Associate In Risk Management (arm)
Professional designation earned after the successful completion of three national examinations given by the insurance institute of America (IIA). Covers such areas of expertise as essentials of risk management (identification and measurement of loss exposures, and analyzing various techniques to deal with the exposure); essentials of risk control; and essentials of risk financing (risk retention and commercial insurance). Program of study is recommended for individuals involved in the areas of risk management for non insurance companies, as well as insurance producers who want to provide risk management counseling to their clients.
Popular Insurance Terms
Insurance coverage sold by a broker as contrasted with insurance coverage sold by an agent. ...
Model state law of the NAIC setting minimum standards with which insurance products must comply if they are to qualify under the definition of a long-term care (LTC) insurance policy. These ...
Coverage by at least two insurance policies providing the same coverage for the same risk. ...
Automatic protection for an insurer against losses that exceed a predetermined loss limit. This reinsurance may be subdivided into three primary types: excess of loss, catastrophe loss, and ...
Membership organization primarily of medium and small life and health insurance companies. It represents the views and interests of smaller companies in various political forums. ...
State laws based on a model law of the National Association of Insurance Commissioners (NAIC) that allow insurers to set rates independently; or adopt those rates developed by a rating ...
Those states requiring insurers to obtain prior approval rating of rates and policy forms before they use them. Although most states once fell into this category, many followed the lead of ...
Same as term Extended Coverage Endorsement: added to an insurance policy or a clause found in an insurance policy that will provide additional coverage for risks to be insured other than ...
High severity loss that does not lend itself to accurate prediction and thus should be transferred by the individual or business to an insurance company. ...
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