Hull & Company senior managers establish Richard Hull Educational Insurance Scholarship

The Derek Hughes/NAPSLO Educational Foundation announced that senior managers of Hull & Company, Inc., in conjunction with Brown & Brown, Inc., have established an insurance educational scholarship in the name of Hull & Company founder and current CEO, Richard Hull.

The scholarship was announced on March 11 at a Hull & Company dinner recognizing Mr. Hull. Hull & Company managers involved in setting up the scholarships were President Ed Calabrese; Executive Vice President Mike Riordan; Senior Vice Presidents Bill Simons, Bob McGrew and Bruce Bowers; and Vice President Chris Hull.

“Dick has provided us with many wonderful opportunities and we wanted to do something that would honor him for his generosity and thank him for his years of support,” said Ed Calabrese.

Added Bob McGrew, “Education is something that Dick strongly believes in and he believes it’s critical to the growth of our business. Teaming with the Foundation and NAPSLO, which Dick helped to establish in the early 1970s, to train future leaders in our business, is a perfect way to thank him for all he has done for us.”

The scholarship, managed by the Foundation, will provide for the annual financial needs of one student enrolled in an Insurance & Risk Management degree program. The qualifications are triggered by academic performance and need.

“We are pleased to recognize Richard Hull with this scholarship and thank the Hull & Company managers for their generous donation,” said Foundation President Joseph Timmons, ASLI. “The scholarship program allows us to help students interested in insurance complete their studies and also potentially bring top students to work in our segment of the industry.”

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 and other Foundation scholarships, 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.

MEDIA CONTACTS:
Mike Ardis – (816) 741-3910
Chris Hull – (954) 527-4855 x257