During his 17-year career, Robert S. Spencer held numerous risk management positions including vice president of insurance for Fuqua Industries Inc.
At Fuqua, he was responsible for the development and implementation of the organization’s risk management program that included a very diverse portfolio that includes everything from the manufacturing of lawnmowers and sporting good to being the 8th largest trucking company in the United States. In 1976, he co-founded Fuqua’s Bermuda-based captive, Fuqua Insurance Company Ltd.
Robert is credited with setting standards on the dealings of captives with reinsurance markets, both domestic and international. He was also responsible for a workers compensation self retention program that was adopted by 31 U.S. states in the Fuqua program.
Robert served the Atlanta Chapter of RIMS in all officer positions including president in 1973. He also served as a Vice President of RIMS from 1974 – 1977 and RIMS President from 1977 – 1978. He was a founding member of the Canadian Institute of Chartered Accountants.
Most importantly, Robert was quick to share the knowledge he gained with others so that the principles of “good” risk management could be passed on without reinvention. He fostered numerous programs at both the Atlanta Chapter and international levels of RIMS to support students, and expose them to the risk management profession.
Thirty-four years after his death (1979), his legacy continues to provide educational opportunities for young men and women seeking to advance their education in business, insurance, actuarial sciences, and the risk management fields through the Spencer Educational Foundation. Established in 1979 in his memory, the Foundation funds the education of tomorrow’s risk management and insurance industry leaders. Since 1999, the charitable organization has awarded $4.7 million in student scholarships and $2.2 million in educational grants.
Additionally, Robert was responsible for establishing RIMS’ Anita Benedett Student Involvement Program in 1978.
Robert was a native of Red Oak, Iowa graduating from The University of Iowa.