What Is an Associate in Reinsurance (ARe)?
Associate in Reinsurance (ARe) is a designation earned by insurance professionals looking for reinsurance training and to be conferred by The Institutes. The Associate in Reinsurance, or ARe, designation indicates that the holder has demonstrated knowledge of reinsurance, including an understanding of reinsurance contract terms, reinsurance pricing, and reinsurance treaties.
Understanding Associate in Reinsurance (ARe)
Earning the Associate in Reinsurance designation requires an individual to take a series of exams that cover different aspects of reinsurance contracts and the reinsurance industry. The designation is recommended for reinsurers, claims adjusters, policy underwriters, and financial professionals that may work with reinsurance treaties.
Candidates take a series of self-taught courses before taking final exams, with the materials available for purchase from the test-taking authority. In some cases, instructor-led classes may be available depending on the area. The Associate in Reinsurance does not have continuing education requirements.
In order to earn the ARe, an applicant must first complete four foundational courses, one elective course, and an exam covering ethics. Foundation courses include fundamentals of personal and commercial insurance, principles and practices of reinsurance, contemporary issues facing the reinsurance industry, and insurance operations and regulations. Electives include finance and accounting for insurance professionals, risk financing, and insurance accounting and regulation. The ethics examination is an online examination that is free of charge.
The amount of time it takes to complete this course is estimated at 12 – 18 months. Candidates are not required to complete the course examinations all at once and may spread them out over a longer period of time if necessary. The tests are taken on a computer.
A number of the courses are also used for other designations, including the Chartered Property Casualty Underwriter (CPCU), Associate in Risk Management (ARM), and Associate in Insurance Accounting and Finance (AIAF). Credit may also be earned toward the Associate in Insurance Services (AIS) and Associate in General Insurance (AINS) designations.
The designation is offered by The Institutes as one of 25 professional designations. The Institutes calls itself "the industry’s trusted and respected knowledge leader, The Institutes and our affiliates are committed to meeting the evolving professional development needs of the risk management and insurance community. We prepare people to fulfill their professional and ethical responsibilities by offering customer-focused and innovative educational, research, networking, and career resource solutions."
Professional designations have proliferated in recent years, especially in the financial field. Professionals who deal regularly with consumer clients find that the designations are an important credential that serves to boost their status and knowledge.