The Institutes

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