December 18, 2008

Spencer Educational Foundation Launches New Loss Prevention Education Grant Program, Funded by FM Global, for Universities Offering Risk Management Curricula

NEW YORK, N.Y., USA— Spencer Educational Foundation has established two grants for academic institutions with risk management programs seeking to create loss prevention course curricula. The grants, funded by FM Global, one of the world’s largest commercial property insurers, comprise two awards of up to US$50,000 each for the development of undergraduate course modules and a graduate loss prevention course curriculum for students studying risk management.

Eligible grant applicants must represent universities or colleges with a formal risk management program. The two grants will be awarded for:

• Development of one to three undergraduate course modules, of 50 to 75 minutes each in length, that aim to increase students’ understanding of how loss prevention engineering helps manage risk effectively
• Development of a graduate loss prevention course curriculum for students concentrating on risk management

“As companies grow more intertwined and their risks become more geographically dispersed, the need for sound loss prevention methods becomes increasingly important,” said Shivan S. Subramaniam, chairman and CEO of FM Global. “We hope that these educational grants will enable academic institutions with risk management programs to focus on the value of engineering in loss prevention and better prepare students to meet the challenges of the organizations they will one day represent.”

“Risk management programs have a growing need for current and more extensive loss prevention material at both the undergraduate and graduate levels,” added Donna L. Galer, chairwoman of Spencer Educational Foundation, Inc. “Thanks to the donation provided by FM Global, these grants will give universities the financial resources they need to develop relevant and current course material and take a leading role in loss prevention advocacy.”

Grant applications are due by Jan. 30, 2009, and will be awarded by March 2009. For more information, please contact Angela Sabatino, administrative manager, Spencer Educational Foundation, Inc. at (212) 655-6223 or via e-mail at asabatino@spencered.org.

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About Spencer Educational Foundation, Inc.
Spencer Educational Foundation, Inc. stimulates, promotes and encourages promising undergraduate, graduate and doctoral students of risk management disciplines in fulfilling their educational goals by providing scholarship awards and educational grants. Established in 1979 to honor the late Robert S. Spencer, the foundation is administered by its Board of Directors and is affiliated with the Risk and Insurance Management Society, Inc. (RIMS) in New York. For more information, visit www.spencered.org.

About FM Global
FM Global’s clients include one out of every three FORTUNE 1000 companies and similar-sized organizations in more than 130 countries. For nearly 175 years, clients have worked with FM Global to develop robust property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk.

FM Global ranks 583 among FORTUNE magazine’s largest companies in America and was named “Best Property Insurer in the World” by Euromoney magazine and “Best Global Property Insurer” by Global Finance magazine. The company also is rated A+ (Superior) by A.M. Best and ‘AA’ (Very Strong) by Fitch Ratings.

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