Chartered Property Casualty Underwriter (CPCU®) Professional Designation
Set yourself apart.
More than 65,000 people have earned the CPCU professional designation. They are claim adjusters, underwriters, risk managers, brokers, agents, regulators, consultants, attorneys, and educators. CPCU is respected as the premier designation in property-casualty insurance, and holding this designation immediately identifies you as a knowledgeable and dedicated professional.
Gain the Skills You Need to Succeed. The CPCU program is better than ever.
The program
- Focuses on the legal, financial, and operational aspects of risk management and insurance, as well as on financial services.
- Reflects the current business environment.
- Provides a broad understanding of property-casualty insurance.
- Gain in-depth, broad-based knowledge in risk management and insurance.
- Learn practical skills that you can put to work immediately.
- Learn how to make better decisions on the job.
- Distinguish yourself from your peers while demonstrating your commitment to professionalism.
- Earn the respect accorded those who hold the designation.
- Read more about the benefits of being a CPCU.
Program Structure
The CPCU program consists of eleven courses. You must pass 8 courses to earn the CPCU designation. All candidates must complete the five foundation courses. In addition, you select either the commercial or personal insurance concentration and complete the three courses in the concentration of your choosing. You may not combine courses from both concentrations.
Five foundation courses:
| CPCU 510 | Foundations of Risk Management, Insurance, and Professionalism |
| CPCU 520 | Insurance Operations, Regulation, and Statutory Accounting |
| CPCU 530 | The Legal Environment of Insurance |
| CPCU 540 | Finance for Risk Management and Insurance Professionals |
| CPCU 560 | Financial Services Institutions |
Three courses in either the personal or commercial concentration:
Commercial Concentration ( with personal survey)
| CPCU 551 | Commercial Property Risk Management and Insurance |
| CPCU 552 | Commercial Liability Risk Management and Insurance |
| CPCU 553 | Survey of Personal Risk Management, Insurance, and Financial Planning |
Personal Concentration (with commercial survey)
| CPCU 555 | Personal Risk Management and Property-Liability Insurance |
| CPCU 556 | Personal Financial Planning |
| CPCU 557 | Survey of Commercial Risk Management and Insurance |
Required Courses and Topics Covered
CPCU 510—Code of Ethics, Risk, Understanding Risk Management, Risk Assessment, Risk Control, Risk Financing, Financial Services and Insurance Markets, Insurance Mechanism, Insurable Risks, Legal Environment of Insurance, Insurance Policy, Insurance Policy Analysis, and Amounts Payable.
CPCU 520—Insurance Operations, Regulation of Insurance, Insurance Marketing, Underwriting Property Insurance, Underwriting Liability Insurance, Ratemaking, Property Claim Adjusting, Liability Claim Adjusting, Reinsurance, Insurer Financial Statements, Insurer Financial Management, and Insurer Business Strategy and Global Operations
CPCU 530—U.S. Law and Regulation; Contract Law: Contract Formation, Agreement, Legal Capacity, Consideration, Legal Purpose, Genuine Assent, Form, Interpretation, and Obligations; Insurance Contract Law; Commercial Law; Property Law; Tort Law: Negligence, Intentional Torts, Products Liability, Environmental Torts, Special Liability, and Litigation Concepts; Agency Law; Insurance Applications of Agency Law; Employment Law; Business Entities; and the International Legal Environment of Insurance
CPCU 540—Basics of Corporate Finance, Financial Statements, Sources of Additional Financial and Nonfinancial Information, Financial Statement Analysis, Working Capital Management, Time Value of Money, Discounted Cash Flow Valuation, Bonds and Stocks, Operating Environment and Corporate Finance, Insurer Investment Strategies, Insurer Income and Dividend Policy, Insurer Capital: Needs and Sources, Capital Structure of Insurers, Making Capital Investment Decisions, and Mergers and Acquisitions
CPCU 560—Financial Markets, Federal Reserve, Money Markets, Bond Markets, Stock Markets, Derivative Securities, Commercial Banks, Regulation of Commercial Banks, Other Lending Institutions, Insurance Companies, Securities Firms and Investment Banks, Mutual Funds, Pension Funds, and Risks Incurred by Financial Institutions.
Commercial Insurance Concentration Courses
CPCU 551—Property Loss Exposures; Building and Personal Property Coverage; Causes of Loss Forms; Flood, Earthquake, and Specialty Forms; Business Income; Inland Marine and Ocean Cargo; Crime; Equipment Breakdown; Businessowners and Farmowners; and Surety Bonds.
CPCU 552—Liability Loss Exposures, Liability Risk Control, General Liability Insurance, Business Auto Insurance, Garage and Motor Carrier Insurance, Workers’ Compensation and Employers’ Liability Loss Exposures, Workers’ Compensation and Employers’ Liability Insurance, Management Liability Loss Exposures and Insurance, Professional Liability Loss Exposures and Insurance, Environmental Loss Exposures and Insurance, Aviation Loss Exposures and Insurance, Excess and Umbrella Liability Insurance, and Advanced Risk Financing Techniques.
