Top 9 Certifications for Risk Management Professionals

So, you’re officially working in the industry. Now what? We collaborated with our friends at CEU Institute to learn more about continuing education and how to become well versed in your profession.

Some roles require a professional license – such as adjuster, agent, attorney, or accountant. From there, it’s up to each professional to continue and advance their niche with specialty certifications, which are most common to those in insurance, legal, and risk professionals.

According to CEU Institute founder Michael Benner,

“These certifications identify the holder as having additional expertise, roles, or functions within the specialty and generally obtained once the holder has gained some experience or has identified a specialty they seek to pursue.”

Some of the most notable certifications within the Risk Management space are:

• RIMS-CRMP – RIMS Certified Risk Management Professional = This is a certification offered by The Risk and Insurance Management Society (RIMS).  The RIMS-CRMP is the only accredited Risk Management Certification.  www.irmi.com

• TRIP = Transportation Risk and Insurance Professional (TRIP) is offered through the International Risk Management Institute (IRMI).  The program provides an opportunity for insurance agents, brokers, customer service representatives, underwriters, adjusters, and in-house risk managers or insurance buyers to gain specialized expertise in transportation insurance and risk management.  www.irmi.com

• ERIS = Energy Risk and Insurance Specialist (ERIS) is offered through the International Risk Management Institute (IRMI).  The program was developed to provide an opportunity for insurance agents, brokers, customer service representatives, underwriters, adjusters, and in-house risk managers or insurance buyers to gain specialized expertise in energy insurance and risk management. www.irmi.com

• CRIS = Construction Risk and Insurance Specialist (CRIS) is offered through the International Risk Management Institute (IRMI).  The Construction Risk and Insurance Specialist program is a specialized curriculum focusing on the insurance and risk management needs of construction projects and contractors. Those who complete the program are entitled to display the CRIS certification to certify their knowledge of construction insurance and risk management and dedication to the industry. www.irmi.com

• AFIS = IRMI Agribusiness and Farm Insurance Specialist (AFIS) is offered through the International Risk Management Institute (IRMI). The Agribusiness and Farm Insurance Specialist (AFIS) program is a specialized curriculum focusing on the insurance and risk management needs of agribusinesses and farms. Those who complete the program are entitled to display the AFIS certification to certify their knowledge of agribusiness and farm insurance and risk management and their dedication to the industry.

• ARM = Associate in Risk Management is offered through The Institutes.

• ARM-P = Associate in Risk Management for Public Entities is offered through The Institutes.

• ARM-E = Associate in Risk Management Enterprise is offered through The Institutes.

• CRM = Certified Risk Managers Certification is offered through the National Alliance for Insurance Education and Research.  An individual with CRM certification is equipped to handle risks and exposures. It makes the person aware of operational risks (identifying, controlling and administering), catastrophic exposures, political risks, fiduciary exposures, legal risks and others.
• CERP =  The Certified Enterprise Risk Professional certification has been designed exclusively for risk management professionals within the banking industry.

Is CE also required for the Specialty Certificated listed above? Benner also mentions:

“It’s important not to confuse the CE requirement of a license (i.e. Adjuster, Agent, Attorney, etc.) to any CE requirements of a specialty certification.   Someone can be an Accountant by license (with its own CE requirements), but they may be a certified as a Risk Manager for their position or function.    Many specialty certifications do not require annual or bi-annual continuing education to maintain  however virtually ALL professional licenses mentioned above require some form of ongoing continuing education with few exceptions.”

For all of your continuing education needs, check out the CEU Institute. They’re an incredible organization helping insurance organization and vendor/service providers deliver, manage, and administer their continuing education programs.