won 200+ clients and established a presence in London, New York and Miami.

It’s not surprising that I consider my tenure at Aon and founding of McGill and Partners to be my two greatest professional accomplishments. A little more unexpected, though, is that my greatest personal accomplishment is so closely related to these feats: I’m extraordinarily proud that Queen Elizabeth II awarded me a CBE (Commander of the British Empire) for services to the insurance industry and humanitarian efforts.

We have seen a huge amount of change occur in the last decade across the insurance industry as well, which currently positions us in a marketplace that has never been experienced before. Primarily, we have seen the relentless trend of broker M&A with consolidation occurring at a rapid rate. Next year, we will see the greatest structural change in broking history when Aon takes over Willis Towers Watson, which will have a significant impact on the marketplace as a whole. In addition, we are now experiencing the hardest market seen for decades globally across most products, geographies and client industries and this is reinforced by the impact of Covid-19, which is expected to be the largest Non-Cat event experienced in the industry. We are seeing a challenging market that is ever-changing, but one with a huge amount of opportunity and this year has certainly been one of the most exciting and interesting periods of my career!

For our industry to continue to be successful through these periods, we need to continually bring in young, diverse talent that can help to build the next chapter for the insurance industry. The Spencer Educational Foundation is beneficial to the insurance and risk management community because it helps to nurture the next generation of talent by providing them with tools and programs that present the industry, and the many jobs within it, as attractive career paths.

I was incredibly privileged to accept Spencer’s Honor in 2010. Leadership, innovation and education are integral to the future of our industry. I am passionate about supporting those in education and providing them with the means to succeed. The work that the Spencer Foundation does and the extraordinary fundraising that supports young talent is a fantastic output of the industry.

My advice for this young talent: strive for perfection and settle for excellence, never stop learning, and be a team player."

View Steve’s full acceptance speech from the 2010 Gala here.

Spencer Announces 2021 Grant Recipients

The Spencer Educational Foundation is proud to announce our 2021 Grant award recipients. For the 2021 grant year cycle, Spencer awarded 13 grants totaling $382,682 (includes multi-year grants). Spencer’s 2021 grant recipients include:

·       Appalachian State University

·       California State University

·       East Carolina University

·       Indiana State University

·       National African American Insurance Association (NAAIA)

·       Old Dominion University

·       Professional Liability Underwriting Society (PLUS)

·       RIMS (Risk Management and Insurance Society) – Anita Benedetti Student Involvement Program, Risk Management Challenge, ERM Conference Attendance, and Risk Tech Conference Attendance

·       Saint Joseph’s University

·       University of Georgia

Spencer received a wide range of excellent grant proposals and we are excited to see these initiatives in action. Some of the grant recipient proposals include: a diversity and inclusion in risk management & insurance initiative, a RMI/STEM certificate program, a recruitment and career awareness diversity program, the NAAIA National Talent Development Competition, student attendance at several conferences and events, and the “Spencer Digital Insights Lab” bringing students, faculty, and the industry together to solve novel risk management business problems through the application of software and analytics.

“We’re very excited to partner with organizations through our grants program to provide educational and real-life experiences to students who are interested in risk management and insurance,” said Kristen Bessette, Chair of Spencer’s Grants Committee and Chief Actuary at QBE North America. “Thanks to the generous support of our donors, we’re able to reach thousands of students and expose them to the great opportunities that await them in the industry.  It was hard to choose between all the excellent proposals, but our selected partners really stood out with the quality of their programs and their broad outreach in the student community.  Congratulations to all the grant recipients!”

Spencer provides a myriad of grants aimed at developing and advancing our industry’s future leaders. Past grants include development of advanced courses in InsureTech, Enterprise Risk Management, Cyber Risk, and Data Analytics; student attendance at industry conferences and symposia; and a variety of other unique proposals. Spencer’s goal to help build a global talent pipeline of risk and insurance professionals is achieved in part by our collaboration with the risk and insurance educators across the United States and Canada.

About Spencer Educational Foundation
The Spencer Educational Foundation is a 501(c)(3) nonprofit organization funding the education of tomorrow’s risk management and insurance leaders through scholarships, grants, internship opportunities, on and off campus experiential learning, and support of risk management/insurance curricula. Since Spencer was founded in 1979, we have awarded over $8 million in scholarships and $5 million in grants to universities and professional institutions affecting more than 60,000 students through our programs. For more information, please visit us at www.spencered.org.

Spencer Looks Back with John Lumelleau, 2011 Gala Honoree

"I think that the work of the Spencer Educational Foundation – educating and supporting the flow of talented young individuals – plays a critical role in our industry. Spencer is both a conduit for and a facilitator of talent and is at the epicenter of expanding the talent pool within the insurance industry. That’s why I was excited to accept the honor at the 2011 Spencer Gala, and viewed the honor as confirmation of our long-standing commitment to developing excellence in those entering the business. Lockton and Spencer have been aligned for many years – both our company and the Foundation see the education experience as core to our industry’s expansion and continuing sophistication.

After retiring in 2017, I’ve continued to stay involved in many facets of the industry. I remain on the board of Lockton, Inc. and other publicly traded and privately held companies, and serve as an advisor to a Private Equity firm. Additionally, I serve as a Trustee of Fordham University, my Alma Mater, and have served as a Director of the CIAB and on the Advisory Board of the Maurice Greenberg School of Risk Management at St John’s.

