Certified Risk Manager

The certified risk manager designation is fairly new to the insurance risk management world. As of 2007 there are less than 2000 CRM's world wide. Risk Management is an ever growing field of endeavor, and it's a pragmatic extension of the domain of insurance.

Risk management process is, usually, five-layered:

Identification
The process of identifying exposures (whether financial, social, physical, juridical, political, or otherwise) that face our organization.

Analysis
Determine how these exposures impact or could impact the organization.

Control
Determine how to control these exposures by eliminating them or reducing their effect.

Finance
The step where it is determined how will these exposures be dealt with as they arrive? Through insurance premiums paid in advance, or through internal funds, etc.

Administration
The final step in the process is to put all the above work together into practice, and ultimately to start over.

In order to secure the a professional designation in this area (CRM: Certfied Risk manager)one needs to complete the prescribed coursework offered by The National Alliance for Insurance Education and Research.