Major New Scholarship Announcement

The Corporation of Insurance Brokers of New Zealand and New Zealand Insurance have just launched a major insurance industry scholarship worth $25,000, available to be used for overseas travel to undertake advanced technical study or a research project that will benefit the general insurance industry in New Zealand.

Those who are eligible to apply for the award will be general insurance brokers who are employed by a member firm of the Corporation of Insurance Brokers of New Zealand (CIBNZ).

The scholarship is the brainchild of the president of the CIBNZ, Richard Russell, who says he has been thinking for some time about the need for a vehicle that could be used to lift the standard and professionalism of insurance brokers in the general insurance market.

"We need to set standards of excellence for those in the industry to strive for, and what better way than through a scholarship for a research project that can add to the knowledge of the whole industry," he said.

Mike Hannan, chief executive of New Zealand Insurance is equally enthusiastic about the CIBNZ New Zealand Insurance Scholarship.

"To support the CIBNZ by providing this scholarship not only cements our good relationship with CIBNZ members, but also fits in well with the emphasis New Zealand Insurance places on training and development."

In terms of how the scholarship will work, Mike Hannan revealed the following details;

What the Scholarship will cover

The value of the scholarship is for a maximum of $25,000. Details of the applicant's proposed expenditure is to be included with the application and will be applied to the following costs:

· enrolment fees to undertake an approved overseas course, study tour or research project · economy class return airfares · accommodation for up to four weeks · a daily allowance for reasonable living expenses

Mike Hannan says approved courses, study tours or research projects will be those of a technical nature which will enhance both the recipient's and the industry's depth of knowledge of a specific area of insurance and the recipients professional development.

At the conclusion of their study or research project, the successful applicant will be required to provide a report of between 5-10,000 words, to be delivered to the selection panel within eight weeks of completion of the study or within 12 months of winning the scholarship. The report will be required to be of a publishable standard.

The selection panel for the scholarship will consist of the chief executive of New Zealand Insurance Ltd, the president of the CIBNZ and the chief executive of the Insurance Council of New Zealand.

Mike Hannan says the successful candidate for the 2001/2002 CIBNZ New Zealand Insurance Scholarship will be announced at the New Zealand Insurance Dinner at the CIBNZ Conference on Saturday, 22 September 2001 in Queenstown.

Application forms for the 2001 scholarship are available from the CIBNZ, CPO Box 3825, Auckland.

ENDS

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