NEW YORK–Board members of the Spencer Educational Foundation Inc. and several scholarship recipients recognized the Ace Group of Companies on Tuesday for pledging to contribute $100,000 over four years.
The donation, which will begin in December, goes toward the creation of the William J. Clagnaz ACE USA Memorial Scholarship. Mr. Clagnaz was senior vice president, underwriting at ACE USA Global Property.
The first $5,000 scholarship will be awarded to an undergraduate student who permanently resides in the New York City area, including the five boroughs, and is pursuing a degree in risk management or insurance.
Spencer, an organization dedicated to supporting undergraduate and graduate students in the risk management and insurance disciplines, will use the money to create even more scholarship opportunities, said Jeanne H. Braun, chairwoman of Spencer Educational Foundation Inc.
Ms. Braun also thanked Honorary Fundraising Chairman Thomas R. Tizzio Sr., formerly of American International Group Inc., for his dedication to the foundation. Mr. Tizzio said the scholarships will help keep the educational process moving in the industry.
Eden Kratchman, executive director of ACE-INA Foundation in Philadelphia, Pa., said the scholarship was created to honor Mr. Clagnaz, in New York, and to help the students of risk management.
The ACE Group pledge marks the largest corporate donation made to Spencer Educational Foundation Inc. within the last three years.
Since 1980, Spencer Educational Foundation has awarded more than $2.6 million in scholarships and $1.4 million in grants to students pursuing degrees in, and universities offering programs for, risk management and insurance.
The foundation said it is seeking risk managers to give presentations and lectures for its “Risk Manager In Residence” program. The foundation will award grants to colleges and universities to host this program.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
