Spencer Educational Foundation Reaches $5 Million Milestone

Yesterday, at the RIMS 2013 Annual Conference & Exhibition, the Spencer Educational Foundation announced it hit $5 million in donations since the organization’s inception in 1979. The latest round of funding secured $282,500 worth of scholarships to 50 risk management and insurance students from 19 universities.

“This allows us to touch the lives of students who will eventually be the leaders of risk management,” said John Phelps, RIMS President.

Peggy Accordino, Spencer chairwoman, announced that the organization will use the $300,000 donated by RIMS to promote the establishment of risk management and insurance courses at schools around the country. “We would like to have RMI courses be as commonplace as accounting, statistics, marketing — all those subjects that are needed for business,” she said.

Additionally, Temple University was awarded a $50,000 loss prevention education grant funded by FM Global.

RIMS President John Phelps Outlines the Society’s Future

January marks the changing of the guard for the acting President of the Risk and Insurance Management Society (RIMS). This morning the RIMS office in New York welcomed John Phelps, the 2013 RIMS President. Phelps is currently the director of business risk solutions for Blue Cross and Blue Shield of Florida and has been a member of RIMS for close to 33 years and served on its board of directors for nine years.

“For far too long, the mention of ‘risk’ has struck fear in board rooms around the world,” said Phelps. “As President of RIMS I want to focus on the resources and services that will better equip our members to demonstrate how a more comprehensive understanding of risk can help straighten the path for an organization’s success and exploit the opportunities risk offers every company. I sincerely look forward to the year ahead and to helping our members advance their organization’s risk management capabilities in all business disciplines.”

In the meeting, Phelps stressed that what he sees for the future of RIMS consists of:

  • Being a global leader in all aspects of risk management, which aligns with the vision of RIMS
  • Helping RIMS members add value to their organizations, which will advance risk management in their organizations and help them connect at the c-suite level, which connects to the RIMS mission
  • Bring the next generation of risk management leaders into the fold now, so they can network with risk managers that have lived through the evolution, access the education available to them to enhance their skills and utilize practical resources

This morning at the RIMS office in New York, Phelps described the evolution of risk management from insurance buying and insurance management to enterprise risk management and strategic risk management.