Top 10 Insurance Broker Certifications

Certifications for an insurance broker are important for a number of reasons. First, certifications demonstrate a commitment to the profession and demonstrate expertise in the field. Insurance brokers who have obtained professional certifications are viewed as more knowledgeable and reliable than those without. Additionally, certifications can open up opportunities to work with larger clients and gain access to higher-paying positions. Finally, many employers require that their insurance brokers have specific certifications in order to be considered for certain positions. Certifications therefore provide assurance that an insurance broker has the necessary skills and knowledge to perform their job successfully.

This article reviews some of the top certifications for Insurance Brokers and explains how they can help an insurance broker to advance their career.

What are Insurance Broker Certifications?

Insurance broker certification is a professional designation given to brokers who demonstrate a high level of knowledge and expertise in the insurance industry. This certification is usually awarded after the broker has completed a rigorous course of study, passed an examination, and demonstrated their ability to meet certain standards of practice and ethical conduct.

Having this certification can help brokers to better serve their clients by providing them with more reliable advice and guidance on their insurance needs. It also helps them stay up-to-date on industry news and trends so that they can offer better advice to their customers. Additionally, it gives them access to more competitive rates from insurance providers as well as access to exclusive products and services available only through certified brokers. Lastly, having the certification gives brokers an edge in the competitive insurance market, allowing them to stand out from other non-certified brokers.

Pro Tip: Make sure to research the certifications and qualifications of any insurance broker you are considering working with. Most states require brokers to be licensed and certified, so it is important to ensure that the broker you select has the necessary qualifications and experience. Additionally, look for brokers who have specialized training in the type of insurance you are looking for. This can help ensure that you receive quality advice and assistance with your insurance needs.

Related: What does an Insurance Broker do?

Top 10 Insurance Broker Certifications

Here’s our list of the best certifications available to Insurance Brokers today.

1. Chartered Property Casualty Underwriter (CPCU)

The Chartered Property Casualty Underwriter (CPCU) designation is a professional credential for individuals working in the property and casualty insurance industry. It is conferred by The Institutes, a non-profit organization dedicated to providing education, research, and other services to the insurance industry.

To obtain the CPCU designation, an individual must complete eight college-level courses and pass eight examinations. The courses cover topics such as insurance operations, finance and accounting, law, ethics, management information systems, marketing and distribution of property/casualty insurance products, personal lines of insurance, commercial lines of insurance and reinsurance.

The time it takes to complete the program varies depending on how quickly an individual can complete the coursework and exams. Most people take between 18 months to three years to finish the program.

To get started with the CPCU program you will need to register with The Institutes website and pay a $75 registration fee. After that you will need to purchase each course separately from The Institutes’ online store at a cost of around $200 per course or $1,600 for all eight courses. You will also need to pay for each exam separately at a cost of around $125 per exam or $1,000 for all eight exams.

In total it costs approximately $2,675 in fees to obtain your CPCU designation.

2. Certified Insurance Counselor (CIC)

Certified Insurance Counselor (CIC) is a professional designation awarded by The National Alliance for Insurance Education and Research to individuals who demonstrate expertise in the field of insurance. It is designed to recognize those individuals who have achieved a high level of knowledge and understanding of the insurance industry. To obtain the CIC designation, individuals must complete five courses, pass five examinations, and meet other requirements.

The five required courses are: Commercial Property & Liability, Personal Lines, Life & Health, Agency Management & Operations, and Business Law & Professional Responsibilities. Each course consists of 30 hours of instruction and requires passing an examination with a score of 70% or higher.

To get the CIC designation, individuals must complete all five courses within three years and pass all five examinations with a score of 70% or higher. Additionally, applicants must have at least three years of full-time experience in the insurance industry prior to applying for the CIC designation.

The cost to obtain the CIC designation varies depending on which state you live in and which course materials you choose to purchase. Generally speaking, it costs approximately $1,000-$2,000 for all course materials plus examination fees.

3. Accredited Advisor in Insurance (AAI)

Accredited Advisor in Insurance (AAI) is a designation offered by The Institutes, a leading provider of professional education and certification for the insurance industry. It is designed to recognize individuals who have achieved a high level of knowledge and understanding of the principles of property-casualty insurance. This designation is intended to help individuals advance their careers in the field of insurance, as well as provide them with an opportunity to demonstrate their expertise.

The AAI designation requires candidates to complete four courses: Principles of Risk Management and Insurance, Personal Lines Insurance, Commercial Lines Insurance, and Business Law. Candidates must also pass a comprehensive examination after completing all four courses. The total cost for the program is approximately $1,400 USD.

The program can be completed in about two years if taken on a full-time basis; however, students may take up to five years if they prefer to study part-time. Upon successful completion of all requirements, candidates will receive their AAI designation from The Institutes.

