As part of Chubb's overall commitment to promote racial equity, this scholarship will provide financial support and advancement opportunities for diverse students. Scholarships will be awarded to two to five students annually for three years, beginning in the fall 2021 academic year. Recipients also will be considered by Chubb for employment opportunities, where applicable.
The scholarship is named for Robert M. Hernandez, who served on the Chubb Board of Directors for nearly 35 years, including 16 years as independent Lead Director. In addition to his board service at Chubb, Mr. Hernandez had a long and distinguished career at USX Corp., where he held a range of senior finance and executive positions, including serving as Vice Chairman, Director and Chief Financial Officer from 1994 to his retirement in 2001.
"Chubb provides more annual scholarship funds to Robinson RMI students than any other company, helping us train an even greater number of students from diverse backgrounds to become the next generation of risk and insurance leaders," said Stephen H. Shore, Risk Management and Insurance Department chair. "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."
"The creation of the Chubb Robert M. Hernandez Scholarship is a trifecta for the Chubb Charitable Foundation," said Lori Dunstan, Executive Director of the Chubb Charitable Foundation. "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 recognizing and honoring the contributions and leadership of Bob Hernandez, whose commitment and counsel were essential to Chubb's success. Bob exemplifies loyalty, commitment and leadership – qualities that are also instilled in Robinson RMI graduates."
Chubb's historical relationship with George State University, its strong undergraduate RMI program, with a record of graduating Black and Hispanic students and its fourth-place ranking among universities in the nation by U.S. News & World Report, were all important considerations as a Chubb partner. Tremendous market demand makes its B.B.A. degrees in actuarial science and risk management and insurance an engine of social mobility for the program's diverse student body.
Sean Ringsted, Chief Risk Officer at Chubb, said, "At Chubb, we share GSU's vision of breaking barriers and equipping students for a successful career in the risk management and insurance industries. For Chubb, that vision includes advancing racial diversity, equity and inclusion in our industry and our 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."
About the Chubb Charitable Foundation
The Chubb Charitable Foundation supports U.S.-based non-profit organizations through grant-making and projects aligned with defined focus areas including education, the environment, and poverty and health. The Foundation believes that meaningful contributions that support our communities globally provide lasting benefits to society, to Chubb and to Chubb employees. Through philanthropy, global partnerships and company sponsored-volunteer activities focused on giving the gift of time and donations, the Chubb Charitable Foundation supports clearly defined projects that solve problems with measurable and sustainable outcomes, helping people in the countries where we live and work build productive and healthy lives. The Foundation's commitment to higher education is realized through a series of scholarship programs that benefit students with financial need, including people of color.