Term Of The Day – Associate In Premium Auditing
APA or Associate in Premium Auditing is a professional designation awarded by the Insurance Institute of America (IIA). The goal is to Increase the premium auditor’s knowledge of auditing procedures.
From the IIA Brochure –
You will increase your overall insurance knowledge and become familiar with proper auditing procedures for a variety of situations. The program enables you to perform premium audits in an organized and professional manner. Specifically, you will increase your knowledge of insurance contracts, auditing procedures appropriate to a variety of complex situations, principles of insurance accounting, and the relationship of premium auditing to other insurance operations.
Required Courses – APA 91, APA 92, and CPCU 520 plus either CPCU 540 or 552 are required to earn this designation.
APA 91-Principles of Premium Auditing: Insurance Operations, Underwriting,Premium Audit Report, Law, Planning & Designing Premium Audits, Evaluating Accounting Systems, Insured’s Operations/Employees, Automation.
APA 92-Premium Auditing Applications: Insurance Rates and Rate Regulation; Workers’ Compensation Insurance and Premium Determination; Workers’ Compensation – Construction Operations; Maritime Workers’ Compensation Insurance and Premium Determination; Commercial General Liability Insurance, Classification, and Audit Procedures; Business Auto Insurance and Premium Determination; Motor Carrier Insurance and Premium Determination; Garage Insurance and Premium Determination; Commercial Property/Inland Marine Insurance and Premium Determination; and Other Premium Auditor Roles.
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