Associate in Risk Management (ARM) & Associate in Risk Management for Public Entities (ARM-P) Programs
Are you prepared? Each day, your organization faces risks related to corporate governance, cyber-liability, terrorism, workers’ compensation, and more. And ever-increasing regulations and litigation only compound these risks.
Deloitte Touche Tohmatsu, in its 2005 Global Insurance Industry Outlook, observes that insurance companies that can practice proactive, integrated risk management are better able to “not only satisfy regulatory requirements but also generate substantial business benefits through improved management of capital and increased shareholder value.” The ARM program is designed to help companies develop the needed personnel to meet these goals.
The Insurance Institute of America’s newly revised Associate in Risk Management (ARM) designation program will teach your employees the practical, relevant skills they need to help manage risk at all levels of your company.
ARM delivers the skills you need.
The new ARM program teaches the in-depth knowledge needed to assess and respond to the numerous hazard risks your company faces. ARM helps employees to:
• Build a strong foundation in the science of risk management
• Gain practical skills to avoid, reduce, and manage risk
• Learn to adapt those skills to meet changing needs
ARM 54—Risk Assessment
Establishing Risk Management Programs; The Risk Management Process; Legal Foundations of Liability Loss Exposures; Assessing Property, Liability, Personnel, and Net Income Loss Exposures; Management Liability and Corporate Governance; Forecasting Losses; and Cash Flow Analysis.
ARM 55—Risk Control
Controlling Property, Personnel, Liability, and Net Income Loss Exposures; Intellectual Property Loss Exposures; Criminal Loss Exposures; Disaster Recovery for Property Loss Exposures; Understanding Claim Administration; Fleet Operations Loss Exposures; Environmental Loss Exposures; Understanding System Safety; Motivating and Monitoring Risk Control Activities.
ARM 56—Risk Financing
Understanding Risk Financing; Insurance as a Risk Financing Technique; Insurance Plan Design; Reinsurance and Self-Insurance; Retrospective Rating Plans; Captive Insurance Plans; Finite and Integrated Risk Insurance Plans; Capital Market Risk Financing Plans; Forecasting Accidental Losses; Self-Insurance Plans; and Purchasing Insurance and Other Risk Financing Services and Risk Financing Needs;
ARM also meets one of the requirements for the RIMS Fellow designation. For information, visit www.rims.org.
The following course is required in addition to ARM 54, 55, and 56 to earn the ARM-P designation:
RMPE 352—Risk Management for Public Entities
Public Sector Risk Management Administration; Risk Control; Exposure Identification & Analysis; Pooling for Risk Financing; Managing Distinctive Liability Exposures; Claims & Litigation; Risk Financing; Establishing Risk Management Programs; Disaster Planning & Emergency Response
Course Sequence: It is best to take ARM 54 first.
Exam Type
ARM 54/55/56: Eighty-five computer-administered, objective (multiple-choice) questions. Time allotted: 2 hours.
The Risk Management for Public Entities exam is an Exam-on-Request (EOR) and can be taken in two ways. Take the multiple-choice exam (1) by computer at an Institutes Approved On-Site Testing Center or Prometric Testing Center during our testing windows or (2) on paper in your workplace at any time. Read more about EOR exams.
This Program Right for You?
If you are new to the industry or are uncertain whether this program is right for you, try our online advising or fill out our a self-inventory form and mail it to the Institutes.
Get Started Now!
Get started now by ordering study materials. You can register for your exam when you order study materials, or you can register closer to your exam date. If you have questions, contact Customer Service at customerservice@cpcuiia.org.