Associate of Risk Management (ARM)

Associate of Risk Management (ARM)

Introduction

																		
Associate of Risk Management (ARM)
The ARM professional designation program helps in enhancing risk management skills by enabling to build and implement a balanced risk financing strategy using retention, transfer and hybrids.

Benefits of ARM Program
• Increase value to the organization by learning to design a risk management program for hazard, operational, financial and strategic risks.
• Improve effectiveness by acquiring skills needed to assess and treat organizational risks.
• Support overall financial goals by learning to design and implement retention, transfer and hybrid risk financing plans.

ARM Courses
Ethics 311: Ethical Guidelines for Insurance Professionals
ARM 54: Risk Management Principles and Practices
ARM 55: Risk Assessment and Treatment
ARM 56: Risk Financing
																	

Program Objectives


																		
Ethics 311: Ethical Guidelines for Insurance Professionals:
After completing this learning module, you’ll be able to recognize ethical dilemmas when they arise and you’ll also have the skills needed to reach informed decisions when faced with a dilemma.

Learning Outcomes:
• Analyze three common real-world ethical dilemmas, in case study form, using an ethical framework.
• Distinguish among morals, laws, and ethics
• Support the position that insurance practitioners should possess and exhibit the characteristics of professionalism
• Summarize why it is important that insurance professionals maintain high ethical standards.
• Give examples of an insurance professional’s ethical responsibility to these groups:
    ▪ Insurers;
    ▪ Policyholders; and
    ▪ The public. • Given an ethical dilemma, identify:
    ▪ The stakeholders;
    ▪ The motivation for the actions taken; and
    ▪ The relevant ethical issues.
• Apply these theories to an ethical dilemma using the decision-making tools:
    ▪ Rules-based;
    ▪ Situation-based; and ▪ People-based.
• Summarize the barriers to making ethical decisions.
• Given an ethical dilemma, apply Ethical Guidelines for Insurance Professionals to arrive at a resolution.
• Apply ethical theories and decision-making tools, including the Ethical Guidelines for Insurance Professionals, to resolve these kinds of ethical dilemmas: 
    ▪ Conflict of Interest; ▪ Privacy; and ▪ General business.


ARM 55: Risk Assessment and Treatment
Purpose
To enhance contribution to the organization’s value by learning to assess and treat its risks.

Learning Outcomes:
Introduction to Risk Assessment and Treatment.
• Root Cause Analysis.
• Business Continuity Management.
• Physical Property Risk.
• Intellectual Property and Reputation Risk.
• Legal and Regulatory Risk.
• Management Liability and Human Resource Risk.
• Environmental Risk.
• Crime and Cyber Risk.
• Fleet Risk.
• Small Products and Risk Management.


ARM 56: Risk Financing
Purpose
To increase effectiveness by learning to design a risk management program for hazard, operational, financial and strategic risks.

Learning Outcomes:
• Introduction to Risk Financing.
• Estimating Hazard Risk.
• Transferring Hazard Risk Through Insurance.
• Self-Insurance Plans.
• Retrospective Rating Plans.
• Reinsurance.
• Captive Insurance.
• Contractual Risk Transfer.
• Transferring Financial Risk.
• Transferring Hazard Risk to the Capital Markets.
• Allocating Costs of Managing Hazard Risk.





																	

Program Contents

																		
																	

Assessment and Certification

																		
																	

Target Audience

																		
																	

Course Dates