FMDC credits are earned on a course-by course basis. In order to earn the FMDC designation, you must complete all six core courses and six elective courses (a total of 12 credit hours) within five years. Courses may be taken in any order.
Core courses have been designed to include learning objectives most pertinent to the role of a mutual insurance company board member. The following courses are required to earn the FMDC designation.
FINANCE & ACCOUNTING
Insurance Accounting and Investment Management
Insurance Audits and Basics of Actuarial Work
MANAGEMENT
Corporate Governance and Role of the Board
The Board’s Role in Planning
OPERATIONS & INSURANCE
Insurance Company Operations and Reinsurance
Enterprise Risk Management and Evaluating Company Growth
Elective courses provide additional information on any number of mutual insurance related topics. To earn the FMDC certification, individuals must complete two of the following elective courses from each module.