Chartered Property and Casualty Underwriter (CPCU)

Aside from a strong financial foundation to start a successful financial institution, a professional agent should also be present to handle the flow of the business. A group of learned individuals are the best group of people to have with in a company who wants to be of big kick in the industry.

In the insurance company, to become an efficient and effective professional broker is to be one of the Chartered Property and Casualty Underwriter (CPCU).

What is Chartered Property Casualty Underwriter? This is a professional designation after a successful completion of varied rigorous national examinations given by the American Institute of Property and Casualty Underwriters. This requires three years of work experience in the insurance business or any other business related area. This covers expertise in the areas of risk management, law, finance, accounting, management, economics and insurance.

Since 1942 approximate counts of 65,000 people have already earned this designation. These people are viewed to be knowledgeable, capable and skilled in providing their numerous clienteles with the best package for their property and casualty insurance. In this case, the individuals who are seeking for an insurance won’t be worried anymore since they are in good hands having these CPCU’s.

How to gain the CPCU designation?
The curriculum of CPCU contains eight post-secondary undergraduate-or graduate-level courses which include topics such as ratemaking, history, law, insurance, contracts and risk management as well as business courses such as ethics and finance.

In order to gain the designation, the person must pass exam in five courses and three course in either commercial insurance or personal insurance concentration. These type of hard exams are standardized which consists of three-hour essay or objective type exams. There are two types of essay exams. The First part contains questions that determine understanding on the terminology, content and concept while the second part tests the analysis of the examinees applying the information to a case to case scenario.

These are the five core courses:
CPCU 500 Foundations of Risk Management, Insurance, and Professionalism
CPCU 520 Insurance Operations, Regulation, and Statutory Accounting
CPCU 530 The Legal Environment of Insurance
CPCU 540 Finance for Risk Management and Insurance Professionals
CPCU 560 Financial Services Institutions

Commercial Concentration (with personal survey)
CPCU 551 Commercial Property Risk Management and Insurance
CPCU 552 Commercial Liability Risk Management and Insurance
CPCU 553 Survey of Personal Risk Management, Insurance, and Financial Planning

Personal Concentration (with commercial survey)
CPCU 555 Personal Risk Management and Property-Liability Insurance
CPCU 556 Personal Financial Planning
CPCU 557 Survey of Commercial Risk Management and Insurance

Since availing any insurance is one of the most crucial decisions to take, it is wise enough that the individual would ask help from the professional perspective of a CPCU for assurance. In this way, individuals will be protected from any potential liabilities. The insurance agent also would be able to explain accordingly to the client the reasons why one type of insurance is better than the other type of insurance. These agents are of no doubt the best group of people to ask not only in one type of insurance but almost all types of insurance.

Over a period of time, CPCU’s should prove to himself that he is a reliable and an experienced agent to prove that he is one of this society. He should also follow with the code of ethics mandated on this organization to assure that he will be performing his duties with full honesty to guarantee satisfaction towards his customer. With all the criteria imposed by this society, it is safe to say that the agents who qualified to be a member of this society is trustworthy enough for individuals who are still confused on what type of insurance to avail.