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I am toying with the idea of attempting to earn the CPCU (Certified Property - Casualty Underwriter) designation. Achieving the designation requires completion of eight courses covering topics such as risk management, insurance operations, business law, finance and accounting, property insurance, and liability insurance.

My employer will pay for the courses and testing. There is an incentive bonus for each test completed and a bonus for achieving the designation. So this will be of no cost to me, and I actually stand to earn some money (around $5k pre tax) for doing it. Plus, this can be seen as something to help further my career, show my dedication, and if I leave my employer within 3 years of taking the course, I will be required to pay back the money they spent on me earning the designation so it could also show some longer term commitment.

I am just curious if anyone else has earned this designation or knows anything more about the process. How much study time will I need to put in outside of work? How difficult are the tests? Is it worthwhile?

Hopefully someone has something anecdotal to add to this. I am just beginning to look into it so I am hoping to learn more soon.

Bump

I have pulled the trigger and will be signing up to take the CPCU study courses and exams. Anyone with any advice or insight please let me know.

All my experience with CPCU designations was in my past career in insurance. I got the impression is was on the level with legitimate college courses as far as difficulty level. Where I worked, it was a nice designation but did not necessarily guarantee any advancement. I saw one supervisor who had the designation end up getting stuck at a particular level of supervision (or decided it was not worth the hassle to try for advancement). Some managers who had the designation went on to higher positions, but they were those who met the metrics and requirements of management for advancement. I never saw the CPCU as something that would equal automatic promotion or something.

I think it might help if you were moving to a different company. Plus, you get to take the trip to Hawaii once you complete the designation.

Good luck man! I always encourage continued learning.

Ronan wrote:Good luck man! I always encourage continued learning.

Thank you sir!

yogotti wrote:All my experience with CPCU designations was in my past career in insurance. I got the impression is was on the level with legitimate college courses as far as difficulty level. Where I worked, it was a nice designation but did not necessarily guarantee any advancement. I saw one supervisor who had the designation end up getting stuck at a particular level of supervision (or decided it was not worth the hassle to try for advancement). Some managers who had the designation went on to higher positions, but they were those who met the metrics and requirements of management for advancement. I never saw the CPCU as something that would equal automatic promotion or something.

I think it might help if you were moving to a different company. Plus, you get to take the trip to Hawaii once you complete the designation.

Thanks for the input. Did you earn the designation?

I don't think it will equate to automatic promotion, but something that the company values and not many people are currently willing to buckle down and go get. I am hoping that this helps out in the long term (I plan on staying with this company for the long run). It will also be more valuable as my role in commercial property and liability insurance is expanding in my current position.

I did not earn the designation. I did a claims law certification which was sort of a prerequisite or predecessor course.

It sounds like your thinking is proper. From what I understand, the courses give a pretty comprehensive view on the insurance industry, from finance/accounting to regulatory to claims stuff.

Just posting a follow up to this thread. I passed my first CPCU exam, CPCU 500.

I thought the test was fairly easy, but not so easy you could pass with little or no preparation.

To earn the CPCU designation, you must pass 8 exams. However, you can waive our of the business law exam if you have a law degree. So I will be waiving out of that exam. One exam down, waive out of one, and six more to go!

CPCU 500 is titled “Foundations of Risk Management and Insurance.”

Next I will be taking CPCU 520 - “Insurance Operations”

Followed by CPCU 540 - “Accounting and Finance of Insurance”

CPCU 553 - “Survey of Personal Insurance”

ARe 144 - Foundations of Reinsurance

CPCU- 551- Commerical Property Risk Management and Insurance

CPCU- 552 - Commerical Liability Risk Management and Insurance

Congrats KF!

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