Fundraising allows increase in scholarships offered

Increased contributions during 1999 will allow the Derek Hughes/NAPSLO Educational Foundation to increase the number of scholarships it will award in 2000.

Overall the Foundation passed the $2 million dollar mark in assets in the fall and at its Winter Board meeting the Foundation voted to increase the number of scholarships offered each year to a maximum of 10.

The purpose of the scholarships are to further the study of insurance and encourage, support, and reward those exceptional students who have an interest in an insurance career.

"One of the hardest decisions the committees reviewing applications have had to make was limiting the list to six individuals," said President Joseph Timmons. "Thanks to a number of contributions our assets now allow us to offer 10 scholarships per year."

Over the past two years the Foundation was able to grant six scholarships each year through the Rolland L. Wiegers Educational Scholarship fund, thanks to a contribution by Scottsdale Insurance Company in recognition of their founder, Rollie Wiegers. In 1999 Scottsdale Insurance Company agents also contributed $32,000 to the fund.

In 2000 the Foundation will award up to nine scholarships from the Wiegers fund and one from the McLaughlin fund.

The Foundation was assisted by significant new pledges and pledges by Royal Specialty Underwriting, Markel Corporation, and OMNI Plus.

"Firms and individuals throughout the industry are recognizing the contributions made by the Foundation," said Timmons. "However, we are still looking for donations to enable us to continue to expand our activities."

The Foundation continues to fund the Annual Review of the Surplus Lines Industry by the A.M. Best Company and works with the Insurance Institute of America on the Associate in Surplus Lines Insurance designation and 85 people received the designation in the fall.

The Foundation also worked with NAPSLO to help bring former President George Bush to the 1999 NAPSLO Annual Convention to present the Derek Hughes/NAPSLO Educational Foundation Lecture Series.