Auckland marine underwriter Alistair Monk has won a $NZ10,000 ($9350) scholarship from the Insurance Council of New Zealand (ICNZ) and the Australian and New Zealand Institute of Insurance and Finance (ANZIIF).

The annual ICNZ & ANZIIF Scholarship recognises New Zealand insurance professionals who demonstrate the potential to become industry leaders.

Mr Monk is a Marine Business Development Underwriter with QBE.

He has also worked as a marine underwriter with Lumley General Insurance (NZ) and a foreign exchange officer with the Bank of New Zealand. He was the New Zealand chairman of ANZIIF’s Generation i young insurance professionals network from 2009 until last year.

Mr Monk, who is currently completing an MBA, won the scholarship with an essay on the reputational risk to insurers in promoting price over adequate coverage and support services.

ICNZ CEO Tim Grafton, who was on the judging panel, says the paper demonstrated a “sophisticated understanding of the industry [and] the market in which it operates”.