Experienced Industry Professional Pathway

Application Requirements for the designation of Certified Catastrophe Risk Management Professional (CCRMP)[1]

Based on Experience in Lieu of Examinations

The Experienced Industry Professional pathway allows individuals to earn the Certified Catastrophe Risk Management Professional (CCRMP)credential through an application process rather than by completing the required courses or exams. EIP applicants must be nominated by an individual who has already attained the CCRMP designation through this process and then submit documentation providing details about their skills and experience in the field of catastrophe risk management.

There is no application fee to apply for the credential via the EIP pathway, but in order to receive the designation, applicants must pay an annual fee that includes membership in both ISCM and iCAS. CCRMP credential holders will need to pay this fee annually if they wish to continue to use their credential.

Requirements

  1. Nomination – All candidates for this designation must be nominated by an Experienced Industry Professional with the designation noted above. For purposes of nominating initial candidates, ISCM members of the Certification Program’s Advisory Committee will be considered Experienced Industry Professionals.
  2. Evidence of Experience – Once nominated, each candidate will be notified and will be required to provide evidence of mastery in each subject matter category listed in the current syllabus and noted herein. This will include providing written descriptions of experience, examples and references who can verify competencies and/or prior supervision.   Narratives citing examples of experience, competencies and mastery of each section should be at least ½ page but should no more than 1 page in length.  The narrative may include references to confidential work but should not disclose any confidential information.
    1. General Skill Requirements – 3 sections
      Subject Matter Categories required for exams pertaining to the designation of
      Certified Specialist in Catastrophe Risk (CSCR)1

      • Property & CAT Insurance Fundamentals
        • Passing of relevant exams or
        • Demonstration of understanding plus application
          • Insurance and/or reinsurance
      • CAT model Usage
        • Use of multiple models
        • Demonstrate understanding / plus application of:
          • Hazard Impact
          • Building vulnerabilities
          • Different coverages / lines of business
      • CAT Model Results Usage
        • Demonstrate experience and competency using database / data manipulation
        • Exposure data management
        • Use of model output from various models
  1. Advanced Skill Requirements – 5 sections
    Subject Matter Categories required for exams pertaining to the designation of
    Certified Catastrophe Risk Management Professional (CCRMP) 1 

Advanced CAT Risk Management and use of CAT Models – Candidates must demonstrate mastery through both understanding and application of the following:

  • Understanding of Model capabilities and limits (required)
    • Identifying model bias
    • Adjustments as need for unmodeled perils
    • Sensitivity testing and/or model validation
  • Portfolio Risk Management (required)
    • Application of advanced risk metrics
    • Accumulation methodologies
    • Model bias &/or incorporation of unmodeled perils
  • Pricing & Risk Capital allocation (required)
    • Structuring risk transfer structures (insurance, reinsurance, ILC, etc.)
    • Special considerations related to the use of cat model output in regulated product rate filings
    • Special considerations related to the use of cat model output in reinsurance placement and pricing
  • General Model usage (required)
    • Customizing models to create your own view of risk. This includes frequency customizations and severity customizations
    • Communicating customizations to stake holders and third parties (how and why the adjustments were made)
  • Post Event loss estimation / accumulation experience (optional)
    • Major team contributor to post event loss estimation
    • Manager and/or leadership of post event loss estimation / reserving advise
  1. Experience Time Requirements

Each candidate shall provide an experience timeline (resume, etc.) indicating which jobs qualified under each subsection of the General & Advanced Skill Requirements

  1. General Skills – Must demonstrate at least 5 years’ experience performing skills in this class
  2. Advanced Skills – (in addition to the time spent building general skills experience)
    • Performance of these tasks for at least 5 additional years
    • Oversight / company responsibility / leadership overseeing these roles (no minimum but years spent in this capacity will be considered towards qualification)

In addition, each candidate should provide three references who are familiar with the candidate’s work experience.

[1] The designations and their abbreviations noted herein, are trademarks of the ISCM and iCAS who jointly own and manage the credentialization process for this designation as outlined in the Master Collaboration Agreement between the ISCM & iCAS.