Sedgwick Claims Management Services, Inc. and the Spencer Educational Foundation, an organization that administers both named and unnamed memorial scholarships, recently entered into a partnership that will result in an educational fund in honor of the former's late chief operating officer, Steven E. Penman.

Starting next year, the merit-based Sedgwick/Penman scholarship will be awarded annually to one undergraduate college student who is studying risk management, insurance, actuarial science or business, and who meets the foundation's eligibility guidelines.

Penman worked for Sedgwick from 1978 until his retirement in 2016. Sedgwick has pledged $100,000 over three years to the scholarship initiative.

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Elana Ashanti Jefferson

Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].