Foundation’s new pledges push it halfway to goal

Recent pledges of approximately $500,000 have boosted the Derek Hughes/NAPSLO Educational Foundation to halfway toward its Campaign 21 goal of raising an additional $1 million by the end of 2002.

"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."

The lead pledge to the Foundation in the Campaign 21 effort was made by the Westchester Specialty Division of ACE USA, located in Atlanta, which pledged $100,000 over five years.

Other major multi-year pledges include $50,000 each from Colony Insurance Co., Richmond, Va. and Western World Insurance Group, Franklin Lakes, NJ, and $25,000 each from Crump Insurance Services, Inc., Dallas; Heath Insurance Brokers, Dallas; Interstate Insurance Group, Chicago; MTS Insurance Services, LLC, Chatsworth, Calif.; Northland Insurance Co., St. Paul, Minn.; and Swett & Crawford, Woodland Hills, Calif.

Western World, Crump, Swett, and Heath previously made major contributions to the Foundation.

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 $2.5 million.

The Foundation established Campaign 21 with a goal to raise an additional $1 million by the end of the year 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.