I am very proud and feel incredibly fortunate to have had the successes I have over the last 40 plus years. Unquestionably, the high-point was leading Lockton through a period of explosive growth and global expansion. During my tenure, we grew from a mid-sized broker to one with a national footprint and reputation for excellence. That was the jumping off point for an acquisition that allowed us to further expand around the world. The talented people that made it all possible were a team that I was truly fortunate to be part of. Watching Lockton continue to add industry leaders to the team and expand the portfolio of competencies around the world is gratifying to watch.

Our industry continues to be a magnet for diverse sources of capital. Capital is drawn to the insurance industry to take advantage of opportunities to refresh and revamp long-standing practices across the spectrum of underwriting, claims and risk management. The role technology plays in every sector drives data development and analysis today that allows for incredible value to underwriters, brokers and our clients.

My advice to this year’s Spencer Scholars: as you enter the business, absorb what you learn and experience at every point along the way. Be curious, commit to your careers and be your own career architects. We are a very broad, sophisticated industry and different paths will present themselves to you. Be open to diversifying because while where you start is important what you build will bring you success and professional satisfaction. Be part of changing our industry for the better."

View John’s full acceptance speech from the 2011 Gala here.

Spencer Looks Back with Michael Kerner, 2013 Gala Honoree

"I believe that education opens the door to a fulfilling career and a successful life. But who opens the door to an education? For many people, access to an education is elusive – either the money isn’t there, or the guidance and support is lacking. The Spencer Educational Foundation opens the door through scholarships that help meet the individual’s financial needs, as well as through programs that introduce young people to a rewarding career in insurance and risk management, thus providing guidance and support.

Helping young people get started on their career journey has always been energizing to me. So when I was honored at the Spencer Educational Foundation’s annual gala back in 2013, I was more than pleased to accept the honor and do what I could to contribute to this very worthy cause.

At the time I was honored, I was in a global role with responsibility for a large multi-national general insurance business. Since then, I have seen continued consolidation on both the carrier and distribution sides of the business. There has been massive growth in new, technology-driven business models called insurtech. We’ve also seen a massive expansion in how “traditional” players in our profession are using technology and data to improve the way they manage risk, both through risk mitigation and risk assessment. The world has also become a riskier place: Mother Nature is driving a significant piece of this increased risk but man-made activities are also creating a riskier world – whether due to the tort environment or new exposures, such as cyber. All of this makes what we do in the risk management community all the more challenging and important. 

This is where the work of the Spencer Educational Foundation is so critical. Through scholarships, grants, partnerships, and other vehicles, Spencer introduces the risk management profession to the next generation of professionals, providing them with a foundation of knowledge and guiding them on the journey to a fulfilling career. 

And our industry is in need of this incoming talent. The insurance industry and the risk management profession are seeing a steady increase in the breadth, depth and complexity of our roles within society. Navigating these ever-increasing challenges requires professionals with broad skills along with deep expertise. We need to be able to attract and encourage the next generation of risk management professionals to join the industry and make a contribution.

Today, I am responsible for a North American-based unit of a global re/insurance company. In this pandemic environment, I am now working from home and spending more time with family, friends and hobbies. However, I continue to have the pleasure of working with a great team of people and face interesting and important challenges every day.

My biggest personal accomplishment, by far, is a successful marriage of 26+ years along with two wonderful, worldly and thoughtful young adult children. I think my biggest professional accomplishment is being a respected and trusted member of the insurance business community, someone who has helped colleagues achieve their goals, advance their careers and enjoy the journey.

To this year’s scholars, my advice is to take the time and make the effort to learn the business. Risk management is a skills business, and those who are successful in it tend to have a strong foundation in the fundamental skills that underpin the business – whether that be underwriting, claims, loss control, actuarial, finance, negotiation, or communication. I’m not aware of any short cuts to building those skills – they come from classroom training and on-the-job experiences. Build the right foundation of skills and let your energy, commitment and wits take you to the career you aspire to have!"

View Michael’s full acceptance speech from the 2013 Gala here.

Spencer Looks Back with 2013 Gala Honoree Patrick G. Ryan

"I had known of the Spencer Educational Foundation for quite a long time before I was honored at their 2013 gala. Several of my close friends were early adaptors to the culture and principals of the Foundation, and I had seen how the contributions they were making to the industry through Spencer allowed them to prosper. Stimulated by these good friends who I hold in high esteem, I was thrilled to be chosen. My involvement with Spencer since then has further convinced me that everyone should help our industry’s future professionals through the Spencer Educational Foundation. And, of course, we are continuing to do that at RSG.

When I was honored in 2013, Ryan Specialty Group was only three years old. Throughout the last seven years, RSG has grown exponentially. Consistent with the principals of the Spencer Educational Foundation, we have been developing our recruiting and training program to attract young people coming into the insurance industry. This has been a big contributor to our success over these past 10 years. Recently, we made the decision to merge with All Risks, Ltd., who has developed one of the premier recruiting and training programs in the insurance brokerage industry. This merger is a big step in terms of the developing, recruiting, training, inspiring, and educating young people in our industry.

I am living proof that anybody can succeed in this industry through hard work and equipped with the right mentors and education. I’m very proud to have founded three sizeable companies that have become prominent in the industry: The Warranty Group, which is now owned by Assurant; Aon Corporation; and Ryan Specialty Group, which has built a prominent position in wholesale broking and managing underwriting facilities. But nothing is more valuable than my greatest personal accomplishment, my wonderful family. I pride myself on my family, not only immediate but also my extended family. Thank God my family is healthy. Thank God my family is tightknit and close together. The community and bonds that we build are essential to our personal and professional success – therefore, we need to actively work to keep our RMI community healthy, strong and tightknit. To do this, we need to invest in our future.

