NEW YORK, N.Y.—Spencer Educational Foundation has announced that P. Richard Hackenburg, CPCU, has been contracted by the Foundation to be the Director of Development. Hackenburg will raise funds for scholarships and grant programs that support aspiring students of risk management and insurance.

"Spencer Educational Foundation has received tremendous support from all facets of our industry over the years. At the same time, the needs of students and educational institutions have grown and the cost of education has increased," says Donna L. Galer, chairwoman of Spencer Educational Foundation, Inc. "Having spent years in risk management and insurance, Richard is well qualified to assist the Foundation in its fundraising efforts. I am delighted and proud that he has committed himself to helping us build and enhance the risk management profession."

Hackenburg was vice president of insurance services at FOJP Service Corporation-the risk management adviser to major healthcare, long term care and philanthropic agencies operating in the greater metropolitan New York area. Prior to his position with FOJP, he served in various capacities for Willis including chief executive officer of the Willis St. Louis office, CEO of Willis Risk Solutions, and president and COO of the advanced risk management services division of Willis North America Inc., Nashville, Tennessee. For three years, Richard also served XL Insurance Company Ltd. in underwriting and marketing capacities in Bermuda and the United States.

Hackenburg served as a board member of the Risk and Insurance Management Society (RIMS) from 1980-1986 and as RIMS president in 1985-1986. In 1993, he received the Dorothy and Harry Goodell Award, RIMS most prestigious award which pays tribute to an individual who has furthered the goals of the Society and the risk management discipline through outstanding service and achievement. He also served as a board member of Spencer Educational Foundation for more than 20 years, as well as chairman from 2001-2004. Hackenburg has been a member of the Captive Insurance Companies Association (CICA), Manufacturers Alliance for Productivity and Innovation (MAPI), National Association of Insurance Brokers (NAIB) and American Management Association (AMA), where he was a president of the Insurance Council and member of the AMA Board of Directors.

Since 1980, Spencer Educational Foundation has awarded more than $3.6 million in scholarships and $2 million in grants to students pursuing degrees and universities offering programs in risk management and insurance. Most recently, the Foundation received a $525,000 gift from FM Global and a $300,000 donation from the Risk and Insurance Management Society. In 2007, the Foundation awarded more than $300,000 in scholarships and more than $150,000 in grants.

For more information or to make a donation to Spencer Educational Foundation, visit www.spencered.org.