DEFINITION of 'Associate in Risk Management - ARM'
A nationally recognized educational program for dedicated risk management professionals, developed by the Insurance Institute of America. Science of risk management includes how to avoid, reduce and manage risk. Such a person as holds this designation is competent in the risk management process, including legal foundations of property, personnel and net income loss exposure and can assist to make risk management decisions to any organization's exposures to accidental and business losses. The ARM program consists of three parts: risk assessment, risk control; and risk financing.
BREAKING DOWN 'Associate in Risk Management - ARM'
The ARM program teaches in-depth knowledge to assess and respond to the numerous hazard risks insurance companies' face. ARM also meets one of the requirements for the Risk and Insurance Management Society, Inc. (RIMS) Fellow designation. RIMS is a not-for-profit organization dedicated to advancing the practice of risk management. RIMS represents risk management professionals around the world.