Foundation to offer additional scholarships

Pledges of approximately $800,000 during the 2000-01 fiscal year puts the Derek Hughes/NAPSLO Educational Foundation well on its way to achieving its goal of raising $3 million by the end of 2002.

As of July 31, 2001 the Foundation had assets of nearly $2.8 million and much of the additional pledges are a result of the Campaign 21 effort started in 2000.

"The industry has been great in responding to our requests and these pledges will help the Foundation continue all of our educational efforts," said Foundation President Joseph Timmons, ASLI. "Proceeds will allow us to fund additional research projects and scholarships for students studying insurance."

Since July additional funds have been pledged to allow the Foundation to increase the number of scholarships it offers (see story below).

During the past fiscal year, the Foundation has received a number of multi-year pledges from the following firms: $30,000 from the Kemper Educational and Charitable Fund, which represents their third pledge of $30,000; $25,000 from American Equity Insurance Company; $20,000 on behalf of Penn-America Insurance Company; and $15,000 each from Gresham & Associates, Inc., American Marketing Center, Inc., United States Liability Insurance Group, Westrope & Associates, and the Surplus Line Association of Oregon.

In addition, Mark Wells, publisher of the Insurance Journal and the Insurance Journal of Texas, assisted the Foundation by donating advertising space in the publications to run advertisements promoting the Associate in Surplus Lines Insurance (ASLI) designation program.

Other multi-year pledges made during the last fiscal year include All Risks, Ltd., McFall General Agency, Inc., U.S. Risk Insurance Group, TAPCO Underwriters, Inc. and Westphalen Insurance Services.

Campaign 21
Since Campaign 21 started in the summer of 2000, the Foundation has received more than 20 pledges, increasing the Foundation’s assets to more than $2.8 million.

The Foundation established Campaign 21 to raise an additional $1 million by the end of 2002 through two specific objectives: developing new sources of revenue and increasing the level of contributions from past contributors.

Since it was founded, the Foundation has worked on four major areas: studying the solvency of the excess and surplus lines market; creating a professional designation program specific to the Excess and Surplus Lines industry; establishing a scholarship program; and funding research projects.