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How Many Courses For Associate in Risk Management (ARM?)

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Associate in Risk Management Designation Courses = 3 

The Three Associate in Risk Management courses is listed below.

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This is a professional designation that I possess. It is awarded by the Insurance Institute of America (IIA). There are three somewhat difficult tests that need to be passed to complete the designation. I was able to complete mine in 18 months. According to the AICPCU – the three courses contain the following educational goals:

ARM 54: Risk Assessment

  • Increase effectiveness of contributions by acquiring skills needed to develop effective and thorough risk assessments
  • Strengthen efficiency in the risk management function through improved communication with operational staff
  • Improve forecasting ability through greater understanding of risk quantification and actuarial activity
  • Make better financial decisions by learning how to apply cash flow analysis to risk financing planning

ARM 55: Risk Control

  • Improve risk control by learning to identify and contain root causes of loss
  • Demonstrate effectiveness of risk planning through development of score cards to measure success
  • Help prepare the organization to more effectively recover from catastrophe by learning to design and implement disaster recovery plans
  • Increase participation in risk control programs through better understanding of staff motivation

ARM 56: Risk Financing

  • Help avoid potentially costly coverage gaps by learning to design insurance plans
  • Support the organization’s overall financial goals by learning to build and implement a balanced risk financing strategy using retention, transfer, and hybrids
  • Enhance the organization’s risk transfer flexibility by learning to establish and manage a captive and alternative risk transfer (ART )

If you are considering becoming a Risk Manager or are now one, the ARM designation is almost becoming a standing requirement.

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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

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