CPCU Certification Changes Announced

Copyright 2009 The National Underwriter Company All Rights Reserved Florida Underwriter's Magazine

November 2009

NATIONAL NOTES; Pg. 29 Vol. 26 No. 11

570 words

CPCU Certification Changes Announced

The American Institute for CPCU and the Insurance Institute of America have made substantial changes to the Chartered Property Casualty Underwriter (CPCU) program.

Effective immediately, the CPCU experience requirement is decreasing from three years to two years. The new two-year experience requirement applies to all CPCU students and candidates who qualify for the class of 2010 and beyond, regardless of when the individual started in the program.

Exams for certain courses will change from short essay to an objective format beginning with the Jan. 15-March 15, 2010, testing window. The exams listed below will consist of 85 to 100 questions; allotted completion time will be three hours.

CPCU 520: Insurance Operations, Regulation, and Statutory Accounting

CPCU 530: The Legal Environment of Insurance

CPCU 540: Finance for Risk Management and Insurance Professionals CSC on the Move

At its annual client conference recently, CSC reported that it has defined more than 60 potential applications for all mobile platforms to help carriers communicate and exchange information to benefit agents and consumers. These mobility solutions encompass mobile software applications and consulting and management services to help insurers plan, build, and manage their wireless communication processes.

One product -- mobile access to the CSC business-to-business insurance social networking site WikonnecT -- increases collaboration among the 10,000 current WikonnecT community members. Another application, designed for clients of CSC's policy administration system, enables customers to upload accident scene photographs for faster claim handling. Another provides insurance executives with access to analytical dashboards displaying critical business information anytime, anywhere.

Headquartered in Falls Church, Va., CSC has approximately 92,000 employees and reported revenue of $16.2 billion for the 12 months ending July 3, 2009. More information is available at www.csc.com. Reinsurers Unite

Eleven top reinsurers have established the Global Reinsurance Forum (GRF) to lobby decision makers on matters affecting the reinsurance industry worldwide. Founding members are CEOs/chairmen from Gen Re, Hannover Re, Lloyd's, Munich Re, Partner Re, RGA, Scor, Swiss Re, Toa Re, Transatlantic Re and XL Capital. Denis Kessler, CEO of Scor, will be the group's initial chair. Court Finds for USAA

The Mississippi Supreme Court recently issued a unanimous decision in Corban v. USAA, settling legal issues surrounding Hurricane Katrina claims in Mississippi, according to a media release from USAA. USAA noted that in its ruling, the court:

Endorsed USAA's claim-handling policy in Hurricane Katrina. USAA paid for damage caused solely by wind but did not pay for damage caused by storm surge.

Affirmed USAA's legal argument that a jury should decide what losses, if any, were caused by wind, and what losses, if any, were caused by flood.

Found that the water-damage exclusion in USAA's homeowners' policy clearly excludes storm surge.

Rejected the plaintiffs' argument that the homeowners' policy covers all damage caused by a hurricane, regardless of the cause.

USAA said it already paid the Corbans for damage caused solely by wind and for damages covered by their flood policy. This ruling allows the case to go to trial so a jury can determine if any additional damage was caused to the Corban's home by wind rather than by water/storm surge.

October 29, 2009