The Chubb Charitable Foundation has established the Chubb Robert M Hernandez Scholarship for undergraduates studying risk management and insurance (RMI) at Georgia State University's Robinson College of Business.
The scholarship provides financial support and advancement opportunities for diverse students and is part of Chubb’s strategy for promoting racial equity. The scholarships will be awarded to between two and five students annually for three years, beginning in the fall 2021 academic year. Recipients also will be considered for employment opportunities at Chubb, where applicable.
Chubb highlighted George State University’s strong undergraduate RMI programme, its track record of graduating diverse students and the quality of the university overall as reasons for partnering with it.
The scholarship is named after Robert Hernandez who served on Chubb’s board of directors for nearly 35 years, including 16 years as independent lead director. Hernandez also held a range of senior finance and executive positions at USX Corp, including vice chairman and chief financial officer until his retirement in 2001.
Stephen Shore, risk management and insurance department chair, claimed that Chubb provides more annual scholarship funds to Robinson RMI students than any other company.
"With more than one third of RMI undergraduate students eligible for Pell Grants, the Chubb Robert M. Hernandez Scholarship will be transformational to its recipients," he said.
Lori Dunstan, executive director of the Chubb Charitable Foundation, called the new scholarship programme “a trifecta for the Chubb Charitable Foundation."
She said: "We're deepening a decade-long partnership with Georgia State University that has opened new pathways for students to reach their full potential. We're advancing the Foundation's commitment to education by lifting up racially diverse and talented students. And, notably, we are recognising and honoring the contributions and leadership of Bob Hernandez, whose commitment and counsel were essential to Chubb's success.”
Sean Ringsted, chief risk officer at Chubb, said Chubb had a vision of advancing racial diversity, equity and inclusion throughout the industry and its workforce. “The risk management discipline is becoming increasingly critical to shaping and protecting the economy and society of the future, and an education at GSU provides a strong foundation for future leaders of our industry,” he said.
Chubb Charitable Foundation, Robert M Hernandez Scholarship, Stephen Shore, Lori Dunstan, Sean Ringsted