RMI Licensing Information
Risk management and insurance is a diverse field. Earning a designation or obtaining a license demonstrates that you have acquired specific insurance expertise and is often encouraged or required by employers. In an effort to ensure that our risk management and insurance students remain competitive in the job market, the department provides financial assistance for the costs associated with earning a designation or obtaining a license. The exact level of financial assistance may vary unless specifically indicated. Contact Dr. Cassandra Cole, RMI undergraduate coordinator, at 644-9283 or firstname.lastname@example.org for details.
For insurance professionals working in the state of Florida, the licensing is managed by the Florida Department of Financial Services. There are several types of licenses for agents and agencies as well as for adjusters; some are general in nature, while others are for specific lines of coverage. The requirements for each of these licenses vary. For more information, see http://www.myfloridacfo.com/agents/.
INSURANCE LICENSURE IN FLORIDA
Completion of the risk management/insurance major program meets the educational requirements to sit for several licensing examinations of the state of Florida. Examples of licenses students may acquire through the RMI degree program are:
Life license (2-18)
Property/Liability Insurance Agent's license (2-20)
Customer Service Representative (CSR) license (4-40)
Adjuster's license (5-20)
For information on the licensing process in Florida:
Select Find an Agency
Select Financial Services
For proof of satisfaction of educational requirements:
An “Official” FSU transcript must be submitted as part of the application process.
For further information:
Florida Department of Financial Services
Bureau of Agent Licensing
200 East Gaines Street
Tallahassee, FL 32399-0319
(850) 413-3137 x1101
The National Alliance University Associate Designations
The National Alliance offers two designations for undergraduate students, the University Associate Certified Insurance Counselor (UACIC) and the University Associated Certified Risk Manager (UACRM).
For the UACRM, students must: 1) complete Commercial Risk Management (RMI 4347) with a grade of C or better; and 2) take the Principles of Risk Management exam through The National Alliance (this course can be completed while taking RMI 4347). The cost for each is $100. Students completing the designation are eligible for full reimbursement. Students passing RMI 4347 only are eligible to apply for CRM credit, but would not receive reimbursement. For more information, visit The National Alliance website at https://www.scic.com/courses/university_programs/participating_universities/florida_state_university or contact Dr. McCullough at email@example.com.
For the UACIC, students must: 1) complete Property and Liability Insurance Contracts (RMI 4224) with a grade of C or better; and 2) take a second CIC exam through The National Alliance (this course can be completed while taking RMI 4347). The cost for each is $100. Students completing the designation are eligible for full reimbursement. Students passing RMI 4224 only are eligible to apply for CIC credit, but would not receive reimbursement. For more information, visit The National Alliance website at https://www.scic.com/courses/university_programs/participating_universities/florida_state_university or contact Dr. Dumm at firstname.lastname@example.org
Collegiate Studies for CPCU Program
The Institutes offers the Collegiate Studies for CPCU Program. The program provides a certificate indicating completion of the requirements as well as waiver of two of the courses required for the CPCU designation. The requirements are: (1) be enrolled at an approved college or university; (2) earn a B or better in the approved courses; and (3) take The Institutes’ Ethics 312 course online.
For more information, visit the CPCU website at http://www.theinstitutes.org/e_campaigns/collegiatestudiescpcu.php or contact Dr. Cole at email@example.com.
Designations are sponsored by a number of organizations and are earned by completing a set of courses or exams. While there are over 40 designations, the most common include the Associate in Risk Management (ARM), the Certified Insurance Counselor (CIC), the Chartered Life Underwriter (CLU), the Chartered Property Casualty Underwriter (CPCU), and the Certified Risk Manager (CRM).
The ARM is administered by the Insurance Institute of America. The ARM requires completion of three courses and exams which cover risk assessment, risk control, and risk financing. Those focusing on risk management of public entities may want to consider obtaining the ARM-P which involves completing one additional course. Most recently, the Institute introduced an ARM-E which covers enterprise-risk management theories and practices. As with the ARM-P, this designation requires completing one additional course.
The CIC is offered by the National Alliance for Insurance Education and Research and requires the completion of five courses and exams covering the following topics: personal lines, commercial casualty, commercial property, life and health, and agency management.
The CLU is managed by the American College. This designation requires the completion of eight courses and exams, five core courses plus three electives. The core courses cover basic insurance planning, individual life insurance, life insurance law, estate planning, and planning for business owners and professionals. The elective courses include such topics as individual health insurance, group benefits, retirement needs, investments, and advanced financial planning and estate planning.
The CPCU designation is administered by The Institutes. Similar to the CLU, there are several core courses covering basic risk management and insurance concepts, insurer operations, business law for insurance professionals, and financial and accounting for insurance professionals. There is also an elective course requirement which cover such specialty topics as workers compensation, financial services, and reinsurance. An additional three courses in the either commercial lines or personal lines are also required for a total of eight courses and exams.
The CRM is offered by the National Alliance for Insurance Education and Research. Similar to the CIC, the designation involves completion of five courses and exams covering various aspects of risk management including: principles of risk management, analysis of risk, control of risk, financing of risk, and practice of risk.
Other Useful Designations
The Associate in Commercial Underwriting (AU), the Accredited Advisor in Insurance (AAI), the Associate in Claims (AIC ), Certified Employee Benefits Specialist (CEBS), Chartered Financial Consultant (ChFC), the Personal Lines Coverage Specialist (PLCS), the Registered Employee Benefits Consultant (REBC), and the Registered Health Underwriter (RHU) are other designations that typically demonstrate knowledge in more focused areas. For a more complete list of insurance designations including a brief description information regarding the sponsoring organizations, and how to obtain more information, review the yearly summary provided in Best’s Review. Copies are available in the department office.