RIMS Canada Backs Foundation RM Program

NU Online News Service, Nov. 25, 12:53 p.m. EST? The Risk and Insurance Management Society Inc. of Canada is providing backing for William H. McGannon Foundation study grants supporting risk management education, research, mentorship and work experience programs, it was announced.

The foundation will provide “much needed resources for risk management students and professionals to stay current on persistent issues that are affecting their career development,” said Joseph Restoule, the first president of the foundation and RIMS vice president of strategic opportunities. Mr. Restoule is senior risk consultant with Nova Corp. in Alberta, Canada.

The grants are available to undergraduates or post-graduates interested in risk management, as well as established risk managers who want to further their education or conduct research, according to New York-based RIMS.

The McGannon Foundation will begin accepting applications in the spring of 2003. The first grants will be awarded in September 2003. The foundation has sought charitable status with Revenue Canada and will be able to offer tax receipts to donors in 2003, RIMS said.

Mr. McGannon was the first risk manager in Canada to set up a full service risk management department with loss prevention agencies and statistical support at Nova Chemicals Corporation in Alberta in 1979.

According to RIMS, Mr. McGannon frequently lectures at the University of Calgary, where he supported setting up the Chair of Risk Management at the University.