Spencer has been a highly impactful organization to attract high-quality talent to the insurance industry. It is a vehicle where young people are enabled to enter the industry with a solid foundation, and are exposed to seasoned professionals who can serve as mentors and guide them through the early stages of learning this fabulous business.

Since I was honored at the 2013 gala, the most important change in the industry is the complexity of risk in the world and how our great industry addresses those risks. We’re seeing this through COVID-19; we’re seeing it in multiple ways beyond COVID-19. Right now, there have been two hurricanes that have descended on the coasts of the United States at the same time. Social inflation liability, cyber and transactional exposures, among a myriad of other emerging and ever-present unforeseen threats are driving the complexity and severity of risks. This kind of magnitude of risk, scale, scope and aggregate impact is a dramatic change in these last seven years. The losses that are hitting global society are dramatically increased. And there’s every reason to believe this will continue to escalate. This is a big impact on our industry – it’s testing us, and I think our industry is standing up well to those tests.

It’s currently a unique time to enter our industry. The world is much riskier than it ever has been before. But the expertise that Spencer Scholars bring when they enter this industry grant them the unparalleled opportunity to contribute to society, while still making them extremely valuable to clients, their company, and all of the stakeholders with whom they are involved. The insurance industry has never been more important to the welfare of humanity, or to the welfare of economies all around the world. So my message to today’s Spencer Scholars is: you have made a good decision in selecting this industry. Now, focus on your development and find out what you enjoy. Remember that expertise is the ultimate differentiator in our industry. Your value grows exponentially as you make yourself stand out with knowledge and the quality of services you bring to your clients and employer."

View Pat’s full acceptance speech from the 2013 Gala here.

Spencer Looks Back with 2009 Gala Honoree Pat Gallagher

"Some of the best advice that I’d like to offer to today’s Spencer Scholars: do well in school, and prepare for a great career in the best business on the planet.

The insurance and risk management industry is exciting and ever-changing, constantly adapting to the changing needs of our clients and enabling them to successfully manage their risks and benefits. As insurance professionals, we constantly hone our skills to support these ever-changing needs of our clients and we work hard to support the communities in which we operate. In uncertain times, like during the current global pandemic, our clients and our communities rely on us more than ever to help them understand and navigate risk. For Gallagher, people, communities and business have always been, and will always be, dominate priorities.

I’m extremely proud that I’ve been able to grow and lead a dynamic organization of nearly 33,000 employees globally, all maintaining our unique culture – rooted in a philosophy of integrity, empathy and respect – that is committed to our clients, people, community, carriers and shareholders. We are focused on driving increased diversity at all levels, including our early talent recruitment. We have many inclusion and diversity partnerships, including with the National Underground Railroad Freedom Center and Special Olympics International. We have been honored for nine consecutive years as one of the World’s Most Ethical Companies by the Ethisphere Institute, and for the last two years we have earned 100% on the Human Rights Campaign Foundation’s LGBTQ Workplace Equality Scorecard.

We will always create the best outcomes for customers, improve the world and our communities, work diligently to meet clients’ risk management needs, and grow shareholder value – all while abiding by our company culture of respect, inclusivity and diversity. That is The Gallagher Way, the heart of our entire organization, and it relies on young, educated and innovative talent choosing to join our industry.

Because the landscape of our industry is ever-changing, it’s essential that we continually attract young people into it so that we can continue to adapt. The industry needs to do a better job of showcasing everything that it has to offer: the vast array of career opportunities, the excellent earnings potential, and the broad variety of ways that we give back to the community. This is where Spencer comes in.

The Spencer Educational Foundation and Gallagher share a common value: to introduce talented young people to the many career opportunities available to them in insurance and risk management, and to support them on their journeys. The foundation was created to help fund future insurance and risk management leaders. Most college students wouldn’t initially consider insurance as a career path unless they knew that there were educational and learning opportunities available to them, such as grants from Spencer, or internship programs such as Gallagher’s. Both Gallagher and Spencer are committed to bringing greater awareness to this dynamic career.

I was truly excited to be honored by Spencer back in 2009 - I wanted to do my part to support engaging young people in a way that reached beyond the borders of Gallagher. Our internship program has been in place and growing since 1965, and we host 500 interns globally every year. Interns have been incredibly important to the company—in fact, many of our current leaders came to Gallagher as interns. The opportunities that Spencer provides match our philosophy and dedication to providing an avenue for students to engage in a career in what I have always felt is the best business in the world. I was honored and excited to be associated with an organization that shares our values."

Spencer Center for Professional Development in Risk Management and Actuarial Science to open at Fox School

From Temple University, August 5, 2020.

The Spencer Educational Foundation recently awarded a $225,000 grant to fund a career development center within the Department of Risk, Insurance and Healthcare Management (RIHM) at Temple University’s Fox School of Business.

The new Spencer Center for Professional Development in Risk Management and Actuarial Science will offer professional development activities specific to students in RIHM. 

In addition to the center’s opening, 15 Fox undergraduate students have received 2020 Spencer Scholarships, including a top-five award out of 67 total recipients. 

Below are the award winners.

