The Council Foundation awarded $250,000 in academic scholarships to 50 interns during the 2020–2021 program year, a year marked by significant challenges from the COVID-19 pandemic that required adapting the internship program to remote and hybrid formats. Despite the pandemic, member firms maintained their commitment to hosting interns and supporting the Foundation's talent mission. The program's resilience during COVID-19 demonstrated the industry's long-term investment in talent development.
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The Council Foundation Awards $250,000
in Academic Scholarships to 50 Industry Interns
WASHINGTON, D.C. – August 26, 2020 – The Council Foundation announced today that it is awarding $250,000 in academic scholarships to 50 college students interested in pursuing careers in insurance brokerage. Each intern selected will receive $5,000 toward their college education. Since 2006, the Foundation, formerly known as the Foundation for Agency Management Excellence (FAME), has awarded $2.85 million to 570 students across the country, including $1.6 million to 333 students in the last four years alone.
The Foundation’s Scholarship Program partners with the internship programs of member firms of The Council of Insurance Agents & Brokers in an effort to hire these students back into the firms they interned with and/or retain them in the commercial insurance brokerage sector.
“In a challenging year, we are very pleased with the number of firms who remained committed to their internship programs and ongoing mentorship of new talent in an all-virtual environment,” said Ken A. Crerar, president/CEO of The Council. “It’s critical that we continue to work together to invest in the next generation of leaders and promote the important work we do for millions of people and businesses around the world.”
The mission of The Council Foundation is to bring fresh, diverse talent into the brokerage sector by way of internships with Council member firms. Students must be formally nominated by the respective brokerages at which they worked. In awarding the scholarships, an independent selection committee looks for candidates who have the potential to excel as leaders and contributors to the industry post-graduation.
“If I have learned anything from this experience, it is that the insurance industry is able to adapt to any situation. It is amazing that The Council was still able to offer an opportunity for students already interested in insurance to stay engaged with the industry, even through a global pandemic,” said Logan Morehouse, a summer intern at M3 Insurance.
Noting the financial support, Yasmeen Zoheir, a summer intern at Johnson Kendall & Johnson, Inc said, “This scholarship means so much to me! It represents being able to further pursue my education without thinking about the cost. My internship taught me a lot about the insurance industry, and solidified my career goals.”
“As a firm, we are thrilled with how the scholarship program has evolved along with a refined focus on intern training. Our industry desperately needs to engage the next generation. The Council is a leader in this effort, and we are appreciative of its investment in our interns,” said Jennifer Borislow, Principal & President at Borislow Insurance.
The Council Foundation is a 501c(3) organization administered by The Council of Insurance Agents & Brokers. Contributions made to the Foundation are tax deductible to the full extent allowed by law.
The 2020-21 scholarship recipients are listed below. Four of this year’s recipients have also been honored as named scholars (*) – scholarships that are administered by The Council Foundation – and three of which are permanently endowed: Thomas Tigges, named the Assurex Global Robert P. Ashlock Scholar; Rebecca Shagrin, named the Assurex Global Robert P. Ashlock Game Changer Scholar; John Reilly, named the Dave Oberkircher Future Leader Scholar; and Alexandra Carty, named the Franklin Wheeler Scholar.
