Insurance Underwriter Certification

Benefits

• Most employers do not require an underwriter to have a CPCU, but according to the AICPCU, those that do tend to have better employment opportunities and higher salaries. Many underwriters who have their CPCU feel that it improved their opportunities for advancement and raises, as well.
  
  

Requirements

• Candidates for the CPCU are required to fulfill an educational requirement, which includes taking several courses and the accompanying exams, agreeing to abide by the AICPCU Code of Ethics and meeting an experience requirement. The candidate begins by notifying the AICPCU of his intention to try for the CPCU designation by submitting a matriculation application, along with the registration fee ($75 as of 2010). While he can also sign up for a course and the accompanying exam at the same time, or even before sending in the application, AICPCU recommends applying first and getting confirmation of status before paying course and exam fees. Once the candidate has passed more than half the exams needed for the educational requirement, he will receive documents that indicate he has met the experiential and ethics requirements. Once all the exams have been passed, the new CPCU can attend a conferment ceremony.
  
  

Coursework

• The candidate must take eight of the courses offered by the AICPCU: four foundation courses, an elective course (10 are offered) and three courses in either the commercial lines concentration or personal lines concentration. Courses are chosen according to the student's professional interest and direction. Course fees begin at $50 for the course guide and practice exam. Study guides and other informational packages are available at varying prices.
  
  

Exams

• Once the course materials have been reviewed and the candidate feels ready to take the exam, she registers with the AICPCU and schedules a testing appointment. The exams are computer-based and offered only at facilities designated by the AICPCU--either at an employer-based location or at a Prometric Testing Center location. Pen and paper versions of the examinations are not offered in the United States. Fees vary based on location. They start at $220 and go up to $300.
  
  

Experience

• The CPCU program is open only to individuals who have worked for two years out of the previous five in an accepted position at an insurance company. These accepted positions include, but are not limited to, insurance sales, claims adjustment, reinsurance and support positions such as clerical, legal or information technology when offered in support of an insurance firm. The candidate submits a statement of experience halfway through the coursework to prove this requirement.
  
  

Code of Ethics

• The AICPCU Code of Ethics outlines proper behavior for a CPCU in a series of nine "Canons" that are each further defined by several subrules. The code requires that the CPCU be honest, do all that he can to uphold the professional standards of the insurance industry and promote the profession and honor the limits of CPCU usage. Once the candidate sends in the matriculation application, he is to uphold the Code of Ethics and sign a form to that effect.