What is an Associate In Loss Control Management?

The Associate in Loss Control Management is a professional designation given to individuals by the Insurance Institute of America after completing the five national exams successfully. Two of the five national exams are for the ALCM program, while three are for Chartered Property Casualty Underwriter courses.

What Does an Associate In Loss Control Management Do? 

The ALCM program course is offered by the Insurance Institute of America (IIA). The IIA is a professional education organization that deals with risk property-casualty insurance industries and risk management. Loss control is one of the significant functions of the property-casualty insurance industrys training programs. The area deals majorly with the selection, design, and implementation of loss functions. Companies can use loss control consulting services, to help them in their various operations such as:

• Loss risk evaluation
• Development
• Administration
• Safety operation
• Loss prevention

The IIA was in operation for 33 years as the only insurance professional organization until 1942 when the American Institute for Property and Liability was established. In 1953 the two institutions decided to merge their operations. They, however, maintained their name as well as their mission for individual professional education. The ALCM program course provides efficient training to those professionals whose duties and responsibilities revolve mainly around loss control. These are individuals who have taken part in continuing education programs that enable them to acquire specific knowledge in hazard identification and risk management. The course provides them with advanced knowledge of how they can handle and manage loss control issues and procedures such as:

• Property and person accidental loss prevention
• Environment compliance and industrial hygiene
• In-depth analysis of the basic principles of risk management and insurance
• Insurance company operations and management

The ALCM program is suitable for those individuals working in the area of loss control such as:

• Managing or conducting insurers loss control activities
• Advising clients in the development
• Implementation of loss controls in conjunction with the insurance agencies
• Brokerage
• Consulting activities
• Controlling their insurance firms accidental losses

Note that most of these individuals have a background in areas such as industrial hygiene, fire protection, engineering, etc.

ALCM Program Requirements

For an applicant to get the ALCM designation title, he or she must successfully pass the five national exams that focus on accident prevention, environmental hygiene, and compliance, loss control, among other relevant topics.

How useful is the ALCM Program?

Individuals with the ALCM designation have competent skills that enable them to:

• Identify potential risks at the workplace
• Implement effective control measures
• Assess the existing risks impact as well as safety measures in the work environment

Loss control management knowledge can also be integrated into the occupation safety standards of the jurisdiction as far as the legislative and regulatory framework is concerned. For instance, a state like California has a requirement that insurers must provide loss control consultation services to employers who fall within a high rate of workers loss compensation bracket.

Related Topics

• Insurance Law (Intro)
• What is insurance?
• Captive Agent
• Independent Agent
• Captive Insurance Company
• Underwriter 
• Combined Ratio
• Claims Adjuster
• Capital at Risk
• Assigned Risk
• Contingency
• Incurred But Not Reported
• Actuary
• Qualified Actuary
• Cession (Re-Insurance)
• Burning Cost Ratio
• What is an insurance contract?
• Accidental Means
• Anti-stacking Provisions
• What is an insurable interest?
• What are the common categorizations of insurance?
• National Association of Insurance Commissioners
• Insurance Regulatory Information System
• American Academy of Actuaries Definition
• American Association of Insurance Services Definition
• American Council of Life Insurance Definition
• American Insurance Association Definition
• American Risk and Insurance Association Definition
• LLoyd's of London
• Associate in Insurance Services (AIS) Definition
• Associate in Loss Control Management Definition
• Associate in Marine Insurance Management Definition
• Associate in Personal Insurance Definition
• Associate in Reinsurance (ARe) Definition
• Associate in Risk Management Definition
• Associate in Commercial Underwriting Definition
• Associate in Insurance Accounting and Finance Definition
• Associate in Surplus Lines Insurance Definition
• Chartered Insurance Professional Definition
• Chartered Life Underwriter Definition
• Chartered Property Casualty Underwriter Definition
• Vehicle insurancePrivate Passenger Auto Insurance Risk Profile
• Underinsured Motorist Coverage
• Uninsured Motorist Coverage
• Omnibus Clause
• Health insurance
  
• Health Maintenance Organization
• Capitated Contract
• Point of Service Plan
• Children's Health Insurance Program
• Disability Insurance?
• Credit Disability Insurance
• Life Insurance?
• Cash Surrender Value
• Absolute Beneficiary
• Acceleration Life Insurance
• Accelerated Benefit
• Accelerated Option
• Accelerative Endowment
• Charitable Gift Life Insurance
• Incontestability Clause
• Waterfall Concept
• Annuitization
• Assumed Interest Rate
• Clean Sheeting
• Hazard Insurance 
• Homeowners, Renters, and Fire Insurance?
• Participating Community (Flood Insurance)
• Insurance Considerations for Business
• Business Liability Insurance
• Commercial General Liability
• Liability Risk Retention Act
• Excess Insurance and Umbrella Insurance Policy
• Business Interruption Insurance
• Key Person Insurance Definition
• Own-Occupation Policy
• Self-Funded Health Insurance Plan
• Basket Retention Policy
• Commercial Blanket Bond
• Alternative Risk Transfer Market Definition
• Commercial Property Casualty Market Index Survey
• What are the primary obligations of the insurer?
• Earned Premium
• Reservation of Rights Letter
• Subrogation
• Collateral Source Rule
• What are the primary obligations of the insured?
• Insurance Premium
• Cooperation Clause
  
• Coinsurance
• Co-Pay
• Affidavit of Loss
• What is the general structure of an insurance contract?
• Ambiguity Principle
• Accommodation Line
• What are the common disputed provisions in an insurance contract?
• Absolute Exclusion
• All Risks Clause
• What is required for the termination of an insurance contract?
• Risk Management
• Professional Risk Manager
• Associate in Management (AIM)
• Financial Risk Manager
• Forecasting (Business)
• Objective Probability
• Unconditional Probability
• Enterprise Risk Management (ERM)
• Operational Risk
• Business Recovery Risk
• Political Risk
• Asset Protection
• Performance Bond
• Barra Risk Factor Analysis Definition
• Above Ground Risk (Mining Industry)
• Bumbershoot Policy (Maritime)
• Abandonment Clause (Boat or Vessel)
• Bobtail Liability Insurance (Trucking Industry)
• Anti-Indemnity Statute (Construction)