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Associate in Risk Management (ARM)

Associate in Risk Management (ARM)

To be an effective risk manager, you need to develop the skills that are vital to effectively controlling, assessing, and financing risk. Davenport University's Institute for Professional Excellence has partnered with The Institutes’ to offer the Associate in Risk Management program that will help you enhance your risk management skills by teaching you how to build and implement a balanced risk financing strategy using retention, transfer, and hybrids.

Course Level: Intermediate

Exams: Three

Completer Info: Passing the required exams earns the designation.

The following courses are required to earn the Associate in Risk Management (ARM) designation: 

  • ARM 54 — Risk Management Principles and Practices 

Risk Management Standards and Guidelines; Hazard, Operational, Financial, and Strategic Risk; Risk Identification, Analysis, and Treatment; Financial Statement Risk Analysis; Capital Investment 

  • ARM 55 — Risk Assessment and Treatment

Risk Assessment and Treatment; Root Cause Analysis; Business Continuity Management; Intellectual Property, Reputation, Legal, and Regulatory Risk; Management Liability; Environmental, Crime, Cyber, and Fleet Risk 

Risk Financing; Estimating and Transferring Hazard Risk; Self-Insurance Plans; Retrospective Rating Plans; Reinsurance; Captive Insurance; Contractual Risk Transfer; Transferring Financial and Hazard Risk


This program is recommended for experienced professionals who already possess a good knowledge of insurance practices and some formal study of insurance principles, including:

  • Agents and brokers,
  • Agency principals,
  • Line of business managers and executives,
  • Risk managers,
  • Operational risk staff for banks and insurers.

Why ARM?

Increase your value to your organization by learning to design a risk management program for hazard, operational, financial, and strategic risks

Improve your effectiveness by acquiring skills needed to assess and treat your organization's risks

Support overall financial goals by learning to design and implement retention, transfer, and hybrid risk financing plans

Continuing Education (CE)

Most of The Institutes courses are approved for CE credit in most states. Please visit The Institutes' CE search page to view information on ARM CE