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Chartered Property and Casualty Underwriter (CPCU)

The Chartered Property and Casualty Underwriter (CPCU) designation is the most respected professional credential in Property and Liability insurance.  The CPCU program involves an extensive study of Property and Liability insurance coverages, insurance company operations, and risk management principles, as well as the functional areas of accounting, finance, and law.

All CPCU candidates must complete the following five national examinations:

• CPCU 510 -- Foundations of Risk Management, Insurance, and Professionalism.  An introductory course which covers insurance's origins, its role as a risk management tool, and its function as a regulated social device.  The course also presents the skills needed to interpret Property and Liability insurance contracts.  Also included is a thorough presentation of the Code of Professional Ethics to which those who attain the CPCU designation subscribe.

• CPCU 520 -- Insurance Operations, Regulation, and Statutory Accounting.  An overview of how the various insurance functions interact with each other and with outside entities to provide insurance and related services.  

• CPCU 530 -- The Legal Environment of Insurance.  A survey of general business law, with an emphasis on the application of law to insurance activities and functions.

• CPCU 540 -- Finance for Risk Management and Insurance Professionals.  A broad introduction to the basic finance principles that apply to any organization are covered in this course.

• CPCU 560 -- Financial Services Institutions.  This new course surveys the various types of markets (money, stock, bond, derivative), institutions (commercial banks, thrift institutions and finance companies, insurers, securities firms and investment banks, mutual funds and pension funds), and regulators that constitute the financial services industry.  The course also addresses the specific types of risk financial institutions face.  (NOTE:  As of June 28, 2010, CPCU candidates can substitute one of more than a half dozen electives for CPCU 560.  The elective options are generally part of another professional designation.  For full details, visit the Institutes' website at www.aicpcu.org.) 

In addition to these courses which all CPCU candidates complete, each candidate must decide whether to specialize in Personal Lines or Commercial Lines.  In each specialty, candidates take two examinations focused on their specialty, plus one more general examination on the other segment of the Property and Liability insurance industry.

Commercial Lines Concentration (with Personal Lines Survey)

• CPCU 551 -- Commercial Property Risk Management and Insurance.  A survey of Commercial Property loss exposures and the insurance coverages and noninsurance techniques used to manage them. 

• CPCU 552 -- Commercial Liability Risk Management and Insurance.  A survey of Commercial Liability loss exposures and the insurance coverages and noninsurance techniques used to manage them.

• CPCU 553 -- Survey of Personal Risk Management, Insurance, and Financial Planning.  An overview of the loss exposures faced by individuals and families, and of the coverages -- Property, Liability, Life, Health, and Disability -- and approaches -- investment planning, retirement planning, and estate planning -- that help them prepare for future challenges.

Personal Lines Concentration (with Commercial Lines Survey)

• CPCU 555 -- Personal Risk Management and Property-Liability Insurance.  In addition to a survey of insurance and noninsurance techniques for managing the Property and Liability loss exposures of individuals and families, this course examines personal insurance operations:  product development, underwriting and reunderwriting, pricing and operational efficiencies.

• CPCU 556 -- Personal Financial Planning.  A survey of insurance and noninsurance techniques used to manage the Life and Health loss exposures of individuals and families, and of investment, tax, retirement, and estate planning approaches to planning for the contingencies households confront.

• CPCU 557 -- Survey of Commercial Risk Management and Insurance.  An overview of Commercial Property and Liability loss exposures and the insurance and noninsurance techniques used to manage them.

Who should enroll.  Individuals who desire a formal study of the insurance industry, its functions, its activities, and its coverages, including risk managers, producers, attorneys, accountants, financial planners, educators, and others whose jobs require an understanding of Property and Liability insurance contracts and functions.

National examinations. A separate exam fee is required and payable directly to the American Institute for CPCU.  During four 60-day exam “windows” each year, computer-administered CPCU essay exams are given.

Special Information.  A matriculation form contained in each Course Guide must be completed before the student's first CPCU exam and sent with a fee to the American Institute for CPCU.  There are also experience and ethics requirements (in addition to passing the required examinations) which must be met before the CPCU designation is granted.  For information, contact the American Institute for CPCU at 800-644-2101 or visit its website at www.aicpcu.org

Fall 2010 Tuition:  $725 (see Book Order Form for Course Guide/textbook costs).