The Bermuda Foundation for Insurance Studies (BFIS) has set up a new new $120,000 scholarship for Bermudians looking at a career in insurance.

The new scholarship ? called the BFIS ?Signature? scholarship ? is worth up to $30,000 a year for four years and is open to Freshmen students planning to major in insurance, risk management, actuarial science, mathematics, finance or economics at a university overseas.

BFIS chairman Brian Hall said: ?Since 1996 we have awarded scholarships to students interested in a career in insurance and to date have given over $1.15 million in financial awards to 50 Bermudian students. We have concentrated on building our Endowment Fund and are now in a position to offer this new scholarship while also increasing the amounts of our other scholarships. In total, we have set aside over $260,000 for the education of Bermudian students for the 2005/06 academic year alone.?

Catherine Lapsley, BFIS executive, director advised that students can complete their applications online at www.bfis.bm. Although BFIS offers several overseas scholarships, students are only required to complete one form.

The Bermuda Foundation For Insurance Studies was founded in 1996 by leaders of Bermuda?s insurance industry to ensure Bermudians students have opportunities for the education and training necessary to start careers in insurance through the provision of scholarships, mentoring, internships and career advice.