Print: Share:
  • Newsroom
  • News Releases
  • Spencer Educational Foundation Awards US$50,000 Loss Prevention Education Grant to Temple University Funded By FM Global

Spencer Educational Foundation Awards US$50,000 Loss Prevention Education Grant to Temple University Funded By FM Global

Spencer Educational Foundation, Inc. has announced that Temple University, Philadelphia, Penn., USA, has been awarded a US$50,000 grant to further students' knowledge regarding loss prevention. The Loss Prevention Education Grant is funded by FM Global, one of the world's largest commercial property insurance companies.

"The Foundation's mission is to fund the education of tomorrow's industry leaders. Through this grant and the generosity of FM Global, we are funding the body of knowledge and resources that are available to tomorrow's leaders," said Peggy Accordino, chairwoman, Spencer Educational Foundation, Inc. "We congratulate Temple University on being selected for this grant."

Temple University's proposal was submitted by Michael McCloskey, an instructor in the university's department of risk, insurance and healthcare management. The proposal seeks to develop course material to provide students with a "healthy understanding of how engineering plays a role in loss prevention, especially in property and safety risks." Mr. McCloskey will develop five modules for inclusion in current undergraduate curriculum as well as video material to incorporate in graduate-level studies.

"We are thrilled to have the opportunity to partner with FM Global and Spencer," said McCloskey. "As a visitor to the FM Global facilities and a witness to their leading research and education on loss control, it will be an exciting endeavour to deliver this material to future members of the insurance industry. I am enthusiastic about the partnership and look forward to the impact and results we will make in the students' education and the role of loss control in the risk management landscape."

"We are pleased to fund this grant which will enhance the education of risk management and insurance students regarding loss prevention and safety issues," said Brion Callori, senior vice president, engineering and research, FM Global. "By educating students on the value of engineering and how losses are preventable, not inevitable, they can help the organisations they will work for become more resilient."

In 2008, FM Global contributed US$525,000 to the Spencer Educational Foundation, the largest one-time gift in the Foundation's 34-year history. The gift included US$300,000 earmarked to assist universities in developing new loss prevention-related courses. Previous grants have been awarded to the University of Hartford, Hartford, Conn., USA, Virginia Commonwealth University,Richmond, Va., USA Ball State University, Muncie, IN, USA California State University, Fullerton, Fullerton, Calif., USA and Old Dominion University, Norfolk, Va., USA. The remaining funds have gone towards annual FM Global unrestricted scholarships for students pursuing a degree in risk management or insurance.

About FM Global

For nearly two centuries, many of the world's largest organisations have turned to FM Global (www.fmglobal.co.uk) to develop cost-effective property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. With clients in more than 130 countries, FM Global has been named "Best Property Insurer in the World" by Euromoney magazine, "Best Global Property Insurer" by Global Finance magazine and received the prestigious Queen's Award for Enterprise. In the United Kingdom, FM Global is the communicative name for FM Insurance Company Limited, which celebrates its 50th anniversary of international operation in 2013.

About Spencer Educational Foundation, Inc.

Established in 1979 to honor the late Robert S. Spencer, the Foundation (www.spencered.org) is funding the education of tomorrow's risk management and insurance leaders.