UK Market Charitable Trust  

• The UK Market Charitable Trust was set up by the insurance industry following the 9/11 tragedy.
• The Trust was established by major UK players including, amongst others, Allianz, Aon, Beazley, Hiscox, JLT, Marsh, Royal & SunAlliance, Zurich, Lloyd’s and CII, with the intention to give something back to the American insurance industry by helping to invest in its future. 
• Fundraising over the last four years has enabled the market initiative to begin the implementation of their objective to help educate the grass roots of the industry.
• The trust is hosting a ‘first of its kind’ educational programme for two New York insurance students.
• Two undergraduates from St John’s University’s School of Risk Management, Insurance and Actuarial Science, Allah Jackson and Marco Perci, have been selected for funded bursaries.  See launch event images.

This year's programme

John Turner, divisional chairman within Aon, who is hosting the programme in 2005, said: “This is a unique initiative where the industry’s leading players have rallied together to achieve something positive out of such a tragic event. Being the first year, we have a great opportunity to set a precedent and offer undergraduates a fascinating insight into our market and culture. We are already looking to double the number of students for next year.”
The undergraduates will use the opportunity in June to research the UK market and report on their observations from a US perspective. See profiles and timetable. Their month-long programme is themed around the differences and similarities between the workflow and processes of insurance companies, brokers and Lloyd’s.

• The report will focus on comparing the underwriting, pricing and claims processes between composite insurers and Lloyd’s syndicates; the brokers’ approach to product development and services for clients, plus changing insurer relationships across the domestic market and wholesale brokerage; and the history of Lloyd’s, its current role in today’s industry and participation in a global market.

• The students’ assignments will examine changes in the UK insurance market since 2002.

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