Semester Courses
Essentials in Risk Pool Management Certificate Program
The management and staff of a risk pool must have a multitude of tools available in order to be effective in the risk pool environment. The Essentials in Risk Pool Management curriculum provides a risk pool participant with theoretical and practical knowledge which provides a solid foundation to successfully work within or manage the risk pool. Register here
What is the "Essentials in Risk Pool Management" Certificate Program?
The one-course certificate program, developed through a collaboration of the
National League of Cities Risk Information Sharing consortium (NLC-RISC), the
Association of Governmental Risk Pools (AGRiP), California Association of Joint
Powers Authorities (CAJPA) and Insurance Educational Association (IEA) is designed
to develop individuals qualified to be a member of staff, administer or manage
risk management pools. The certificate is awarded upon successful completion
of a 12 to 14 week course which covers the following curriculum:
Educational Objectives of Section
1
- Understanding key aspects of commercial property and casualty insurance
- Understanding the pool manager's role
- Overview of insurance pooling
- Understanding financial reporting
- Insurance accounting
- How to use GASB claim schedules
- Claims expense and reconciliation
- Actuarial studies
- Claims audits
- By-laws and pooling agreements
- Financial stability of a pool
- Underwriting and rating considerations
- Process for evaluating excess insurers, excess risk pools and reinsurers
- Employee benefits pools
- Pool/Board relations, roles and responsibilities
- Mentoring/shadowing
- Succession planning
- Alliance management/performance standards for TPAs
- Governance
- Need for cross-discipline knowledge (impact of a decision in one functional area affecting other function areas)
- Public sector claims, i.e., how they differ from the private sector
- Options for handling excess surplus
- Understanding and managing the insurance marketplace
- Differences in pool structure/operations among the states (high-level overview)
- Comparison of pool organizational documents and intergovernmental agreements, especially among states
- Required soft skills and attributes, i.e., strong character, integrity,
ability to work collegially with people of different cultures, ages, etc.
Who will benefit from the program
Risk pool staff, administrators and managers at all levels, individuals aspiring to risk pool management positions, insurance industry personnel, and service providers who work closely with risk pools.
Essentials in Risk Pool Management will be multifaceted, including self-study, an Insurance Educational Association online learning platform where students can download review questions posted by the instructor and then upload their answers to the website, and weekly teleconference calls with the instructor. The IEA learning platform contains the syllabus, handouts, and multiple choice and essay exams. The course is designed to take 12-14 weeks to complete.