Associate in Commercial Underwriting (AU)
What Is an Associate in Commercial Underwriting (AU)?
An Associate in Commercial Underwriting (AU) is a professional certification granted to a financial professional qualified to assess risk for commercial insurance companies. These risks incorporate losses that stem from insurance coverage gave to shield against future financial loss from injury, illness, property damage, or liability for the losses of others.
Insurance underwriters survey applications for insurance coverage. They assess the possible risk, and acknowledge, reject, or alter the policy as per law or company standards.
Grasping Associate in Commercial Underwriting (AU)
The AU is granted by The Institutes, a financial education and credentialing organization, upon effective completion of a top to bottom self-concentrate on program and finishing national exams. The program leading to this assignment is intended for agency and company underwriters, field delegates, and account managers, and requires a working information on insurance principles and coverages.
The AU assignment is a program that supplements commercial underwriting skills learned at work. The term underwriter gets from financial bankers who might acknowledge a portion of the risk on a given venture, generally a sea voyage. In exchange for a premium, they would compose their names under the risk data which was written on a slip made for this purpose.
Today, insurance underwriters are professionals who assess and dissect the risks of guaranteeing individuals and assets and lay out pricing for accepted insurable risks. Underwriters assist with pricing life insurance, health care coverage, commercial liability insurance, and homeowners insurance.
Associate in Commercial Underwriting (AU) Course Requirements
As per The Institute, the most vital move toward earning the AU assignment is to pass four "center" courses covering:
- Commercial insurance
- Commercial underwriting principles
- Underwriting commercial property
- Underwriting commercial liability
In the mean time, to fulfill the ethics requirement, competitors must likewise pass 311: Ethical Decision Making in Risk and Insurance. This course comes at no extra cost and is intended to help professionals "procure the decision-production apparatuses to keep up with ethical standards and save the public's trust."
The average opportunity to complete the AU course and all exams goes from nine to 15 months, as per The Institutes. When the qualification has been secured, certified AUs can, in the event that they wish, take one extra module, AU 67: Strategic Underwriting Techniques, to earn the Associate in Commercial Underwriting — Management (AU-M) assignment.
The Institutes additionally offers the accompanying professional assignments, among others: Chartered Property Casualty Underwriter (CPCU); Associate in General Insurance (AINS); Associate in Loss Control (ALCM); Associate in Risk Management (ARM); Accredited Adviser in Insurance (AAI); Associate in Reinsurance (ARe); Associate in Insurance Accounting and Finance (AIAF); Associate in Insurance Services (AIS); and Associate in Management (AIM).
Finishing the AU program might grant you credits toward at least one of these different credentials.
Features
- The average opportunity to complete the AU course and all exams goes from nine to 15 months.
- The Associate in Commercial Underwriting (AU) is a qualification earned by professionals in the field of commercial insurance underwriting.
- Oneself review program and exams build competencies in underwriting principles, ethics, and a restrained approach to underwriting commercial property openings and assessing causes of loss.
- The AU assignment is planned for insurance agents and brokers, commercial underwriters and supervisors, line of business managers, and reinsurance professionals.
