Foundation selects 11 college students for $4,000 scholarships

Eleven college students were recently selected by the Derek Hughes/NAPSLO Educational Foundation to receive $4,000 scholarships for the 2006-2007 school year.  NAPSLO also sponsors a scholarship and a member of the NAPSLO Board of Directors helps select the scholarship recipient.

The four students selected to receive a Rolland L. Wiegers Education Scholarship are:

• Sabrina L. Hanitz, Wescosville, Pennsylvania, Temple University
• Derek M. Pace, Columbia, Tennessee, Middle Tennessee State University 
• Timothy J. Parido, Canton, Ohio, The Ohio State University
• Janet L. Stam, Holland, Michigan, Olivet College

The Kevin A. McLaughlin Memorial Scholarship recipient is:

• Craig S. Carpenter, Lowell, Michigan, Olivet College

The three students selected to receive a Scott W. Polley Memorial Scholarship are:

• Katherine L. Araujom, Windsor Locks, Connecticut, Bryant University
• Richard Huynh, Upper Darby, Pennsylvania, Temple University
• Sarah J. Leszczuk, Reading, Pennsylvania, Temple University

The Herbert W. Kaufman Memorial Scholarship recipient is:

• Ryan M. Coburn, Wayland, Michigan, Olivet College

The Derek Hughes/NAPSLO Educational Foundation Insurance Scholarship recipient is:

      • Ana Marie Raducan, Philadelphia, Pennsylvania, Temple University

The NAPSLO Insurance Scholarship recipient is:

      • Aelon Porat, Wynnewood, Pennsylvania, Temple University

The Rolland L. Wiegers Education Scholarship was made possible by a donation to the Foundation by the Scottsdale Insurance Company in honor of the founder of the company.   

The Kevin A. McLaughlin Memorial Scholarship was added in 2000 and came from funds donated in memory of Mr. McLaughlin. 

The Herbert W. Kaufman Memorial Scholarship was added in 2001 from proceeds donated in memory of Herbert W. Kaufman.   

In 2003, the Scott W. Polley Memorial Scholarship was established with contributions in memory of Mr. Polley.

SCHOLARSHIP PROGRAM

In 1998, the Derek Hughes/NAPSLO Educational Foundation established the scholarship program for students pursuing an insurance or business related program of study.  The purpose of the scholarship program is to further the study of insurance and encourage, support, and reward those exceptional students who have an interest in an insurance career. 

In order to be eligible for this Scholarship, students must:

• Be enrolled or accepted for enrollment in an undergraduate or postgraduate degree program, majoring in Actuarial Science, Business, Economics, Finance, Insurance, Management, Risk Management, or Statistics. Majors must be related to a career in insurance.
• Have a GPA of 3.0 or above.  Entering freshmen must rank in the top 25 percent of their high school class or have a GPA of 3.0 or better.
• Complete and submit the scholarship application form, including a personal statement of career objectives, academic accomplishments, and pertinent extracurricular activities, as well as reasons for applying for this scholarship.  Incomplete applications will not be considered.
• Have two scholarship recommendations submitted, one from an academic advisor and one from an employer.
• Have an official academic transcript forwarded to the Scholarship Committee.      
• Financial need will be considered in the awarding of the scholarships.

Previous recipients are eligible to receive the scholarship in subsequent years, but must reapply each year.  To receive a scholarship application, students should contact the Derek Hughes/NAPSLO Educational Foundation at (816) 741-3910 or download the materials from the Foundation section at www.napslo.org.  The application deadline is June 1 each year.

BACKGROUND

The Foundation was established in 1991 by the Board of Directors of the National Association of Professional Surplus Lines Offices, a national trade organization representing the surplus lines insurance industry and the wholesale distribution system.  NAPSLO has more than 1,500 members in the United States, Canada, and Great Britain.

In addition to the scholarship program, the Foundation works on a number of educational products related to the excess and surplus lines industry.

Since 1994, the Foundation has commissioned the A.M. Best Company to produce the Annual Review of the Excess & Surplus Lines Industry.  A.M. Best’s first report in 1994 found that the surplus lines industry solvency record was as good as, if not better, than that of the overall industry.  Reports in subsequent years have come to the same conclusion.

The Foundation also worked with the Insurance Institute of America to establish the Associate in Surplus Lines Insurance (ASLI) designation which provides advanced education about the surplus lines segment of the insurance industry.  The first ASLI designations were awarded in 1997 and to date approximately 900 people have completed the requirements for the designation.

The Foundation has been certified by the Internal Revenue Service as a 501(c)(3) tax exempt organization.