To become an Accredited Advisor in Insurance (AAI), you must first meet certain eligibility requirements such as having at least two years of experience in the insurance industry or an equivalent combination of education and experience. You must also have successfully completed four courses from The Institutes’ curriculum related to property-casualty insurance and passed the comprehensive examination with a score of 70% or higher.

4. Associate in Risk Management (ARM)

Associate in Risk Management (ARM) is a professional designation offered by The Institutes, a leading provider of risk management and insurance education. The ARM designation is designed to provide individuals with the knowledge and skills to understand and manage risk in their organizations. It is intended for those who are new to the field of risk management or those who want to expand their existing knowledge.

The ARM program consists of four courses that cover the fundamentals of risk management and insurance, including topics such as property and liability risks, financial risks, legal aspects of risk management, and enterprise risk management. Each course requires approximately 15-20 hours of study time. In order to receive the ARM designation, students must pass all four courses with a grade of 70% or higher.

The cost for the ARM program depends on whether you take it online or in-person. Online courses cost $595 per course while in-person courses cost $795 per course. Thus, if you choose to take all four courses online, it will cost $2380 in total; if you choose to take them in-person, it will cost $3180 in total.

It typically takes about one year to complete all four courses and obtain the ARM designation. However, this timeline can vary depending on how quickly you complete each course.

5. Associate in Reinsurance (ARe)

Associate in Reinsurance (ARe) is a professional designation offered by The Institutes, a leading provider of insurance and risk management education. It is designed to provide individuals with the knowledge and skills required to work in reinsurance, which is an area of the insurance industry that focuses on managing the risks associated with large-scale insurance policies.

The ARe program consists of three courses: Foundations of Reinsurance, Principles of Reinsurance, and Advanced Reinsurance Practices. Each course requires approximately 40 hours of study time and can be completed online or through instructor-led classes. The cost for the entire program is $1,995 USD.

In order to obtain the ARe designation, individuals must pass all three courses as well as a comprehensive exam. Upon successful completion of all requirements, individuals will receive their ARe certificate from The Institutes. It typically takes four to six months to complete all requirements for the ARe designation.

6. Certified Professional Liability Underwriter (CPLU)

Certified Professional Liability Underwriter (CPLU) is a professional designation offered by the Insurance Institute of America. It is designed to recognize individuals who have demonstrated a high level of knowledge and expertise in the field of professional liability insurance. This designation is earned through a combination of education, experience, and examination.

To obtain the CPLU designation, an individual must first complete two courses offered by the Insurance Institute: Professional Liability Insurance and Professional Liability Risk Management. These courses are available online or in-person at various locations around the country. After completing these courses, an individual can then take the CPLU exam, which consists of 150 multiple-choice questions covering topics such as policy forms and coverages, underwriting principles and practices, claims handling, risk management principles, and legal issues related to professional liability insurance.

The cost for obtaining the CPLU designation varies depending on whether you take the classes online or in-person. The online courses typically cost between $400-$600 each while in-person classes can range from $800-$1,000 each. The exam fee is $200 for members of the Insurance Institute or $300 for non-members.

Once all requirements are met, it usually takes about 6-8 weeks to receive your CPLU designation from the Insurance Institute.

7. Certified Insurance Service Representative (CISR)

The Certified Insurance Service Representative (CISR) designation is a professional certification program offered by the National Alliance for Insurance Education & Research. It is designed to help insurance professionals increase their knowledge and skills in the areas of customer service, sales, policy processing, and risk management.

The CISR program consists of five courses: Personal Lines, Commercial Casualty, Commercial Property, Agency Operations and Risk Management. Each course is six hours long and covers topics such as coverages, endorsements, underwriting guidelines and claims handling. Participants must pass an exam after each course to receive their certification.

The cost of the CISR program varies depending on how many courses you take. The total cost can range from $1,000 to $2,500 depending on the number of courses taken.

In order to get certified as a CISR, you must complete all five courses and pass all five exams within a two-year period. After completing all five courses and passing all five exams within two years, you will be awarded your CISR designation which is valid for three years from the date of completion.

You can register for the CISR program online or through an authorized training provider in your area.

8. Associate in Commercial Underwriting (AU)

Associate in Commercial Underwriting (AU) is a professional designation awarded by The Institutes, a leading provider of risk management and insurance education. It is designed to give individuals the knowledge and skills necessary to become successful commercial underwriters.

The AU designation is earned after completing three courses: Principles of Commercial Underwriting, Commercial Property Underwriting, and Commercial Liability Underwriting. These courses can be taken online or in a classroom setting. The coursework covers topics such as legal principles, risk analysis, contract language, and pricing concepts.

It typically takes about six months to complete the three courses needed for the AU designation. However, this timeline can vary depending on how quickly an individual completes the coursework and passes the exams associated with each course.

To earn the AU designation, individuals must pass all three exams associated with the courses mentioned above. The exams are administered by The Institutes and are offered multiple times throughout the year at various locations around the country.

