Kennedys gifts scholarship program at St. John’s to boost diversity in insurance industry
Kennedys is pleased to announce a scholarship program aimed at increasing diversity within the insurance industry.
The scholarships will be earmarked for graduate students studying at St John’s University Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science New York. The school has a leading reputation in insurance, training actuaries, underwriters, claims specialists and other insurance professionals.
Kennedys already has a close relationship with the University, with US partner Christopher Carroll sitting on the Advisory Board of the Center for the Study of Insurance Regulation. The firm also sponsors various annual initiatives, including offering seminars globally on insurance law to visiting students from the university’s international study program.
Following an internal review of D&I initiatives and priorities, global law firm Kennedys reaffirmed its commitment to diversity and inclusion this year with the formation of new D&I committees in each region.
One of the first initiatives in the US is the creation of the scholarship program which aims to create a more diverse workforce in the insurance industry by ensuring that talented individuals have the opportunity to go on to qualify as specialists in risk management.
The fund will initially cover a four-year period, with selection criteria that seeks applications from students pursuing a graduate degree in risk management, insurance and actuarial science who identify as part of an underrepresented group, including first generation college students. Kennedys’ scholarships to students will begin being granted in early 2021.
“For many years, the Greenberg School of Risk Management at St. John's has worked closely with Kennedys to strengthen experiential education offerings for our students,” says Dean, Brandon W. Sweitzer. “With this new and generous scholarship action, Kennedys continues to deepen this cooperation — thereby underpinning the University’s resolute and enhanced aim to level the playing field for students from historically underrepresented backgrounds.”
The events of 2020 revealed the true lack of diversity in US workplaces, including in both the legal and insurance professions. We wanted to do something that would make an actionable difference toward a more diverse and inclusive workplace.
Meg Catalano, US Managing Partner
Meg Catalano, US Managing Partner and member of Kennedys’ Global Strategy Board, says, “The events of 2020 revealed the true lack of diversity in US workplaces, including in both the legal and insurance professions. We wanted to do something that would make an actionable difference toward a more diverse and inclusive workplace.
“Access to education is key to improving social mobility, yet many college graduates from less privileged backgrounds struggle to fund postgraduate study at universities like St. John’s that provide a pipeline for the next generation of insurance professionals. We hope that this program gives a diverse range of students the opportunity to specialize in their chosen field and to embark on successful careers.”
Partner Christopher Carroll, who also sits on the firm’s Global Strategy Board at Kennedys, added: “We have had a strong relationship with the Greenberg School of Risk Management for some time and have been involved in its international study program. Many of our clients draw from the talented graduates to find the future leadership in the industry.
“We look forward to working with them over the next four years to help those who are committed to a career in the insurance industry but might otherwise have been unable to go on to further study.”