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ChFC Designation Questions I Have Received Over The Years Answered


Why Did I Choose To Attain The Chartered Financial Consultant ChFC Designation?

The ChFC designation is not one that you will find as part of the Institutes'(c) list of designations it provides for the insurance industry.   In the old days of trading business cards, I was asked more often than now.

I have recommended other designations that I earned through the Institutes such as the AIC (Associate in Claims) and the ARM (Associate in Risk Management) designations.   The AIC is critical to worker’s comp adjusters who are looking to advance themselves quickly in a claims department.

The most popular article that was read from the 1,900 articles during the pandemic was an article on the AIC designation.  I received three phone calls the first week that I published the article.  Two were from Workers’ Comp adjusters and one call was from a CAT adjuster.

Diploma pic ChFC designation
Library of Congress – Public Domain

ChFC Designation vs. CPCU

One underlying question is why did I go for a financial designation instead of an insurance designation?  I consider that a fair question.

I had already attained a Bachelor of Science in Actuarial Science.  I wanted to branch out into other areas.  I consider as does one of my favorite insurance people, Mark Walls of Safety National, that insurance premiums specifically worker’s compensation insurance premiums as an investment.

ChFC and the Zero-Sum Investment

I coined the term zero-sum investment from the zero-sum game theory with a few adjustments.  Many pundits have said the stock market is a zero-sum investment.  In short, (investment + gains) – losses = 0.

I would go more into the formulas – maybe at a later date.  Self-insurance budgets depend heavily on this formula.

The ChFC designation had 10 courses that a candidate must pass.  The American College has reduced the number to eight since I was in the program.

Studying the beta of a risk portfolio of investments can be directly applied to risk management.  Each insurance program that you invest in can be thought of as a stock.

Google Keir for Success to see a great package to assist with the ChFC designation.   Keir used to provide materials for many insurance designations.   I used their study books in my two insurance designations.

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James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management 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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