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Spencer giving 50 scholarships


The Spencer Educational Foundation will reach a new high in 2012, awarding 50 scholarships to risk management and insurance college students.

That’s an increase from 39 in 2011.

“The foundation is making a big impact on the industry and the future of the industry,” said Roger L. Andrews, director of risk management at Cynthiana, Ky.-based E.D. Bullard Co. and Spencer’s outgoing chairman, while announcing the scholarship totals Monday.

In addition to student scholarships, the charitable foundation will award 10 scholarships of up to $10,000 to risk managers enrolling in part-time MBA programs for 2012-2013. The deadline for applications is May 1.

The total amount for scholarships awarded by the foundation is expected to top $300,000 in 2012.

Spencer also will help fund 25 risk management internships at companies that are members of the Risk & Insurance Management Society Inc. The foundation also has awarded grants to fund 12 Risk Manager in Residence programs so far in 2012, and more are expected. These program provides funding for one- to three-day lecture programs conducted by working risk managers on college campuses.

One of the goals of incoming Spencer Chairwoman Peggy Accordino is to widen the influence of Spencer to colleges that currently do not have risk management and insurance programs. Through the RIMS chapters, Spencer will look for ways to offer grants to facilitate a risk management element, such as an elective or guest lectureship, at colleges that offer business courses that do not contain a risk management or insurance element, said Ms. Accordino, who is also vp, director of risk management at National Financial Partners Corp.