The cost of earning an AU designation depends on whether you take the courses online or in a classroom setting. Online courses typically cost between $1,000-$2,000 while classroom courses can range from $2,500-$3,500 depending on location and other factors. Additionally, there is an exam fee of $150 per exam that must be paid when registering for each exam.

9. Associate in Personal Insurance (API)

Associate in Personal Insurance (API) is a professional designation offered by The Institutes, which is a leading provider of risk management and insurance education. The API designation is designed to educate individuals on the principles of personal lines insurance and provide them with the skills needed to effectively serve their clients.

The API program consists of four courses: Principles of Personal Lines Insurance, Automobile Insurance, Homeowners Insurance, and Other Personal Lines Insurance. Each course covers topics such as policy language, underwriting guidelines, claims handling procedures, and legal issues related to personal insurance.

It typically takes about one year to complete all four courses. However, students can take up to three years if needed. To get started on the program, students must first register for an account at The Institutes’ website and pay the $200 enrollment fee. After that, they will be able to purchase individual courses or packages of courses at discounted rates.

Once all four courses have been completed successfully, students can apply for their API designation by submitting an application form along with a $100 application fee. Upon approval from The Institutes’ review board, they will receive their certificate in the mail within two weeks.

In total, it costs around $500-$600 to get the Associate in Personal Insurance (API) designation depending on whether you purchase individual courses or packages of courses.

10. Chartered Life Underwriter (CLU)

Chartered Life Underwriter (CLU) is a professional designation awarded by The American College of Financial Services. It is the highest professional credential for financial advisors specializing in life insurance and estate planning.

It takes approximately two years to earn the CLU designation, depending on your educational background and experience. To earn the CLU designation, you must complete eight courses, pass an exam after each course, and complete a capstone project.

The cost of obtaining the CLU designation varies depending on how you choose to take the courses. You can take them online or in-person at The American College of Financial Services campus in Bryn Mawr, Pennsylvania. The cost ranges from $1,500 to $2,000 per course plus any applicable fees.

In addition to the cost of taking the courses, there are also fees associated with becoming a Chartered Life Underwriter such as registration fees and annual dues for membership in The American College of Financial Services Alumni Association.

Do You Really Need a Insurance Broker Certificate?

An insurance broker certificate is an important credential for anyone who wishes to become an insurance broker. This certification proves that the individual has completed the necessary education and training to provide professional advice on various types of insurance policies.

Having a certificate from an accredited institution can help you stand out in the competitive field of insurance brokers. It shows potential employers and clients that you have taken the time and effort to learn about the industry, as well as demonstrate your commitment to professionalism. It also gives you credibility with clients, as they know that you have been properly trained and certified by a reputable organization.

The requirements for obtaining an insurance broker certificate vary by state, but generally include taking courses in areas such as risk management, commercial property and liability coverage, employee benefits, life and health products, ethics, and legal compliance. You may also be required to take continuing education classes in order to maintain your certification status.

In addition to helping you land a job or attract new clients, having an insurance broker certificate can give you an edge when negotiating with carriers. Insurance carriers are more likely to offer better terms if they know that you are certified by a recognized organization. This means you will be able to get better deals on premiums and other details of coverage for your clients.

In conclusion, having an insurance broker certificate is beneficial for anyone looking to become an insurance broker or expand their business in this field. It can help make your resume stand out from other applicants and give you leverage when dealing with carriers. Ultimately, it is up to each individual if they want or need this certification; however, it is highly recommended for those who wish to pursue a career in this field.

Related: Insurance Broker Resume Examples

FAQs About Insurance Broker Certifications

1. What is an Insurance Broker Certification?

Answer: An Insurance Broker Certification is a professional designation issued by the National Association of Insurance Commissioners (NAIC) that recognizes individuals who have completed educational and training requirements in the insurance industry.

2. What are the Benefits of Becoming an Insurance Broker?

Answer: Becoming an insurance broker can provide individuals with a greater understanding of the insurance industry, access to specialized resources, and increased earning potential. Additionally, certifications can help professionals demonstrate their expertise to employers and clients.

3. How Do I Earn an Insurance Broker Certificate?

Answer: To earn an insurance broker certificate, applicants must complete a series of courses approved by the NAIC and pass an exam to demonstrate their knowledge of the subject matter. The courses typically include topics such as ethics, laws and regulations, risk management, and financial analysis related to insurance products.

4. Is Continuing Education Required for Insurance Brokers?

Answer: Yes, continuing education is required for insurance brokers in order to maintain their certification status. Most states require that brokers complete at least 24 hours of continuing education credits every two years in order to remain certified.

5. How Much Does It Cost to Become Certified as an Insurance Broker?

Answer: The cost of becoming certified as an insurance broker varies depending on the state you reside in and the type of certification you are pursuing. Generally speaking, the cost includes registration fees, course fees, and exam fees which can range from $500 - $1,000 USD depending on your location and chosen program.