The Nevada Independent Insurance Agents said a scholarship hasbeen established in the name of Alice Molasky-Arman, the state'sretiring insurance commissioner.

Gov. Jim Gibbons announced in April that Ms. Molasky-Arman wouldbe retiring Sept. 7. A spokesman for Mr. Gibbons said today thatthe search for her successor is still in progress and an actingappointment may be made. The eventual selection will be made byDepartment of Business and Industries Director Dianne Cornwall.

The scholarship established under the Insurance Agents &Brokers of Nevada Scholarship fund will be awarded to students atUniversity of Nevada, Reno and University of Nevada, Las Vegas forBusiness and Finance studies.

The scholarship is to begin in January 2009 and awards $2,500each semester at each campus. The agents group said a secondscholarship has also been established in her name to benefitUniversity of Nevada, Reno and University of Nevada, Las Vegas.

The organization said the fund has been created in recognitionof Ms. Molasky-Arman's “tremendous service to the state.” Theannouncement said since her appointment in 1995 Ms. Molasky-Arman'snumerous accomplishments included the strengthening of thedivision's enforcement section, cracking down on insurance fraudand illegal activities, increasing the financial oversight ofinsurers, and imposing greater solvency requirements for HMO's.

The group also noted her public information campaigns on avariety of topics including establishment of a public servicehotline and Web site for verifying the status of insurance carriersauthorized to write business in Nevada.

Commissioner Molasky-Arman was also involved in pushinglegislation which established a reinsurance program for healthinsurers and with establishing Nevada's Essential InsuranceAssociation for Medical Malpractice.