Online Underwriting Courses and Classes Overview

Insurance underwriters evaluate the risk of taking on potential clients for insurance providers. If the client is deemed acceptable, the underwriter then writes a policy that is competitive enough to satisfy the customer, while still being lucrative to the insurance provider. General underwriting designations exist, as well as more specific designations in the lines of property and casualty, life and health insurance. Courses leading to these various designations are available online.

Overview of Underwriting Courses Available Online

Underwriters evaluate the risk associated with insuring potential clients against financial loss and determine whether a competitive policy that is beneficial to the policy holder while still being lucrative for the insuring company can be devised. If so, underwriters write the outlined policy and determine its specific terms. Underwriters generally hold bachelor's degrees, frequently with a business or finance focus. Additionally, they should expect to pursue continuing education opportunities throughout their careers in order to keep abreast of a field whose demands shift rapidly to adjust to changes in both regulations and risk-assessment technologies.
The American Institute for Commercial Property and Casualty Underwriters (AICPCU) and The American College provide designations in underwriting that include Associate Designation in Underwriting (AU), Chartered Property and Casualty Underwriter (CPCU), Life Underwriter Training Council Fellow (LUTCF), Chartered Life Underwriter (CLU) and Registered Health Underwriter (RHU). Coursework required to complete these designations varies in composition and length, but all have offerings available online. In addition to coursework and exams, some designations have requirements of experience and adherence to ethics codes.

Course Requirements

Online courses in underwriting require regular high-speed Internet access and a personal e-mail account. Most are delivered through interactive courseware systems that require an up-to-date operating system and processor, enough available RAM and a sound card with speakers. Specific screen resolutions and browser settings may also be recommended. Commonly needed software includes Microsoft Word and Adobe Reader. Some courses require weekly calls to participate in live instructor-led courses, so a line with free long distance or a calling card is recommended.

List of Online Underwriting Courses

Commercial Underwriting Basics Course

This is an intermediate course taken on the path to AU designation. Students learn about the fundamentals of underwriting and pricing insurance products for commercial organizations. Issues for assessment discussed include building construction, disaster potential, occupancy and fire hazards, indirect loss and commercial crime insurance.

Commercial Liability Insurance Course

This is an advanced-level course on commercial liability that counts toward AU or CPCU designation. It provides participants with tools for helping businesses reduce exposure to financial loss and manage everyday risks. Types of liability loss exposures and insurance policies covered include general liability, business auto, worker's compensation, management, professional and aviation.

Commercial Insurance and the Law Course

This intermediate-level course counting toward CPCU designation covers issues relevant to U.S. law and insurance regulation, as well as insurance law and contracts formation. It considers consumer, property, tort, agency and employment law. Insurance laws as they apply to various business entities and multinational corporations are also addressed.

Life Insurance Basics Course

This is a required course toward LUTCF designation. It cover the two types of life insurance available - term and whole life - and the variety of products the industry offers for each. Also considered are the different ways individual consumers, families and businesses use these products, as well as the ethical issues faced by the insurance counselor.

Insurance and Financial Planning Course

This intermediate-level course toward CLU designation focuses on the importance of risk management and personal financial planning in the areas of investing, preparing for retirement and estate planning. Factors affecting consumers' choices and options are discussed, along with techniques and tools for selecting products that best meet their needs.

Group Health Insurance Course

This course toward RHU designation provides an overview of group health insurance benefits. Perspectives of the insurance provider, customer, employer and nation as a whole are considered. Additionally, health care reform and state and federal laws are discussed in terms of their influence on both traditional and managed health care plans.