Deciphering the designation: CIC
The CIC designation is one of the most prestigious in the insurance industry.
Editor’s note: This column is part of PropertyCasualty360’s Foundations of P&C Insurance series, which aims to bring new insurance professionals up to speed, while keeping industry veterans sharp. On Fridays, PC360 will offer up fresh content covering the nitty-gritty details of P&C insurance, tips for professional development, articles looking at the industry’s more niche concepts, and the history of certain lines and programs.
In addition to licensing itself, ongoing education is imperative in today’s insurance industry. Professional designations serve as a way to highlight the advanced knowledge of insurance professionals who have chosen to further their expertise to others in the industry.
The CIC – Certified Insurance Counselor – designation began as an attempt to help agents better understand Texas policies in 1969 and has since grown into one of the most respected insurance designations nationwide.
CIC is one of the most advanced designations issued by the National Alliance for Insurance Education and Research, and it also happens to be one of the most prestigious; with fewer than 32,000 CICs in the United States.
This designation is designed for a variety of insurance professionals, including agency owners, producers, agents, CSRs, brokers and insurance company personnel. However, the National Alliance specifically recommends it for licensed agents, brokers and adjusters; insurance professionals with at least two years of full-time insurance or risk management experience; and full-time insurance faculty members who have taught for at least two years at an accredited college or university.
The CIC education path includes courses spanning several areas of the insurance industry, including:
- Agency management
- Commercial casualty
- Commercial multiline
- Commercial property
- Personal lines
- Life and health
- Insurance company operations
Candidates must complete five CIC courses and pass five exams within five calendar years. To earn the designation they must score at least 70% on a two-hour essay-style exam. CICs must complete one qualifying continuing education course each year to maintain the designation, but no further examinations are required.
According to the National Alliance, benefits of earning the CIC designation include:
- The ability to apply technical expertise to actual, relevant events and case studies, as the courses are taught by active insurance practitioners using real-world scenarios.
- A more thorough understanding of complex exposures which allows CICs to better serve clients and manage risks.
- Having a CIC in your agency can help reduce errors and omissions, as the coursework includes discussions on how to mitigate E&O claims.
- CICs can help educate and assist their less-experienced peers.
- CICs may see more opportunities to grow their book thanks to the designation’s respectable reputation.