Foundation nears $3.7 million mark

Thanks to numerous contributions, the Derek Hughes/NAPSLO Educational Foundation has raised nearly  $3.7 million by the end of the 2003 fiscal year.

Since then, additional contributions have been made, including a significant pledge by Lloyd's, with the potential to be a multiyear pledge. Based on current investment returns and expected expenses, the Foundation current fundraising goal is $5 million.

"Our success is due in many parts to the efforts of directors Marcus Payne and Max Williamson," said President Joseph D. Timmons, CPCU, ASLI. "We plan on working with Lloyd's regarding their pledge to develop education programs."

A number of firms made significant pledges or contributions in 2003, including: CRC Insurance Services, Inc. ($100,000), Kemper Educational and Charitable Fund ($45,000), General Star Indemnity Company ($25,000), Excess Line Association of New York ($20,000), United National Insurance Company ($20,000), Mississippi Surplus Lines Association ($5,000), Surplus Lines Association of Washington ($5,000), and Surplus Lines Stamping Office of Texas ($5,000).  In addition, an anonymous donor contributed $40,000 to the Scott W. Polley Memorial Scholarship Fund.

In a new project, the NAPSLO Communications & Technology Committee has been actively working to promote the Associate in Surplus Lines Insurance (ASLI) designation in conjunction with the Foundation. 

The committee developed a slide presentation to use in promoting the  ASLI designation and also developed and sent letters to NAPSLO member firms requesting that they encourage their employees to achieve the designation.

The Foundation again worked with several publications in a project to assist the  designation. Ads promoting the ASLI designation were run in 2002 in the Insurance Journal and the Insurance Journal of Texas and in 2003 the ads ran in American Agent & Broker, National Underwriter and Rough Notes magazines.