What Is an Associate in Marine Insurance Management (AMIM)?
An Associate in Marine Insurance Management (AMIM) is The Institutes' professional designation for marine insurance professionals. The Institutes is a risk and insurance knowledge group that provides educational support, resources and conducts leading research to help people working in risk management and insurance. It also offers courses and designations, certificates, and professional development programs, online courses, and continuing education opportunities, according to its website.
The AMIM is designed to deepen the understanding of marine insurance for those who frequently advise clients in marine insurance cases. The AMIM’s areas of expertise include ocean marine insurance, inland marine insurance, principles of risk management and insurance, and insurance company operations.
This program of study is valuable for individuals working in the fields of ocean marine and inland marine insurance. The AMIM program was developed with the technical and financial assistance of the Inland Marine Underwriters Association and the American Institute of Marine Underwriters.
- The Institutes, a risk management and insurance knowledge group, offers a professional designation for those interested in working in marine insurance.
- Marine insurance individuals advise clients in marine-associated insurance cases.
- Associates in marine insurance management may specialize in marine underwriting, brokerage, or even customer service representatives for marine insurance companies.
- Candidates do not need to enroll in continuing education courses after they obtain their designation.
- Marine insurance covers the loss or damage associated with multiple areas of shipping companies, like the damage and loss of cargo, ships, and accidents at shipyards.
- AMIM candidates must pass an exam in four classes to obtain the professional designation.
Understanding Associates in Marine Insurance Management (AMIM)
The AMIM designation is recommended for marine managers, marine underwriters, agents and brokers, agency principals, claims adjusters, risk managers, call center personnel, customer service representatives, and commercial package underwriters. Completing the AMIM coursework may also earn credit toward the Associate in General Insurance (AINS) and Associate in Insurance Services (AIS) designations. Candidates do not need to meet any experience or education requirements to attain this designation, and there are no continuing education requirements.
AMIM candidates gain improved knowledge about how marine insurance covers the damage or loss of ships, cargo, hulls, terminals, shipyards, or any property by which cargo is acquired, transferred, or held between the points of origin and final destination. The AMIM program can be completed in as little as 18-24 months, depending on how much time you devote to the program.
AMIM subjects in the four required courses cover shipping fundamentals, cargo insurance policies, cargo underwriting, and even fine arts insurance.
Candidates must pass examinations in four classes to receive the AMIM designation. The four required courses are ocean marine insurance, inland marine insurance, managing evolving risks, and connecting the business of insurance operations. Subjects covered in the required courses include shipping fundamentals, cargo insurance policies, cargo underwriting, hull insurance, insurance company operations, and fine arts insurance.
Local testing centers administer the exams throughout the year, with results provided immediately upon completing the exam. Those pursuing the AMIM designation must also pass the ethical decision-making in risk and insurance course.