The Insurance Institute of America has developed a new designation for people who need to understand the regulatory environment and the effect regulation has on the business of insurance.
The Associate in Regulation and Compliance (ARC) designation program consists of three courses and national examinations: IR 201, Insurance Regulation; CPCU 5, Insurance Operations, a course from the American Institute for CPCU’s Chartered Property Casualty Underwriter program; and AIAF 111, Statutory Accounting for Property and Liability Insurers, a course from IIA’s Asociate in Accounting and Finance (AIAF) program. People who pass only the IR 201 exam earn a certificate of completion.Those who pass all three exams earn the ARC designation.
“The new designation is designed not only for insurance regulators, but also for people who must comply with insurance regulations,” said James F. Fryer, who directs the ARC program. “The ARC program enables people in the areas of regulation and compliance to expand their knowledge and earn a professional credential in this specialized area.”
The ARC program also provides a basic curriculum useful to three regulatory-related organizations, the Insurance Regulatory Examiners Society, the Association of Insurance Compliance Professionals and the Society of Financial Examiners. For more information, contact an IIA customer service representative at 800/644-2101 or visit firstname.lastname@example.org.
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