MBIA awards scholarships, announces dividends

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The Recreational Boating Industries Educational Foundation awarded $7,000 in scholarship funds to 11 students for the 2010-11 school year.

The RBIEF scholarship fund was developed in 1984 by the Michigan Boating Industries Association as a support program for students interested in pursuing careers in the recreational boating industry.

With this granting, the fund will have distributed $313,146 to deserving students. In addition to the monetary aid, the foundation coordinates placement for students with MBIA members for work study during the summer months.

"There are many interesting and challenging jobs within the boating industry and we are passionate about educating students about our industry," said RBIEF chairman John Hatfield of Howe Interlakes Marine, in a statement. "All industries can benefit from bright young minds and the perspectives of our younger generations."

In other MBIA news, the association also announced that 48 of its members participating in the Great Midwest Insurance Company program have qualified to receive a 5 percent dividend check as a result of participating in the 2009 program.

Dividends are a result of members' efforts to reduce risks within their businesses to not only protect employees and customers, but also to help reduce claims.

"We are very pleased to announce a 5 percent dividend for 2009, based on the earned premium for the member's package and workers compensation policies," MBIA president Van W. Snider Jr. said in a statement. "The program offers competitive rates and can further lower overall insurance costs with the dividends."