Celebrating 10 years! 2007-2017

CPCU Designation

Posted about this last year, but at the time was posting fro jd4hire03/16/17
sounds like a good idea. Bring it up to the partners in you dingbat03/16/17
I don't know if it's worth it. Will your firm pay for the c wutwutwut03/16/17
Bumping this thread. 2nd year attorney at a large insurance goorange88807/24/17
Yes, CPCU is respected at P&C home offices. Not portable, b doublefriedchicken07/24/17
I'm not sure how it helps unless you're doing coverage work. yytd07/24/17
My thinking is that for what I am doing now, ID for a large goorange88807/24/17
I started this thread and am still working towards mine. Yo jd4hire07/24/17
I heard that the "big daddy" study materials are extremely h goorange88807/26/17
I think this will make you more marketable. I know my firm jd4hire07/26/17
Since I am getting reimbursed, I am most likely going to obt goorange88807/30/17
I'm going from very old memory here, so if anyone contradict wutwutwut07/30/17
It definitely helps in the sense that insurance companies wi Guest07/24/17
I have known many property-casualty insurance claims persons legalace07/24/17
That's odd. I've worked in two ID firms and staff counsel, jd4hire07/26/17
I work for a large carrier as staff counsel in no fault/auto associatex08/06/17
jd4hire (Mar 16, 2017 - 10:07 am)

Posted about this last year, but at the time was posting from the perspective of a staff counsel attorney for a large carrier.

I am still interested and curious what benefits, if any, obtaining my CPCU designation would bring. I work for an ~ 30 attorney firm with three office locations. Insurance defense is our bread and butter with the vast majority being medical.

My thought was that by obtaining the CPCU designation, I could join the society and start mingling with the adjusters/ claims managers in my area in an effort to obtain business. I really want to start building a book of business to further me towards partner, provide job security, and provide the means to go out on my own if necessary.

Anybody out there with experience obtaining your CPCU, or know others that have done so?

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dingbat (Mar 16, 2017 - 1:09 pm)

sounds like a good idea. Bring it up to the partners in your firm and see if they agree enough to pay for it - and to give you credit for the time it takes to obtain the designation.

I'm not entirely sure if a society for underwriters makes that much sense, though; a society for claims adjusters would seem much more appropriate.

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wutwutwut (Mar 16, 2017 - 11:11 am)

I don't know if it's worth it. Will your firm pay for the courses? If so, what's the harm? If not, you'd be 6K or so out-of-pocket, right?

Most of the CPCU's I know are either actual underwriters or agents. Do the adjusters you run into have their CPCU? And even if they did, are they good leads for business? (I would not think so, but admit I could be completely wrong here.)

Finally, will your firm pay for you to go to the ceremony when your CPCU is conferred? Drag your feet just right as to when you pass the last course, and hit the one in Hawaii or Vegas, though, not the one in Orlando. :-)

Any thoughts on going in-house? If so, just a SWAG, but I'd think it'd be a real feather in your hat.

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goorange888 (Jul 24, 2017 - 10:14 am)

Bumping this thread. 2nd year attorney at a large insurance carrier that is willing to pay for the CPCU courses. Do you think it would help my career options down the line? Especially if I wanted to incorporate some coverage work into my future career plans.

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doublefriedchicken (Jul 24, 2017 - 11:01 am)

Yes, CPCU is respected at P&C home offices. Not portable, but what is?

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yytd (Jul 24, 2017 - 11:36 am)

I'm not sure how it helps unless you're doing coverage work.

I don't think you walk into a conference, slap the CPCU designation on the table and they swoon. Because I've been an adjuster at those conferences - DRI in NY. I just adjusted at just one company, but it didn't factor into what we thought of defense counsel.

Now if there was a coverage issue, then we liked it. But it's hard to just get your CPCU and then get a coverage case.

So I don't think it has value

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goorange888 (Jul 24, 2017 - 12:03 pm)

My thinking is that for what I am doing now, ID for a large carrier, it probably does not help that much. Similar to if I lateraled to an actual ID firm, my thinking is it would not be that beneficial. However, if I'm trying to get my foot in the door in a firm's insurance coverage practice area, one would think it would be beneficial, right?

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jd4hire (Jul 24, 2017 - 12:39 pm)

I started this thread and am still working towards mine. You have nothing to lose from it. The classes stink, but do provide helpful information.

Beyond that, I've already gone to a meeting of my local CPCU chapter which is filled with individuals from carriers. I've met many who I previously did not know at all.

It has not provided a material benefit to me at this point, but I don't think it is a waste. Time will tell, but if it is all expense paid, I think it would be wise to avail yourself of the course.

And IMO, it's not limited to coverage at all. It provides a lot of information applicable to all sorts of insurance work, not just litigation either. Of course, I'm only on my second course.

If you come across helpful study pointers or have any resources to share, I'm game.

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goorange888 (Jul 26, 2017 - 9:28 am)

I heard that the "big daddy" study materials are extremely helpful, so I will probably end up buying those if I end up pursuing this. My hope was that I could complete all the exams within a year, but we shall see.

As an aside, I was just hoping that this would make me more marketable to mid size ID/coverage firms. As staff counsel, my practice area is pretty limited to auto/PD cases, so I just want to leave here in a year or two with some options.

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jd4hire (Jul 26, 2017 - 12:18 pm)

I think this will make you more marketable. I know my firm is supportive of me obtaining mine. They generally knew what it was, but thought it was a great angle.

We shall see. I'm also hopeful that it could open the door to risk management/ director of litigation type of positions whether it be with a carrier or with a large corporate entity.

My end game is to get away from the billable hour. I just can't stand it.

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goorange888 (Jul 30, 2017 - 6:54 pm)

Since I am getting reimbursed, I am most likely going to obtain it. If I don't take classes, and I just self-study, do you think I can finish the entire thing in 6 months or so?

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wutwutwut (Jul 30, 2017 - 8:21 pm)

I'm going from very old memory here, so if anyone contradicts me, go with what they say. But my recollection is that based on the test schedules, there's no way to jam the whole thing through in less than about 30 months.

Like I said, though, I'm going on old memories plus the current state of affairs may differ significantly.

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Guest (Jul 24, 2017 - 1:24 pm)

It definitely helps in the sense that insurance companies will take you more seriously in hiring and promotion, even if you want to do something non-law related in insurance down the line. I think it's a no-brainer if your employer is paying.

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legalace (Jul 24, 2017 - 9:14 pm)

I have known many property-casualty insurance claims persons, but I have never met one who has a CPCU.

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jd4hire (Jul 26, 2017 - 12:17 pm)

That's odd. I've worked in two ID firms and staff counsel, and have routinely bumped into CPCUs. My aunt was previously an adjuster and encouraged me to obtain it, my brother in law sells insurance and he is working towards his, and my uncle was previously in the corporate law department overseeing regions of staff counsel offices and he implored me to get it.

Don't get me wrong though, tons don't have it. The more upper level reps/ managers tend to. And if not, they certainly know what it is.

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associatex (Aug 6, 2017 - 2:41 am)

I work for a large carrier as staff counsel in no fault/auto. Been here almost 10 years and thought of getting CPCU but now thinking its not worth it
. Both my bosses already got their CPCU designation (both are Managing Counsel and Asst Manag. counsel) and both did it in less than 2 years (average time was 1.5 years). They said it was useful from a business standpoint and they understand underwriting better, but both clearly wont be doing coverage work (as both have no experience outside No Fault/Auto). Its more akin to bragging about being admiited to the US Supreme Court when 90% of your cases are in State court.

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