1.      Mallory Sanders – Spencer Scholarship; Top-Five Award – $7,500

2.      Brian Zimmie – Risk and Insurance Management Society Scholarship – $5,000

3.      John Reilly – $5,000

4.      Shelby Green – Liberty Mutual Group Scholarship – $5,000

5.      Andrew MacQueen – $5,000

6.      Gina Banford – New York Association of Insurance Women Scholarship – $5,000

7.      Sabina Brzozowski – Elizabeth Lisle Scholarship – $5,000

8.      Elizabeth Bunce – $5,000

9.      Matthew Henry – FM Global Scholarship – $5,000

10.   Oleksandr Nikipielov – $5,000

11.   Emilia Pelletier – $5,000

12.   Grace Brighter – $5,000

13.   Matthew Ginsburg – $5,000

14.   Gabriel DiGiamberardino – $5,000

15.   Connor French – $5,000

Spencer Executive Director Megan Miller and Chairperson Marya Propis spoke to Spencer Scholars and other students at a luncheon last semester following the grant announcement.

“If you leave here with nothing else in mind,” Propis said, “we want all of the students as well as the academic leaders to know that Spencer can follow you throughout your career journey and career progression.”

Miller echoed Propis’ remarks.

“We want you to feel that there is value in life for being a Spencer Scholar,” Miller said. “There are networking opportunities and the ability to contact leaders in the industry, so when you’re ready to make that next career step, we’re here to support you in various ways.”

The Spencer Scholarships are awarded to students studying risk management and insurance or actuarial science. Rob Drennan, the director of Fox’s Department of Risk, Insurance and Healthcare Management, was elated to see Temple’s large award representation.

“Receipt of a Spencer Scholarship is one of the highest forms of recognition a student studying RMI or Actuarial Science can receive,” Drennan said. “I know we are all very proud of these students as they continue to represent Temple in a favorable way.”

It was easy for the Spencer Educational Foundation to choose the Fox School of Business for its first major partnership.

“To have this at such a prestigious university like Temple University is a huge moment for us,” Propis said. “Temple has the best product in the industry. The students we interview from Temple are the best-prepared, most well-rounded, have the best public speaking skills, as well as the best practical skills for things that will make them really terrific professionals once they graduate.”

One of those past Spencer Scholars is Tyler Welch, BBA ’20, who graduated in May with a 4.0 GPA. He has worked for the National Academy of Social Insurance, International Business Association at Temple and Passumpsic Bank.

Welch said he would be going nowhere if it wasn’t for Spencer’s involvement in his life. 

“It gives me the freedom and the training to make decisions that are best for me and my career,” he said. “I’ve made some great connections throughout the process, and even throughout the department. Other Spencer Scholars that I saw every day but didn’t know their names, now I know their names. It’s been really good inside the classroom and outside the classroom.”

Welch said being a scholar has also allowed him to be more financially independent.

Once it opens, the Spencer Center will hold career receptions for internship and pre-graduation career opportunities, offer résumé, interview, etiquette and writing skills workshops, and present industry speakers for learning and networking sessions.

Spencer Looks Back with 2015 Gala Honoree Chris Maleno

"It’s incredible to think about how much has changed since I was honored at the Spencer Gala back in 2015. On a personal level, I’ve gone from running the Major Accounts practice for Chubb, to taking over North America Field Operations. They’re very different roles, going from underwriting management to distribution management. The industry at-large has also changed massively since then: we’ve seen broker consolidation; continued emphasis on making underwriting profit while balancing growth and exposures; more collection, analysis and application of data in decision-making; and the development of self-service tools that agents, brokers and clients can utilize.

At the same time, there are many things that have remained the same since 2015. Personally, I have been married for 27 years to the same person, I have three kids that continue to amaze me (none of which have given me an award, but there’s always next year!), and after 32 years in insurance I still find myself challenged, building new skills and learning the business. I’m very grateful for this consistency.

Looking back on my quote from the 2015 Spencer Gala, I’m amazed at how relevant those same issues are today: recent college grads still face increasingly large amounts of debt and a disappointing job market, especially at this particular moment with the crushing economic consequences of the pandemic. It’s for these reasons that the Spencer Educational Foundation is so essential.

Spencer’s mission to fund the education of tomorrow’s risk management remains a fixture of our industry, helping students tackle debt and employability challenges, and maintaining a healthy talent pipeline for our industry. Spencer builds that bridge between carriers, risk advisors and the educational institutions that are developing our next generation. Not to mention, the Spencer board is made up of seasoned professionals from all different areas of our business, which ensures they get creative in how they engage with students and their schools. It's a terrific link to young adults already interested in risk management.

Since I spent over a decade as a board member, I witnessed firsthand all the good work that Spencer does. DeAnna Young, for example, caught my (and the entire audience’s) attention with her Spencer Scholar speech the same year that I was honored. She is now a successful Chubb underwriter in our Medical Risk group. Knowing her experience and those of many other students, I felt especially privileged to accept the honor in 2015.

My advice to this year’s Spencer Scholars: join our dynamic industry. It has so many facets, from risk taking and risk advising, underwriting and loss control, to technology, analytics and all the other support required to design and deliver our products and services. If you have an interest in business, there's something in insurance that will attract you, and then keep you in."

View Chris’s full acceptance speech from the 2015 Gala here.

Angela Sabatino reflects on her career with Spencer

From Advisen, June 22, 2020.

By Rebecca Gainsburg

For more than three decades at the Spencer Educational Foundation, Angela Sabatino has changed the lives of thousands of students. In a recent interview with Advisen, Sabatino reflected on her career, working with the Spencer board, and the importance of educating students about the insurance industry.

