Associate in Marine Insurance Management (AMIM) Definition

By
Maya Dollarhide
Full Bio
Maya Dollarhide has 15+ years of experience as a fact checker and reporter, freelance writer, and working with B2B clients.
Learn about our editorial policies
Updated April 06, 2023
Reviewed by
Amy Soricelli
Amy Soricelli
Reviewed by Amy Soricelli
Full Bio
Amy Soricelli has over 40 years working with job candidates and has honed the art of the job search in all areas. She offers one-on-one session interview preparation skills or constructs resumes for job seekers. She conducts workshops and seminars on all aspects of the job search and is a consistent contributor to HBCU Career Connection.
Learn about our Financial Review Board
Fact checked by
Jared Ecker
BW Photo
Fact checked by Jared Ecker
Full Bio
Jared Ecker is a researcher and fact-checker. He possesses over a decade of experience in the Nuclear and National Defense sectors resolving issues on platforms as varied as stealth bombers to UAVs. He holds an A.A.S. in Aviation Maintenance Technology, a B.A. in History, and a M.S. in Environmental Policy & Management.
Learn about our editorial policies
Associate in Marine Insurance Management (AMIM)

Investopedia / Mira Norian

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.

Key Takeaways

  • 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 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.

Special Considerations

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.

Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

  1. The Institutes. "Main Page."

  2. The Institutes. "Associate in Marine Insurance Management (AMIM®)."

  3. The Institutes. "Exam Information."

Take the Next Step to Invest
×
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.
Service
Name
Description