CPCU 553—Automobile Insurance and Society, Personal Auto Policy, Homeowners Insurance, Other Residential Insurance, Other Personal Property and Liability Insurance, Personal Loss Exposures and Financial Planning, Life Insurance, Health and Disability Insurance, Investment Planning, Planning for Retirement, and Estate Planning
Personal Insurance Concentration Courses
CPCU 555—Personal Risk Management, Homeowners Insurance, Homeowners
Endorsements and Variations, Personal Auto, Recreational Vehicles, Developing Personal Insurance Products, Underwriting Profitability, Pricing Personal Insurance Products, Reunderwriting Personal Insurance Portfolios, and Gaining Efficiencies in Personal Insurance Operations.
CPCU 556—Life Insurance and Social Security; Health, Disability, and Long-Term Care; Basic Investment Principles; Equity and Fixed-Income Investments; Mutual Funds; Asset Allocation; Income Tax Planning; Planning for Retirement; Estate Planning; and Financing Education Expenses.
CPCU 557—Commercial Property, Business Income, Commercial Crime, Equipment Breakdown, Inland and Ocean Marine, Commercial General Liability, Commercial Auto, Businessowners, Farm, Workers Compensation and Employers Liability, and Risk Control.
Course sequence: CPCU 510 is designed to be the starting point. However, students can take courses in any sequence according to their background, needs, and interests.
Course waiver information: See the chart for waiver information.
How to Apply for Advanced Degree or Professional Designation Waivers
To apply for waivers in the new CPCU program, do the following:
Download the application form. Send in the completed form with an official transcript (no photocopies accepted) and payment of the $125 waiver application fee. The fee will be refunded if your application is not approved. The fee may be paid by check or money order. Or you may charge MasterCard, VISA, American Express, or Discover.
For non-U.S. MBA degrees, the Institutes have chosen the World Education Service (WES) as the agency to evaluate these degrees on our behalf. Contact WES at www.wes.org and order a "Comprehensive Course-by-Course" evaluation of your MBA degree. Direct WES to send a copy of the evaluation directly to the Institutes at the address shown on our application form. You must also send a completed application form and the $125 waiver application fee directly to the Institutes.
Note: No waiver application is needed for IIA program waivers.
You will be notified of your waiver status within a month of receipt of your application.
Note: No opinions regarding transfer credit for college courses or professional designations will be provided by telephone or e-mail.
Matriculation
You must matriculate (register as a candidate) with the American Institute by submitting a matriculation form and fee. The matriculation form is included with your registration materials, and it can be printed off our Web site. You should submit the matriculation form and fee with the registration for your first CPCU exam. You must sign a statement on the matriculation form agreeing to abide by the Institute's Code of Professional Ethics.
Ethics Requirement
The American Institute's Code of Professional Ethics is the standard by which your ethical behavior as a candidate or CPCU designee is measured. You are subject to the Code once you sign the matriculation form, and you continue to be subject to it throughout your candidacy and after receiving the CPCU designation.
When you have completed a substantial portion of the educational requirements for the CPCU designation, we will send you forms to document your meeting the ethics and experience requirements. If you do not receive these forms, contact Barbara Small at (610) 644-2100, ext. 7631, or e-mail small@cpcuiia.org. After grades are released, we will notify you that you have met all CPCU designation requirements.
In order to attend a specific conferment ceremony, your ethics and experience form must be received and approved before June 30th of the conferment year.
Experience Requirement
You must submit a resume showing that you were engaged in acceptable insurance activities for any 36 months (minimum of 17½ hours per week) during the five-year period immediately preceding the conferment of the CPCU designation. See the matriculation form for specific requirements. If you meet all requirements except the experience requirement, the designation will be conferred when you meet it.
Exam Types
All CPCU courses except 553 and 557: Approximately 30-35 computer-administered essay questions. Time allotted: 3 hours. CPCU 553 and CPCU 557: One hundred computer-administered objective (multiple-choice) questions. Time allotted: 3 hours.
Continuing Professional Development (CPD)
The CPD program is designed to encourage all CPCUs to broaden their professional knowledge and to recognize them for doing so. A CPCU participates in this voluntary program by accumulating 60 points for certain professional and educational activities conducted over a period of 24 consecutive months. A certificate is available for CPD qualifiers. Submit a completed Continuing Professional Development Form to apply for CPD credit or complete an online form from the CPCU Society.
Is this Program Right for You?
If you are new to the industry or are uncertain as to whether this program is right for you, try our online advising or fill out a self-inventory form and mail it to the Institutes.
Get Started Now!
Get started now by ordering study materials. You can register for your exam when you order study materials, or you can register closer to your exam date. If you have questions, contact Customer Service at customerservice@cpcuiia.org.