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In 2009, a course for enterprise-wide risk management was developed to go along with the ARM certification. ARM certification is the first experience with formal risk training for many risk management professionals. Enterprise Risk Management (ERM) refers to integrated risk management that focuses on the risks of the entire organization. ARM 402-Successfully Treating Risk: This course builds off the other two courses to cover treating and assessing risk, including the role of insurance in risk treatment, protecting intellectual property, navigating legal and regulatory risk, protecting capital, and more.Īs risk management becomes more prevalent, the focus turns to entire organizations.
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It introduces the concept of enterprise risk management.
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#CERTIFIED RISK MANAGER CRM PROFESSIONAL#
The ARM designation is a professional certification for an individual who has completed the three required courses and passed an exam. What is an Associate in Risk Management (ARM) in Insurance?Īn Associate in Risk Management is an insurance professional who has developed a deeper knowledge of various risk elements obtained through ARM professional certifications and courses. To maintain the certification, you have to take an annual 2.5-day course online or in person. At the end of each course, you have the option to take the 2-hour exam associated with that course. Each is designed to give you a thorough understanding of the overall risk management process, as well as general insurance and insurance principles needed by risk professionals. The five CRM courses, each consisting of 2½ days of intensive classroom instruction, are Principles of Risk Management, Analysis of Risk, Control of Risk, Financing of Risk, and Practice of Risk Management. The certified risk management course is designed to advance a risk manager's career and for professionals in related fields including insurance, accountants, and legal experts. The ability to master all 5 CRM courses indicates that a risk manager has a complete understanding of risk management principles and the knowledge to handle complex situations. Within this particular insurance education, risk management courses provide in-depth knowledge of insurance language, providing an improved capability for understanding exactly what is and is not covered by a client's insurance policy. A risk manager is trained in risk assessment which includes preventing, reducing, avoiding, and eliminating risk. A certified risk manager designation is an important professional insurance designation for risk managers in the risk management industry. A risk manager is a professional with training in risk management.