Westfield Insurance Foundation Scholarship Honors Outgoing CEO

The Westfield Insurance Foundation is creating the James R. Clay Scholarship to honor its outgoing chairman and CEO.

The Ohio Farmers Insurance Co. (OFIC) board of directors authorized the transfer of $100,000 to the Foundation to establish an endowment for the purpose of creating a scholarship to assist college and university students who are pursuing careers in insurance, risk management and insurance-related fields.

In its first year, the James R. Clay Scholarship will provide one $5,000 scholarship. As the endowment grows, additional scholarships will be available. The scholarship will be managed by the Griffith Insurance Education Foundation.

The James R. Clay Scholarship augments two additional scholarships offered by Westfield. They include:

• The Westfield Insurance and Westfield Agents Association Scholarship for insurance and risk management majors, a national scholarship program developed by Westfield and the Westfield Agents Association board to attract talent to the insurance industry (also managed by Griffith Insurance Education Foundation)
• The Westfield Insurance and Westfield Agents Association Academic Scholarship for Dependents of Westfield and Agency Employees, a scholarship program developed by Westfield and the Westfield Agents Association board to recognize and reward excellence in academics, personal achievement, leadership and community involvement of Westfield employees and employees of its agents.

Clay began his 35-year career as part of Westfield’s trainee program and eventually ascended to the role of chairman and CEO.

During his tenure, he demonstrated a persistent focus on attracting both youth and adults to the insurance industry, elevating the significance of employment opportunities available now and in the future. This is evidenced through his service as a trustee of the Griffith Insurance Education Foundation and as a trustee of the Property and Casualty Insurers Association of America.

Clay was selected by Gov. John Kasich to co-chair the Insurance Industry Resource Council (IIRC), a collaboration of 13 Ohio insurance companies that have aligned for a statewide career awareness initiative to address the coming industry talent gap. The insurance industry in Ohio is projected to have 26,000 job openings by 2020.

Since the IIRC was formed in 2012, it has overseen the building of a public-private coalition consisting of insurance companies, insurance trade associations, institutions of higher learning and public officials, all focused on attracting new talent to Ohio’s insurance industry.

Westfield Insurance Foundation was established in 2005 as an independent private foundation endowed by Westfield Insurance.

Source: Westfield Insurance Foundation

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