Associate In Risk Management (arm)
Definition of "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
Regulations affecting the right of insurance companies to use sex as one of the factors in the actuarial determination of premium rates. The precedent case for such legislation is Arizona ...
Health insurance contract that is renewable at the option of the insurer. On the anniversary date of the contract, the insurer has the right to decide whether or not to renew. ...
Fee paid to an insurance salesperson as a percentage of the premium generated by a sold insurance policy. ...
Measurement of how people feel about prevailing economic conditions, employment outlook, and personal finances. This index is based on statistics gathered from questionnaires mailed by the ...
Fidelity bond provided under a blanket position bond (in which each position is covered on an individual basis) or a commercial blanket bond (in which a loss is covered on a blanket basis ...
One that combines the two forms of ownership, stock and mutual. A stock insurance company is owned by stockholders, whereas a mutual insurance company is owned by its policyholders. A mixed ...
Condition that results from injury or disease that is not job related. Workers compensation applies to employees disabled by on-the-job injuries or disease. In addition, five states require ...
Trust that qualifies assets under the marital deduction provision in the Federal Tax Code for favorable treatment of an estate. The surviving spouse has the full power to use the assets of ...
Nonparticipating life insurance (also called a guaranteed dividend or guaranteed investment policy) sold by a stock life insurance company, usually as a 20-payment policy with coupons ...
Have a question or comment?
We're here to help.