Most Popular Insurance Designations
How Becoming a CPCU, CLU, CIC, AIC, or ARM Can Further One's Career
The insurance industry is home to a large number of lucrative and challenging careers. The most recent report on insurance careers issued by the Bureau of Labor Statistics states that insurance professionals hold more than 2.5 million jobs in the United States, and that the industry will add an additional 125,000 jobs by the year 2016.
This large and lucrative field is very competitive, which is why it is important for workers in the insurance arena to develop their skill sets as thoroughly as possible. The most effective way to do this is by earning one or more insurance designations.
How to Earn An Insurance Designation
Insurance designations can be earned in a number of ways, with the most common being through self study courses and standardized testing. Insurance professionals who wish to differentiate themselves from the ever-growing pool of competitors in their field can do so by becoming one of the following:
- Chartered Property Casualty Underwriter (CPCU) -- The CPCU is the premier designation for property insurance professionals. It is held by underwriters, agents, legal professinals, regional sales managers, claims adjusters, and many others. Regarded as one of the most difficult to earn, the CPCU designation is obtained after successfully passing eight written examinations.
- Chartered Life Underwriter (CLU) --Much like the CPCU, CLU candidates are viewed as Life and Health Insurance experts. This prestigious designation is also earned by passing eight college-level written examinations.
- Certified Insurance Counselor (CIC) --The CIC designation is earned by taking a series of courses covering a broad spectrum of subjects, including Personal Lines, Commercial Casualty, Commercial Property, Life & Health, and Agency Management. It is regarded as the most comprehensive sequence of study for agency personnel.
- Associate in Claims (AIC) -- The AIC is designed to help claims professionals increase their knowledge and polish their skills. It is earned after successfully passing four multiple-choice exams.
- Associate in Risk Management (ARM) -- Risk Managers work with large companies to decrease their overall chance of financial loss. The ARM designation, which can be earned by passing three multiple-choice examinations, is for professionals who specialize in risk identification and loss control.
Things to Know Before Pursuing a Designation
It is important to remember that the courses required for each designation are packed with a large amount of densely-compacted information. It will take approximately 60 to 90 days to master the information well enough to pass each module.
It can take two or more years to earn the CPCU or CLU designations. Insurance professionals who have made the time investments necessary to earn a designation all agree that the additional knowledge, respect, and employment benefits are very rewarding.
Most of the designations listed in this article can be obtained through the American Institute for CPCU. CLU courses can be taken in a number of places, with the most common being the American College and the Agent Broker Training Center. The CIC designation is can be obtained through the National Alliance for Insurance Education & Research.
Books for Study
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