ISCM, CAS Institute Launch New Education and Credentialing Program for Catastrophe Risk Professionals
The International Society of Catastrophe Managers (ISCM), a professional association promoting catastrophe management professionalism within the insurance industry, and The CAS Institute (iCAS), a subsidiary of the Casualty Actuarial Society (CAS) offering specialty credentials to professionals, announced the launch of a new education and credentialing program for catastrophe risk professionals.
Having previously announced a partnership to develop educational tools and resources for catastrophe risk management professionals, the organizations today have introduced two new credentials that build upon knowledge and practice in this field and provide a benchmark for knowledge and skills in catastrophe risk:
- Certified Specialist in Catastrophe Risk (CSCR) – a base credential that demonstrates a thorough understanding of essential catastrophe risk principles; and
- Certified Catastrophe Risk Management Professional (CCRMP) – an advanced credential that recognizes the essential knowledge and mastery in the application of the principles and analytics in catastrophe risk management.
The curriculum for the two credentials will be overseen by a Curriculum Advisory Committee (CAC), comprised of leaders from ISCM and iCAS; specific learning objectives and exams or assessments for each credential will be developed by an expert panel of thought leaders in catastrophe risk. ISCM and iCAS will also provide a community of practice and opportunities for continuing education and collaboration to support catastrophe risk management professionals.
Registration is now open for the first course and exam. Additional information about the credential requirements can be found at CatRiskCredentials.org.
QBE North America Sells Farmers Union Insurance to National General Insurance
QBE North America, an integrated specialist insurer, and National General Holdings Corp. announced that they have entered into an agreement through which National General will acquire QBE’s Farmers Union Insurance business. The agreement will be effective in the first half of 2019, subject to customary closing conditions and regulatory approval.
Farmers Union Insurance consists of the personal insurance and farm owner business, as well as the Telecommunications Insurance Program (TIP). The agreement enables QBE North America to focus on the businesses where it excels and can offer distinctive value to the market, including its specialty, core commercial, programs, crop, Westwood and reinsurance businesses. It also provides National General an opportunity to further its position in the personal insurance market and expand its distribution network.
Deutsche Bank Securities Inc. acted as exclusive financial advisor and Locke Lord LLP acted as legal counsel to QBE.
ISO Launches Management Liability Insurance Program for Private Companies
ISO has launched a new management liability insurance program to help insurers address the increasing risks faced by private companies, including sexual harassment. ISO is a Verisk business and a leading provider of forms, rules, and rating information for the property/casualty insurance industry.
The program is designed to address the growth of private firms, which now account for more than 65 percent of all companies in the United States, according to the latest data from the U.S. Census Bureau. At the same time, the risks faced by company directors and officers continue to grow. Public scandals during the past year have encouraged many victims to report sexual harassment and other workplace infractions.
The program’s proprietary rating model enables insurers to price worldwide coverage for private companies across several lines of business, including directors and officers, employment practices liability, and fiduciary liability. It also features a higher level of rating granularity, factoring in a wide range of classes and risk sizes for employment practices liability developed using the latest modeling techniques. There are also options to include coverages for crime as well as kidnap and ransom.
To learn more about ISO’s new management protection liability program, visit verisk.com/privco.
Was this article valuable?
Here are more articles you may enjoy.