About the IRUA Scholars Program
The first part of the program enables IRUA member companies to encourage their own interns to apply to participate in the Scholars Awards offering monetary amounts determined by the Board based on a competitive written essay submission.Interns can be working in any department at their host company, however, the host company must be an IRUA member. Initially, an intern must complete and submit an application since, for tax reasons, only U.S. citizens and individuals legally permitted to work in the United States are eligible for the program. The specifics of the Scholars Program are subject to change at any time by either the Scholars Committee or the Board of Directors.
Once approved an essay must be submitted by the early September cut-off date specified. In order to qualify, essays must be a 3 – 4000 word “white paper; submitted in a microsoft Word document, on a specific insurance or reinsurance topic of your choice and should provide a detailed explanation on the relevance, impact or potential impact to the reinsurance industry. Authors must attribute, in footnotes, all sources and must have the contractual right to use any graphics or images. The IRUA Scholars Committee will review the essays submitted and determine the winners of an award, the number and monetary value of which will be decided each year. The goal is for winners to be announced by mid-October each year.
The second part of the Scholars Program will expand the IRUA outreach to the risk management and insurance schools at universities and colleges nationwide through visits and presentations by IRUA member company executives. The goal is to expand the exposure to reinsurance for students/interns through enhanced networking and interaction with existing industry professionals. This aspect of the program is still being developed.
The Scholars Awards program is funded by member contributions so if you have questions or wish to make a financial contribution please contact Executive Director, Jerry Wallis, at email@example.com.
Important Essay Details
All applicants must be a summer intern at any IRUA member company and currently enrolled at a full-time college or university. Only applicants with a U.S. Social Security number are eligible.
- In 2018, IRUA again awarded a total of $17,000 to the winners of the essay contest.
- In 2019, the total amount disbursed was $10,000 and, regretably, due to the COVID-19 pandemic we were not able to offer the program in 2020. For 2021 we will know by late-Spring whether or not we are able to offer the program depending on member companies input as to intern intakes and logistical issues. If held, the amount disbursed will be determined by the Board of Directors. The essays are judged and amounts awarded by the Scholars Committee
- In order to qualify, essays must be a 3- 4000 word, “white paper”, submitted in Microsoft Word format, on a specific insurance or reinsurance topic of your choice and should provide a detailed explanation on the relevance, impact or potential impact to the reinsurance industry.
- As a reminder, interns can be working in any department at their host company; however, the host company must be an IRUA member.
Applications and Completed Essays Deadlines:
Application Due Date: As soon as you know you would like to participate
Essay Due Date: September , 2021 – final date tba
Submission of Application & Essay: Application and Essays are to be emailed to: Maria Sclafani at firstname.lastname@example.org.
NOTE – Upon submission, you will receive an email confirmation when your application/essay has been received. Over the course of the following 12 months, each winning paper will be published in the Journal of Reinsurance so be sure to read it when it hits your email inbox!
A copy of the Scholarship Criteria can be obtained by clicking on the link below. To download a Scholarship application, download from the link below and email it to Maria Sclafani in our administrative office at: email@example.com.
2021 Scholarship Essay Program – still uncertain whether we can offer this year.
2020 Scholarship Essay Program – CANCELLED
With offices closed for much of the year it was not possible to offer the program this year and all funds collected will be carried forward to 2021 when we hope to again offer this popular program.
2019 Scholarship Award Winning Papers
First Place: Zubyn D’Costa of Wellesley College in Massachusetts. She interned at Munich Re America in their Innovation Incubator and came in first place with her essay entitled: “Mitigating Food Risks in the New World”.
Second Place: Nadezhda Karkelenova of the Rutgers University in New Jersey. She, too, interned at Munich Re America and received second place for her essay entitled: “Meet Meat: How New Innovations in Agriculture Could Affect the (Re)Insurance World”.
Third Place : Liam Hettinger of Depaul University in Illinois. He interned at Arch Re and was judged the third place winner for his essay entitled: “Mergers and Acquisitions in the Eye of Storm?”.
Thanks to the generosity of our members, a total of $10,000 has been disbursed to these awardees.
Congratulations to the winners and our thanks to all the other student interns who submitted papers and our member companies for their generosity in supporting this program.
2018 Scholarship Award Winning Papers
First Place: Luke Schwenke of the College of William & Mary in Virginia. Luke interned at Markel Corporation and received first pace for his essay entitled: “Insuring against Unknown Cyber Attacks in the Age of the Internet of Things”
Second Place: Sean McDermott of Loyola University in Maryland. Sean interned at Transatlantic Re and recived second place for his essay entitled: “Blockchain Technology – Why the Insurance/Reinsurance Industry will Never be the Same”
Third Place: Elizabeth Cunningham of the University of New Hampshire. Elizabeth interned at Crum & Forster and received third place for her essay entitled: “Cannabis Coverage: A Redirection of Insurance?”
Thanks to the generosity of our members a total of $17,750 has now been disbursed to these awardees.
Congratulations to all winners and our thanks to all the other student interns who submitted papers and our member companies for making this the highest award level year in IRUA history.
Over the course of the next 12 months each paper will be published in the IRUA’s Journal of Reinsurance, which is available as a benefit of membership or as a paid subscription. The unique Journal has, over the past 25 years, provided over 400 articles on technical reinsurance texts; financial related articles; current, emerging & potentially future risk explanations & analysis and is used by, among others, The Institutes as a source for CPCU study materials and by attorneys as a source of expert reference. All articles are available to members and subscribers in the “JOR Archive” section of our website.
For more information regarding the Scholars Program or becoming a member of the IRUA, please contact Jerry Wallis, IRUA Executive Director, at firstname.lastname@example.org