Ministry of Education Partners with CIIA to provide Enhanced Scholarship
Published 10th October 2016, 12:51pm
The Ministry of Education, Employment, and Gender Affairs and the Cayman Islands Insurance Association (CIIA) have come together to collaborate on an enhanced scholarship award opportunity for young Caymanians.
The “Cayman Islands Insurance Association Scholarship” is valued up to a maximum of CI$30,000.00 per year for up to 4 years of study. It is a combined scholarship award with CIIA providing up to CI$10,000.00 per year to enhance the Cayman Islands Government Scholarship Award of up to CI$20,000 per year. The scholarship will be awarded to two deserving Caymanians who have an interest in the insurance industry and who wish to pursue studies in insurance, risk management or actuarial sciences. The scholarship will be awarded to one student each for two consecutive years and will then be provided again in 4 years time or sooner depending on when the first two recipients complete their degrees.
Minister for Education, the Hon. Tara Rivers, expressed her gratitude for the partnership with the private sector organisation saying, “I would like to thank CIIA for partnering with the Ministry to provide this enhanced scholarship opportunity to deserving Caymanians interested in pursuing studies relevant to a career in the insurance industry. An exciting component of this partnership is that it will assist with the preparedness of the students to effectively transition into and advance in the insurance industry post completion, as it also provides an opportunity to gain hands on work experience and create networks in the industry.”
This scholarship includes CIIA implementing a mentoring programme and a structured summer employment programme for successful scholarship recipients. This will provide recipients with career guidance, work experience that will align with the students’ courses being taken and money management. CIIA will also include a work readiness component.
Commenting on the scholarship, CIIA Secretary Mrs. Linda Key said, “One of the main focuses of the CIIA is education and professional development of our own members to increase their knowledge of insurance, and also for the public who may have an interest in various insurance topics. The offer of our Scholarship is to encourage talented individuals in Cayman to look at a career in the insurance industry. We are very excited to begin this partnership with the Ministry of Education and work with the respective CIIA scholarship recipients as they pursue their undergraduate degrees.”
The CIIA was formed in 2004 to bring together the various associations representing the insurance industry in the Cayman Islands. The CIIA seeks to unite all member agents, brokers and companies to create and maintain the highest standards of service, ethics, transparency and good practice in all aspects of insurance in the Cayman Islands, thus protecting and promoting the national and international reputation of the Cayman Islands insurance market. CIIA’s website is www.ciia.ky.