“I gave marital advice, job advice, personal advice, self-improvement advice,” Sabatino said. “I brought the emotional influence to Spencer, the down-to-earth nature, and the influence in working with committees.”

She recalled one scholarship recipient who lost both parents to cancer in the same year. “That was heartbreaking. We were on the phone at least once a week for a couple of months and then he went on and he moved forward,” said Sabatino.

As program director, Sabatino managed all five of Spencer’s grant programs: scholarship, internship, risk management in residence, general grants, and introductory course development. She monitored the quality of programs, maintained relationships with program professors, and for many years she was the first person that people spoke to when they called Spencer.

“I remember the phone call from Angela letting me know I had received my first scholarship,” said Megan Miller, Spencer executive director. “I was so excited, and she seemed to be as well. Even though she had probably notified dozens of other students, that day her joy while giving me the news was real.”

“Flashing forward to my first day in the office as Spencer’s new executive director, Angela greeted me at the elevator bank with a beautiful bouquet of flowers,” said Miller. “She now alternates between calling me her boss and calling me her baby, which is what she calls all of our scholarship recipients. I’ve learned more from her in the past nine months on the job than any ‘boss’ could ever convey to a team member.”

Sabatino’s approachability was one of the things that made her great at her job. Students could come to her with uncertainties and fears over starting a new career. “And I would say, ‘Try. Give it a try. I think you’re just nervous about starting a job,’” Sabatino said. Many of those students went on to be vice presidents, she recalled with a laugh.

The team Sabatino worked with pushed her to be better, she said. It was the commitment of the board and the enthusiasm of her colleagues that pushed Sabatino to innovate. Spencer board members were not just names on a letterhead; they were always involved and eager to hear new ideas, Sabatino said.

“Angela has been extraordinary in her commitment to our programs and to all our stakeholders,” said Marya Propis, senior vice president. “She has awed me over the years with how innovative and creative she is with her ideas to strengthen the program and the value of data. I have truly enjoyed partnering with her – and it has been a real partnership – and I learned from her in many ways.”

Sabatino’s ability to ensure complete college and university applications, well-considered teaching agendas, and her skills at advocating for student financial needs all come down to the way Sabatino works – leading with her head and her heart, said Propis.

“No one wants to disappoint Angela,” continued Propis. “She’s helped all of us and Spencer elevate our game in countless ways during her impressive tenure.”

There were many challenges in the last two years: restructuring the company, training new employees, adopting a new strategy and the COVID-19 pandemic, but through it all Sabatino says Spencer stayed true to its values.

 “I commend the board of directors at Spencer,” said Sabatino on the organization’s response to COVID-19. “On all of their grant programs they said, ‘We will not deprive the students of one scholarship.’ They awarded all the money that they had budgeted.”

When asked who had inspired her the most during her career, Sabatino listed Spencer Chair Marya Propis, Board Member Ron Davis and the RIMS Staff. “You couldn’t get a better group of people who would bend over backward to help you accomplish something,” Sabatino said.

“When you have people that you’re interacting with who are so enthusiastic and put fervent enthusiasm into their work, you want to do more,” said Sabatino.

In retirement, Sabatino will continue to work with students, volunteering to mentor young women, in addition to traveling and spending time with friends.

To honor Angela Sabatino’s hard work and dedication, Spencer Educational is throwing a retirement celebration Friday, June 26th at 1pm ET. This community-wide tribute is open to all.

Register here: https://interland3.donorperfect.net/weblink/WebLink.aspx?id=85&name=sef

Spencer Educational Foundation’s Funding Their Future Campaign Starts on Monday June 15

INAUGURAL CAMPAIGN INVITES TOP INSURANCE AND RISK MANAGEMENT EXECUTIVES TO STAND TOGETHER TO BENEFIT INDUSTRY EDUCATION

New York, NY, June 10, 2020 – Top insurance and risk management executives are coming together in a new way to support the Spencer Educational Foundation via its inaugural Funding Their Future campaign, which runs June 15 through the end of September.

The Funding Their Future Campaign is being held in lieu of Spencer’s annual gala, one of the industry’s most successful fundraisers.  The multifaceted campaign celebrates the bright and talented students entering the profession and recognizes longtime industry leaders and community supporters. The $1 million Spencer hopes to raise through this campaign will enable the Foundation to continue offering grants, scholarships, and internships to foster the next generation of risk management and insurance professionals.

In 2019 alone, Spencer invested more than $1.5 million into the industry through 92 scholarships, 42 internships, and over 40 grants to support initiatives and experiential learning via universities and professional institutions.  While an in-person celebration is not possible this year, the need to raise funds to underwrite future programs is more critical than ever, as Spencer intends to honor all funding commitments in 2020 despite the pandemic.

“Spencer remains very committed to standing up and being a change agent,” said Marya Propis, Chairperson of Spencer and SVP, Director of Distribution & Broker Partnerships at All Risks, Ltd. “We will continue leading with action by supporting the future of our diverse group of risk management and insurance students.  This new campaign enables prominent organizations and individuals to stand with us in support of our future industry leaders.”

Spencer hopes you will join with them and contribute to the Funding Their Future campaign as the Foundation provides dynamic updates on its website, www.spencered.org/funding-their-future.  Featured content will include a powerful lineup of remarks and storytelling from board leaders, high-profile industry professionals, and our talented scholarship recipients. The Foundation will also celebrate past Gala honorees and Spencer Scholars, recognize generous and loyal sponsors, and provide program updates on investments in the industry’s innovative and bright future. 

