School of Business

Certificate in Risk Management and Insurance

The certificate program in risk management and insurance (RMI) is a way for individuals already working in risk management, insurance, and financial services to develop a deeper understanding of the business in which they work without the larger and protracted experience of seeking a complete (or in some cases second) undergraduate degree. The RMI certificate is only available to non-matriculated students.

Can the courses translate into credit towards a professional designation?

The RMI 350 course (Managing Risk with Property & Liability Insurance) qualifies as credit towards two different, highly respected risk management and insurance professional designations.

 

  1. CRM (Certified Risk Manager): The National Alliance for Insurance Education & Research awards the CRM designation to risk professionals after completion of five components (see https://www.scic.com/crm). If you earn a C or better in this course you can earn credit for the “Financing of Risk” component of the CRM designation at absolutely no cost to you.
  2. CPCU (Chartered Property & Casualty Underwriter): The Institutes awards many different risk management and insurance professional designations, with the CPCU designation being one of the most recognized designations in the industry. It requires the completion of eight national exams (see https://www.theinstitutes.org/program/chartered-property-casualty-underwriter-cpcu#programreqs). The CPCU Collegiate Studies program (see https://www.theinstitutes.org/e_campaigns/collegiatestudiescpcu.php) allows students at qualifying universities to earn credit towards the CPCU designation by earning at least a B or better in a qualified course. RMI 350 is a qualifying course, satisfying the CPCU 557 – Survey of Commercial Insurance component.

 

All of the RMI course are approved for continuing education credits for the Maine state insurance agents license through the Maine Bureau of Insurance.

For more information regarding the RMI Certificate Program contact:
Professor Dana Kerr
(207) 780-4059 - dana.kerr@maine.edu

Admission to the RMI certificate program is open to those who have completed 54 credit hours with a GPA of 2.33 or higher. Those who have a minimum of three years of risk management, insurance, or other financial services work experience and a high school diploma, or GED may also apply.

The RMI certificate program is a 15-hour program consisting of two required core courses and three elective courses. There is no particular order in which either core or elective courses must be taken as long as individual course prerequisites are satisfied.

Required Core Courses (6 credit hours):

RMI 320 Introduction to Risk Management and Insurance RMI 330 Health, Life, and Disability Insurance or

RMI 350 Managing Risk with Property and Liability Insurance

Elective Courses (9 credit hours) – choose any three courses from the following list (with permission, other risk-related courses can satisfy elective requirements):

RMI 330 Health, Life, and Disability Insurance or

RMI 350 Managing Risk with Property and Liability Insurance (if not chosen as a required course above) ACC 110 Financial Accounting Information for Decision Making

ACC 418 Principles of Fraud Examination (ACC 110) BUS 201 Personal Finance

BUS 280 Legal Environment of Business BUS 340 Managing Organizational Behavior

BUS 347 Triple Bottom Line Business (BUS 260 and 280, or permission)

CMS 255 Business and Professional Communication CRM 216 White-collar Crime (CRM 100 or permission) ITC 100 Introduction to Construction Management

ITP 210 Technical Writing (ENG 100 or permission) ITP 310 Facility Planning

ITP 350 Teambuilding and Facilitation ITP 381 Human Resource Development ITS 300 Ergonomics/Time Study

ITS 320 Occupational Safety and Health

ITT 241 Information and Communication Technologies LOS 300* Organizational Theory

LOS 301* Group Dynamics LOS 350* Leadership

POS 360 Terrorism and the American Public PSY 340 Behavior Modification (PSY 101)

 SBS 362/LOS 599/HON 299 Introduction to Regulatory Compliance: Applying to Scissors to Red Tape SWO 374 Sexual Harassment in Education and Work (permission)

SWO 375 Gender and Aging (permission)

TAH 221 Tourism and Hospitality Management

TAH 321 Lodging Operations and Systems (TAT 101 or TAH 221)

_____________

* Completing LCC 370 Toward a Global Ethics in addition to LOS 300, 301, and 350 (all offered online) may allow the student to also earn the Certificate in Leadership Studies.

 

Enrollment in specific courses is based on eligibility criteria and availability of space in the courses. Enrollment in some highly demanded courses may be restricted or prohibited in any given semester. Admission into the certificate program does not guarantee admission into any other USM program or enrollment in any specific course.

 

Students must complete the required 15 credit hours within four years after the application date and must earn a minimum 2.33 cumulative GPA to obtain the certificate. Students may be able to apply earned certificate course credit towards an undergraduate business degree at USM provided they earn a minimum 2.33 GPA in the certificate program courses.

 

Related courses previously taken in associate or baccalaureate degree programs at regionally accredited colleges and universities in which a minimum grade of C+ was earned may be applied towards the non-RMI elective courses of the proposed certificate program. Transfer credit will not be permitted for the RMI core courses. Non-matriculated students enrolled in this certificate program are not eligible for financial aid.