Work Comp Adjuster Question on Associate in Risk Management
Is the Associate in Risk Management designation worth the effort? I have my Associate in Claims (AIC) designation. Is the ARM the next step in career advancement?
The above question came in from a California adjuster after the two articles written on the AIC designation last week.
According to the Institutes, the ARM is designed to advance the education of:
- Agents
- Brokers
- Agency principals
- Line of business managers and executives
- Risk managers
- Underwriters
- Municipal managers and executives
- Public entity risk managers
- School board executives
- Chief risk officers
- Executives concerned with risk
- Risk management consultants
- Commercial lines underwriting professionals
- Client executives in brokerage firms
The above list is not exhaustive by any means. However, one can see the ARM is going to cover any job type that interfaces with risk. There are two more levels of specialization that did not exist when I received my ARM.
ARM-P is for public entities.
The ARM-ERM is for enterprise risk management.
ARM 54: Risk Management Principles and Practices
ARM 55: Risk Assessment and Treatment
ARM 56: Risk Financing
RMPE 352: Risk Management for Public Entities
ERM 57: Enterprise Risk Management
As with The AIC designation, the first course seemed the most difficult as it covered so much ground. These are not courses like the AIC where one can go through the courses more quickly. You can check out educational aids that could cut your study time in half. I used them exclusively to get through the ARM. They were invaluable.
Bottom Line – If you wish to pursue a career in Risk, then I would recommend trying the first course ARM 54 to see what concepts will be covered in the next two courses. The ARM would be recommended if you are considering an area that is associated with claims which involves risk such as a general Risk Manager.
Attaining the ARM designation would keep one very flexible and ahead of the pack when looking to advance in the claims profession.
Workers Comp is covered on a limited basis in the Associate in Risk Management courses.
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