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Risk Management/Insurance Licenses, University Designations and National Designations

Risk management and insurance is a diverse field. Earning a designation or obtaining a license demonstrates that you have acquired specific insurance expertise and is often encouraged or required by employers. In an effort to ensure that our risk management/insurance students remain competitive in the job market, the department provides financial assistance for the costs associated with earning a designation or obtaining a license. The exact level of financial assistance may vary unless specifically indicated.

To learn more, contact Dr. Cassandra Cole, Department Chair, at 850-644-9283.

Licenses

For insurance professionals working in the state of Florida, licensing is managed by the Florida Department of Financial Services external link icon. There are several types of licenses for agents and agencies as well as for adjusters; some are general in nature, while others are for specific lines of coverage. The requirements for each of these licenses vary.

Completion of the risk management/insurance undergraduate or graduate program meets the educational requirements to receive several licenses without sitting for the licensing exams. These include:

  • General Lines Agent License (2-20)
  • Health & Life (Including Annuities & Variable Contracts) Agent License (2-15)
  • All-Lines Adjuster License (6-20)
  • Personal Lines Agent License (20-44)
  • Customer Representative (4-40)

To obtain a license(s), students need to visit the MyProfile page on the Florida Department of Financial Services website, create an account, and follow the instructions for applying for a license(s).  Students are able to apply for multiple licenses at the same time and only pay one application fee ($50).  Note, there is a $5 fee per license.

University Designations

The National Alliance’s University Associate Designations 
The National Alliance offers two designations for undergraduate students, the University Associate Certified Insurance Counselor (UACIC) and the University Associated Certified Risk Manager (UACRM). 

For the UACIC designation, students must: 1) complete RMI 4224 - Property and Liability Insurance Contracts with a grade of “C” or better; and 2) take a second CIC exam through The National Alliance (note: this course can be completed while taking RMI 4347 - Commercial Risk Management). The cost for each is $100. Students completing the designation are eligible for full reimbursement. Students passing RMI 4224 - Property and Casualty Insurance Products only are eligible to apply for CIC credit, but will not receive reimbursement. To learn more, visit The National Alliance website external link icon.

For the UACRM designation, students must: 1) complete RMI 4347 - Commercial Risk Management with a grade of “C” or better; and 2) take the Principles of Risk Management exam through The National Alliance (note: this course can be completed while taking RMI 4347 - Commercial Risk Management). The cost for each is $100. Students completing the designation are eligible for full reimbursement. Students passing RMI 4347 only are eligible to apply for CRM credit, but will not receive reimbursement.  To learn more, visit The National Alliance website external link icon.

Collegiate Studies for CPCU Program
The Institutes, a leading provider of professional education, allows you to earn course waivers for completing coursework with a “B” or better at approved universities through its Collegiate Studies for CPCU Program. The following FSU risk management and insurance classes have been approved: RMI 4292 (CPCU 520), RMI 5710 (CPCU 520), and RMI 4420 (CPCU 530).  In addition, students that are enrolled at an approved college or university, earn two course waivers, and take The Institutes’ Ethics 312 course online can earn the Collegiate Studies for CPCU Certificate.

To learn more, visit The Institute website or contact Dr. Cassandra Cole.

National Designations

Designations are sponsored by a number of organizations and are earned by completing a set of courses or exams. While there are more than 40 designations, the most common include the Associate in Risk Management (ARM), Certified Insurance Counselor (CIC), Chartered Life Underwriter (CLU), Chartered Property Casualty Underwriter (CPCU) and Certified Risk Manager (CRM).

Associate in Risk Management (ARM) external link icon
The ARM designation is administered by the Insurance Institute of America (The Institutes) external link icon. The ARM requires completion of three courses and exams which cover risk assessment, risk control and risk financing. Those focusing on risk management of public entities may want to consider obtaining the ARM-P, which involves completing one additional course. Most recently, The Institutes introduced an ARM-E, which covers enterprise-risk management theories and practices. As with the ARM-P, this designation requires completing one additional course.

Certified Insurance Counselors (CIC) external link icon
The CIC designation is offered by The National Alliance for Insurance Education and Research external link icon and requires the completion of five courses and exams covering the following topics: personal lines, commercial casualty, commercial property, life and health and agency management.

Chartered Life Underwriter (CLU) external link icon
The CLU designation is managed by the American College external link icon. This designation requires the completion of eight courses and exams, five core courses plus three electives. The core courses cover basic insurance planning, individual life insurance, life insurance law, estate planning and planning for business owners and professionals. The elective courses include such topics as individual health insurance, group benefits, retirement needs, investments, and advanced financial planning and estate planning.

Chartered Property Casualty Underwriter (CPCU) external link icon
The CPCU designation is administered by The Institutes external link icon. Similar to the CLU, there are several core courses covering basic risk management and insurance concepts, insurer operations, business law for insurance professionals, and financial and accounting for insurance professionals. There is also an elective course requirement, which covers such specialty topics as workers compensation, financial services and reinsurance. An additional three courses in the either commercial lines or personal lines are also required for a total of eight courses and exams.

Certified Risk Managers (CRM) external link icon
The CRM designation is offered by The National Alliance for Insurance Education and Research external link icon. Similar to the CIC, the designation involves completion of five courses and exams covering various aspects of risk management including: principles of risk management, analysis of risk, control of risk, financing of risk and practice of risk.

Other Useful Designations

The Associate in Commercial Underwriting (AU) external link icon, the Accredited Advisor in Insurance (AAI) external link icon, the Associate in Claims (AIC) external link icon, Certified Employee Benefits Specialist (CEBS) external link icon, Chartered Financial Consultant (ChFC) external link icon, the Personal Lines Coverage Specialist (PLCS) external link icon, the Registered Employee Benefits Consultant (REBC) external link icon and the Registered Health Underwriter (RHU) external link icon are other designations that typically demonstrate knowledge in more focused areas. For a more complete list of insurance designations, including a brief description information regarding the sponsoring organizations and how to obtain more information, review the yearly summary provided in Best’s Review external link icon. Copies are available in the department office.

 



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