About Spencer Educational Foundation:

Established in 1979, the Spencer Educational Foundation is a 501(c)(3) nonprofit organization created in memory of leading risk manager Robert S. Spencer.  Our mission is to fund the education of tomorrow’s risk management and insurance leaders through scholarships, grants, internship opportunities, on and off campus experiential learning, and support of risk management/insurance curricula. Since our founding, we have awarded nearly $8 million in scholarships and another $5 million in grants to universities and professional institutions. impacting more than 60,000 students through our programs. For more information, visit www.spencered.org. 

Board of Directors

Marya J. Propis – Chairperson, All Risks, Ltd.

Robin S. Joines – President, Sedgwick

Matthew Schneider – Treasurer, Aon

Peter Heard – Vice President, Travelers

Teresa M. Black – Secretary, Chubb

Stephen Acunto, Jr., Business Insurance

Kristen M. Bessette, QBE North America

Butler Bourgeois, Gallagher & Co.

Joseph Cellura, Allied World

Jeffrey M. Cohen, Advisen

Dr. Cassandra Cole, Florida State University

Ron Davis, Zurich

Andrea M. Dudek, Accenture

Ellen Dunkin (ex officio), Amalgamated Family of Companies

Duncan Ellis, AIG

Johnell Holly, FM Global

Theana L. Iordanou, ARC Personal Lines

Christopher J. Lang, Marsh

Joseph V. LaRocco, Jr., Willis Towers Watson

Dr. Weili Lu, California State University - Fullerton   

Timothy Meacham, Lockton Companies

Debbie Michel, Liberty Mutual

Michele J. Sansone, AXA XL

Lori Seidenberg, Blackrock

Media contact: Margo Katz  Office: 212-376-5587; Cell: 917-873-6083; FundingTheirFuture@SpencerEd.org

# # #

Back-To-Back: St. Joseph's University Wins 2020 Spencer-RIMS Risk Management Challenge

Teams Deliver Solutions for Re-Opening College Campuses Post-COVID-19

NEW YORK (May 15, 2020) — For the second year in a row, St. Joseph’s University was named the champion of the Spencer-RIMS Risk Management Challenge. This year’s case study, provided by the University of Dayton, was centered on risks facing the higher education space, with a final question focused on the COVID-19 pandemic and risk management strategies for re-opening the campus in Fall 2020.

The St. Joseph’s team, comprising four risk management students, competed against 23 other universities and delivered the award-winning risk management presentation, virtually to a panel of industry leaders. Presentations from the three finalists are available here.

Members of the Saint Joseph’s winning team included:
Joseph Angelina
Kayla Cecchine
Nicholas Myers
Brendan Tarte
Academic Advisor: Michael Angelina

“Even in our challenging environment, Spencer is proud to say that we have never stepped away from our commitments to risk management and insurance students, and the risk management challenge is a great example of our continued support,” said Spencer Chairperson Marya Propis. “Thanks to all the students and advisors for their hard work this year. Our judges, RIMS, and the risk management team at the University of Dayton is also to be commended for creating an outstanding virtual experience.”

“As COVID-19 has left business leaders with many questions to answer, our Spencer-RIMS Risk Management Challenge students took on the biggest one – how do we re-open for business – and demonstrated an extraordinary command of complex risk management practices and the creativity needed to support decision-making,” said RIMS CEO Mary Roth. “St. Joseph’s University, our participating teams and our student members continue to show great promise and we are proud to welcome them to RIMS’ global community.”

The challenge began with 23 universities, eight months ago but, as a result of the global COVID-19 pandemic, the program evolved to reflect current events. The final round of the competition asked the teams to assess the ongoing COVID-19 crisis and uncertainty regarding return to work schedules and develop a strategy to bring students back to the University of Dayton for the Fall semester. Normally awarded at RIMS Annual Conference, the final rounds of this year’s competition were conducted virtually.

Second place in this year’s Challenge was Florida State University and the third place team was Butler University.

About Spencer
Spencer was founded in 1979 and to this day remains the premier organization funding the education of tomorrow’s risk management and insurance leaders. Over the last 40 years, Spencer has awarded more than $7.35 million to support 1,141 scholarships, and another $4.1 million in grants to aid universities and professional institutions in preparing students to work in our industry. To learn more about Spencer, visit www.SpencerEd.org.​ 

About RIMS
As the preeminent organization dedicated to educating, engaging and advocating for the global risk community, RIMS, the risk management society®, is a not-for-profit organization representing more than 3,500 corporate, industrial, service, nonprofit, charitable and government entities throughout the world. RIMS has a membership of approximately 10,000 risk practitioners who are located in more than 60 countries. For more information about the Society’s world-leading risk management content, networking, professional development and certification opportunities, visit www.RIMS.org.

Women's History Month - Honoring the Women of Spencer

Left to right: Spencer Chairperson, Marya Propis; Spencer Executive Director, Megan E. Miller

According to the Insurance Information Institute (III), there are over 1.7 million women employed in the insurance sector, accounting for approximately 60% of the 2.8 million workers in the insurance industry. At Spencer, we want to make sure women in the insurance and risk management sectors are supported and continue to succeed. Spencer champions women not only this month, but every month!

