Three seniors expected to receive bachelor of science degrees in business administration in May and majoring in the risk management and insurance track of general management at the University of Southern Maine have received a combined total of $29,000 in scholarships from The Patriot Foundation Scholarship Fund of the Maine Community Foundation.
Patriot Mutual merged with Frankenmuth in 2007 and established the Patriot Education Scholarship Fund at the Maine Community Foundation out of its commitment to support graduates of Maine high schools currently pursuing a degree in business at a Maine college or university. Applicants demonstrating interest in personal and commercial insurance professions are given preference for the award.
Lincoln Merrill, president and CEO of Patriot Insurance Company, a member of the USM School of Business Advisory Council and of USM’s Risk Management Advisory Council, said Patriot Insurance endeavors to support the university’s risk management and insurance program because of its value to the industry as a whole, not solely to benefit Patriot Insurance. “The reason we are so committed to these scholarships is that our industry is facing a huge number of retirements in the coming years,” he said. Well-educated and qualified graduates of the program enable replenishment of personnel lost to retirement.
Steven Falconer of Portland, a graduate of Portland High School, has an associate of science in business administration degree from Southern Maine Community College in South Portland. He is a patient representative at Martin’s Point Health Care in Portland and is a participant in Enactus at USM. Falconer is the son of Laquette Falconer of South Portland and Thomas Falconer of Chesapeake, Virginia.
Sarah Moody of Scarborough, daughter of Jill Moody of Scarborough and Mac Moody of Houlton, interned at Prudential Financial, Inc. in its Group Insurance Performance Measurements last summer. She now is a part-time employee at Prudential and will be employed full-time there after graduation in May. Moody serves as a scorekeeper at USM basketball games for the National Collegiate Athletic Association. She is a 2010 graduate of Scarborough High School.
Cody Souviney of Winslow, a 2010 graduate of Winslow High School, interned at Prudential Financial, Inc. in its Group Insurance Disability Operations last summer and has worked in the Sullivan Recreation and Fitness Center on the Portland campus of USM. He is now a full-time disability claim manager at Prudential Financial, Inc. Souviney is the son of James and Janice Souviney of Winslow.
Merrill stated that Patriot Insurance was in a good financial position this year to reduce the hardship students endure with costs of tuition. “These students have so much debt, and we have the ability this year to help them complete their education without having to worry about the expense,” said Merrill. Four graduates of USM’s risk management and insurance program, including Tom Gosselin, a 2013 alumnus and a recipient of the same scholarship, are currently employed by Patriot Insurance.