A team of students from Temple University has won first place in the second annual Virginia Commonwealth University RISC/Spencer RMI Challenge.

This week's Richmond, Va., competition attracted teams from seven schools to analyze and present proposed solutions to a complex risk management and insurance case study. Participating in the 2013 event were teams from Ball State University, Illinois State University, St. John's University, Temple University, University of Alabama, University of Georgia and Virginia Commonwealth University.

The case study asked teams to develop a proposal to bid on a hypothetical risk management consulting contract for Richmond, Va., which will host the 2015 UCI Road World Cycling Championships, an international sporting event consisting of a nine-day series of world championship races organized by the sport's governing body, Union Cyclist Internationale.

After preparation of a 10-page written proposal, the teams made a live presentation to a panel of judges. After being scored on both the paper and their presentations, the three top scoring teams moved to the final round. Here, they made another presentation of their proposal in front of the judges, as well as an audience of more than 150 risk management and insurance professionals at VCU's Risk & Insurance Study Center's Trends Conference, held March 5 on the campus of VCU in Richmond, Va.

The teams in the final round took questions from the audience and the judges replaced their first-round presentation scores with scores based on their final presentations to the larger audience.

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The first-place team from Temple University's Risk Management and Insurance Program, which won a $4,000 prize, included Pete Adonizio, Mike Cross, Kyle Enderle and Gina Ross.

Second place was claimed by a team of students from Illinois State University's Katie School of Insurance and Financial Services. The team, which won a $3,000 prize, included Erin Dullard, Kevin Kostyk, Eric Mutch and Dan Pettie.

The third-place prize of $2,000 went to a team of students from Virginia Commonwealth University's Risk Management and Insurance Studies Program: Alex Andrews, Andrew Sulc and Chris Townsend.

The challenge is sponsored by the Spencer Educational Foundation, whose mission is to fund the education of tomorrow's risk management and insurance industry leaders. It is organized by VCU's Risk & Insurance Studies Center.