Recognizing Spencer's Executive Director (and two-time Spencer Scholar), Megan E. Miller

We'd like to recognize Megan E. Miller, our Executive Director and two-time Spencer scholar! Ms. Miller joined Spencer in September and comes with an extensive background in nonprofit management and working within the insurance and risk management space. Her work within the insurance industry included employment at Beecher Carlson, Swiss Re , XL Insurance (now AXA XL) and FM Global...Read More

Recognizing Spencer's Programs Director, Angela Sabatino

Spencer's Programs Director, Angela Sabatino, will be retiring at the end of June after 33 years with the Spencer Educational Foundation. Not only does Angela bring countless years of knowledge about the ins and outs of Spencer, but a personality filled with kindness, compassion, and excitement for her role and our organization. Many people consider Angela to be the “heart” of Spencer. She personally calls each scholarship recipient to inform them of their selection, and from that day on she considers them her “babies.” We will miss her greatly, and are so thankful for all the time she chose to spend with Spencer!

Congratulations to our 2019 Female
Spencer Scholars!

• Emily Bauer (University of Georgia)

• Renata Bruno (St. John's University)

• Macy Butz (Florida State University)

• Kayla Cecchine (St. Joseph's University)

• Li-Hsuan (Karen) Chung (Temple University)

• Lauren Close (Temple University)

• Kyrsten Cregger (La Salle University)

• Katelyn Ertel (Indiana State University)

• Emily Fishel (University of Iowa)

• Chaviva Galapo (Temple University)

• Devon Goolsby (Appalachian State University)

• Rebecca Gradle (Temple University)

• Wei He (St. John's University)

• Gillian Kehs (Temple University)

• Melanie Keusch (Olivet College)

• Angelina Lam (Florida State University)

• Jenny Le (Columbia Business School)

• Amanda Mills (Florida State University)

• Lauren Morell (La Salle University)

• Kayla Morrison (University of Georgia)

• Ayesha Munnaza (Georgia State University)

• Chloe Anais Bowendsom Ouedraogo (Georgia State University)

• Hailey Pacheco (University of Texas at Dallas)

• Emily Pancoast (Temple University)

• Elizabeth Peplinski (University of Alabama)

• Erika Perry (Indiana State University)

• Devyani Persaud (St. John's University)

• Kylie Persons (Temple University)

• Rachel Pleasants (East Carolina University)

• Ann Pogrebitskiy (University of Nebraska-Lincoln)

• Stephanie Richardson (Franklin University)

• Katherine Ross (St. John's University)

• Erika Sreenan (Illinois State University)

• Niveditha Srinivasa (University of Texas at Dallas)

• Lisa Virkkunen (Temple University)

• Yiqi Zhao (Temple University)

Notable Spencer Alumni

Renata Bruno – 2019 Spencer Scholar recipient; 2019 Spencer Gala Speaker; Junior at St John’s University; Vice President of Alpha Iota Chapter of Gamma Iota Sigma

Jeanna Madlener – 1999 Spencer Scholar recipient; Spencer volunteer for Alumni Committee and Scholarship Committee; Vice President, Property & Casualty, Woodruff Sawyer

Elizabeth Meldrum Lisle – 1995, 1996, & 1997 Spencer Scholar recipient; Provided a named scholarship in 2019 (Renato Bruno received this scholarship in 2019!); Founder, Silvient Risk Technology Consulting

The Many Women of Spencer - Thank You!

Spencer Receives $50K Gift From New York City Association of Insurance Women (NYCAIW)

Spencer has received a $50,000 gift from the New York City Association of Insurance Women (NYCAIW), an independent organization based in New York  City that focuses on the insurance industry. This gift will be donated to Spencer in increments of $12,500 per year for the next four years. The first installment was remitted in November 2019.

This contribution will create two new NYCAIW named scholarships awarded each year for the next four years to two female applicants. The NYCAIW scholarship continues the trend of Spencer’s vast support for women in the industry, as well as the encouragement for women to join the risk management and insurance sector.

“At Spencer, we are committed to supporting diversity and inclusion in our industry,” said Spencer Executive Director Megan Miller.  “By fostering a diverse talent pipeline right from the start, we help ensure a broad pool of entrants into the industry who bring a wonderful blend of perspectives and backgrounds to solve our biggest challenges.”

To date, Spencer has awarded over 1,100 scholarships totaling more than $7.35 million, and contributed another $4.1 million in grant funding to universities and professional institutions resulting in the talent development of over 50,000 students. In 2019 alone, 37 out of 75 Spencer scholarship recipients were women.

About Spencer Educational Foundation
Established in 1979, the Spencer Educational Foundation funds the education of tomorrow’s risk management and insurance leaders by awarding scholarships, facilitating internship opportunities, providing Risk Manager in Residence programs to universities, and awarding grants to help promote the industry to the next generation. For more information, visit www.spencered.org.

About New York City Association of Insurance Women (NYCAIW)
NYCAIW is an independent organization based in New York City that focuses on the insurance industry. NYCAIW is a non-profit association of insurance professionals made up of women and men dedicated to the development of leaders in the insurance industry through education, networking, charity and industry alliance. NYCAIW members represent all facets of the insurance industry including agents, brokers, claims associates, attorneys, consultants and anyone involved in the industry.

Spencer Funds New Risk Management and Insurance Certificate Program at Mercy College’s School of Business

Mercy College’s School of Business Awarded Grant to Develop New Certificate Program

From Mercy College, March 4, 2020.

Grant Will Fund Content Development for Certificate in Risk Management and Insurance

Dobbs Ferry, New York – March 4, 2020 – Mercy College’s School of Business has received a $40,000 grant from the Spencer Educational Foundation to develop a certificate in risk management and insurance. Spencer Educational Foundation is a New York-based not-for-profit organization with a mission to fund the education of tomorrow’s risk and insurance leaders. The School of Business will use the grant to develop a series of new courses and seminars on cyber risk, credit risk analysis and risk insurance.

