A charitable group formed by New York’s property-casualty industry has awarded its first $1,500 scholarship to a college student.

The New York Insurance Scholarship Foundation Inc. was formed to support students studying insurance in New York. Recognizing the need to bring young people into the industry, the charitable group was developed, according to a statement from the Albany, N.Y.-based group.

Its first scholarship went to Kathleen Vuong, a junior at St. John’s University studying actuarial science.

Vuong, according to the organization, embodies of all these qualities as she carries a near perfect GPA, is involved in numerous academic and community groups and causes and has a strong commitment to making positive contributions to the profession. The scholarship was awarded for the 2009-2010 academic year.

Richard Zick, chair of NYISF, said Vuong is “a remarkable student, and I am sure she has a bright future in the insurance industry.”