With a heightened profile and increasing demands being made on risk managers, the groundwork is being laid to make sure bright, adequately trained professionals will be entering the risk management profession by shoring up university programs and offering scholarships to students interested in the field.
In fact, 2007 was a banner year for donations to the Spencer Educational Foundation, which awards scholarships for risk management programs. Among other donations, the Risk and Insurance Management Society pledged $300,000, while commercial insurer FM Global donated $525,000–the largest contribution to date.
“Last year at this time, our focus was divided into trying to increase our endowment base with fundraising as a focus, and to grow some of our other programs,” said Donna L. Galer, chair of Spencer. “We accomplished both since then. And what's going to be new in 2008, in addition to keeping our focus on fundraising, are some interesting initiatives in the education arena.”
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