“The grant is a recognition of the School of Business’s drive to continuously innovate by adapting the curriculum to disseminate new knowledge and meet the needs of the market,” said Lloyd Gibson, dean of Mercy College’s School of Business. “It also contributes to the College’s emphasis on student success by providing an opportunity for students to acquire new skill sets in order to compete in the dynamic environment of business. We are grateful to the Spencer Educational Foundation for their belief in the School’s vision and for providing our students with a new pathway to reach their potential.”

This certificate program will be developed as an undergraduate program in Mercy College’s School of Business and will include seminars for graduate students. The new courses will use a multi-disciplinary approach to teach risk mitigation techniques.

“Managing risk is a fundamental skill that applies to all industry sectors,” said Victor Petenkemani who is associate dean of the School of Business and will be the initial director of the new program. “All Mercy students and the community at large will therefore benefit from the dissemination of new knowledge in an era that is fraught with uncertainty.”

Mercy College leadership hopes that the new certificate program will ultimately lead to a new degree program in risk management at the School of Business.

About Spencer Educational Foundation
Established in 1979, the Spencer Educational Foundation funds the education of tomorrow’s risk management and insurance leaders by awarding scholarships, facilitating internship opportunities, providing Risk Manager in Residence programs to universities, and awarding grants to help promote the industry to the next generation. For more information, visit www.spencered.org.

About Mercy College
Mercy College is the dynamic, diverse New York City area college whose students are on a personal mission: to get the most out of life by getting the most out of their education. Founded in 1950, Mercy is a coeducational and nonsectarian college that offers more than 90 undergraduate and graduate degree and certificate programs within five schools: Business, Education, Health and Natural Sciences, Liberal Arts and Social and Behavioral Sciences. With campuses in Dobbs Ferry, Bronx, Manhattan and Yorktown Heights, the vibrancy of the College culture is sustained by a diverse student body from around the region.

Stephen Acunto, Jr. Joins Spencer Educational Foundation Board of Directors

Spencer leadership confirmed the addition of Stephen Acunto, Jr., SVP of Business Development at Business Insurance, to its Board of Directors. The appointment is effective as of January 1, 2020.

A valued member of the media industry, Acunto brings 20 years of diversified experience in business development, brand strategy, and sales to the Foundation. His professional service within the industry includes working with several boards and committees, as well as emerging talent mentoring.

“Throughout his career, Stephen has proven himself as a leader who exemplifies vision, client service, and empowering those around him to achieve,” said Spencer Chairperson Marya Propis. “Spencer leadership is excited to welcome Stephen to its Board of Directors.  With his help and the continued support of Business Insurance as a key partner, we are even further enabled to deliver exceptional resources for tomorrow’s risk management and insurance leaders.”

Prior to his current responsibilities, Acunto worked at industry-leading firms including Hearst Corporation, World Business Forum (WOBI), Dennis Publishing, and Summit Professional Networks. He also serves as an Advisor to various startups. In addition to his professional roles, he served as Chairman of the Columbus Citizens Foundation Junior Committee and a was a 14-year active volunteer for the Fresh Air Fund.

Spencer Educational Foundation's 'Spencer Day' to Celebrate Spencer Scholars on February 24th

Celebrate #SpencerScholars - and the companies who employ them - on the last Monday of February

The Board of Directors of the Spencer Educational Foundation has pronounced the last Monday of February as Spencer Day. The purpose of this designation is to showcase Spencer scholarship recipients, the companies who hire them, and the myriad ways that Spencer supports industry education.

This announcement follows a significant sustaining gift just received from the FM Global, one of the world’s largest commercial property insurers. FM Global’s generous $650,000 gift is the largest single pledge received in Spencer’s 41-year history, and will enable Spencer to eclipse their 2019 high water mark of giving away close to $1.5M to fund industry education.

Marya Propis, SVP and Director of Distribution & Broker Partnerships at All Risks, Ltd. and Spencer Board Chair, commented, “The mission of Spencer is simple; we are helping to manufacture talent for the entire industry, and as our support grows, our capacity to generate more results increases, too. We are excited to call upon all Spencer Scholars – and the companies who employ them – to stand up today and be acknowledged. We also want to shine a bright spotlight on standout industry partners like FM Global on our Spencer Day.”

What is the Spencer Day call to action? TODAY, via social media, industry professionals are encouraged to promote #SpencerScholars whom they mentored, advised, and assisted, and employers can make clear that they place a value on hiring and supporting #SpencerScholars. Currently, Spencer relies on annual, recurring support from hundreds of donor companies and industry professionals, and is so grateful for these ongoing partnerships. Of course, if you’re a Spencer Scholar – past or present – we want to salute you, too, and encourage you to identify yourself via social media or on our website.

Over 1,000 P&C insurance professionals have benefited from Spencer’s philanthropic efforts since the first three scholarships were granted in 1980. By gathering at annual events such as the Gallagher Spencer Golf event on Sat May 2 and the Spencer & Sedgwick FunRun on Tues May 5 at the RIMS Annual Conference in Denver, as well as the Spencer Gala Dinner on Thurs Sept 17 at the Sheraton Times Square in New York, insurance professionals can support Spencer’s ability to propel careers by removing financial obstacles.

Donate to future #SpencerScholars here.