Associate In Risk Management
What Does Associate In Risk Management Mean?
The Associate of Risk Management (ARM) is a professional title awarded to individuals who have completed the course requirements set by the Insurance Institute of America. This title qualifies individuals to provide professional advice to companies and individuals on assessing risks related to business ventures and properties.
Insuranceopedia Explains Associate In Risk Management
Risk management is considered a science, which is why specialized courses are designed around it. Earning the title of Associate of Risk Management (ARM) means an individual is a professional in the field, whose expertise is sought after by both individuals and companies.
Risk management involves making decisions about what to insure and what not to insure, a process that can be complex. Determining the cost of a loss is particularly challenging when uncertainty is involved, which is often the case in a business climate where an unexpected event can cause a seemingly stable company to falter.
This is where the expertise of risk management professionals with the ARM designation comes into play. They have the training and credentials to advise individuals or companies on whether to self-insure or obtain coverage from an insurance company.
