Pursuant to the Society’s Bylaws, the Society of Risk Management Consultants (SRMC) has established the following categories of membership: Full Member, Associate Member, Lifetime Member, Honorary Member, International Member and Firm Member.
The purpose of this document is to set forth General Qualifications which are required for persons to be eligible for any of the categories of membership, and Specific Qualifications for each individual category of membership.
FULL, ASSOCIATE, LIFETIME, HONORARY AND INTERNATIONAL MEMBERS
GENERAL QUALIFICATIONS – INDIVIDUAL MEMBERS OTHER THAN HONORARY
The General Qualifications for Full, Associate, Lifetime and International Members are set forth in Subsection 2.2.1 of the Bylaws. Subsection 2.2.1 provides that:
“Each applicant for admission as a member, other than as an honorary member, of the Society
must establish to the satisfaction of the Membership Committee and the Board of Directors that:
a) The applicant and the applicant’s firm, if the applicant works for a firm, have satisfactory moral and ethical standing in the professional field of risk management.
b) The applicant and the applicant’s firm, if the applicant works for a firm, fully subscribe to and abide by the Society’s Code of Ethics.
c) The applicant is an individual engaged in risk management consulting as defined in this Section (except with respect to an applicant for a lifetime membership or an academician), who devotes at least 50% of the individual’s normal working time to the risk management consulting practice or management of a risk management consulting firm and who meets all other requirements for membership.
d) The applicant shall not be an employee of an insurance company, insurance agent, or insurance broker.
e) Risk management consulting is defined as a profession whose practitioners’ sole consulting remuneration is client fees and whose practitioners objectively:
(1) Identify and analyze a broad range of client risks and techniques for their management. Work may or may not extend to monitoring results or managing the risk function for the client; and/or
(2) Advise on risk control or risk financing methods and programs; and/or
(3) Evaluate client risk management administration; and/or
(4) Engage in expert witness work related to risk management and insurance issues; and/or
(5) Engage in teaching insurance and risk management courses in a college or university and spend at least 10% of their time in consulting or research for clients in areas of risk management and/or insurance; and/or
(6) Engage in claims management consulting, other than those engaged in claims adjustment.
f) The applicant and applicant’s firm, if the applicant works for a firm, meet such other criteria as set forth in the Requirements for Membership, as amended from time to time by the Board of Directors and ratified by a vote of two-thirds of the members present at any regular meeting or at any special meeting if notice of such proposed action has been included in the notice of such special meeting.”
In addition to the specific requirements set forth in Subsection 2.2.1, pursuant to Paragraph (f) of Subsection 2.2.1 the Board of Directors has established the following requirements for applicants for Full, Associate, Lifetime and International membership:
a) A Bachelor’s Degree from an accredited college or university; or
b) A CPCU, AIIC, CIP, CLU or CEBS designation or the international equivalent thereof and at least five (5) years work experience in risk management consulting, the insurance industry or in a profession deemed acceptable by the Membership Committee; or
c) At least ten (10) years work experience in risk management consulting, the insurance industry or a profession deemed acceptable by the Membership Committee.
In addition, applicants for Full or Associate Membership must be properly licensed in their state of domicile. Applicants for International Membership must comply with those national, regional and/or local regulatory requirements established for their country of domicile.
No applicant who is currently receiving commissions, or whose firm is currently receiving commissions, for the sale or service of any insurance related product or service, will be admitted to the Society.
Subject only to the exceptions and conditions set forth in the following paragraphs (a) and (b), no applicant to be a Full Member, Associate Member, Lifetime Member or International Member shall be recommended to the membership for acceptance subject to any contingency:
a) Attendance at conference – An applicant who has not yet attended the required conference, may be recommended for acceptance to the membership subject to the applicant’s attendance at one of the next two conferences that immediately follow the applicant’s election at the membership meeting. Failure to attend one of the next two conferences which immediately follow the applicant’s election at the membership meeting will obligate the applicant to reapply for membership.
An applicant who is elected subject to the conference attendance requirement is not a member until the requirement is satisfied.
At the Executive Committee’s discretion, the time to comply with this requirement may be increased for firm members with multiple applicants.
b) Changes in Advertising – An applicant who, with the exception of the use, by the applicant or the applicant’s firm, of an unacceptable brochure, web site or other advertising documents, otherwise qualifies for such membership may, subject to the following requirements, be recommended for acceptance to the membership:
(1) The Board of Directors, after reviewing the unacceptable advertising, must find the nature of the non-compliance to be such that a temporary continuation of its use would be acceptable; and
(2) The applicant and the applicant’s firm must, prior to being recommended by the Membership Committee, by written agreement with the Society acknowledge and agree that the applicant’s acceptance as a member and continued qualification as a member is subject to:
(i) discontinuance of the unacceptable advertising within a time limit (not to exceed six months) established by the Membership Committee, and
(ii) that the applicant shall report to the Membership Committee within the time limit specified that the use of the unacceptable advertising has been discontinued and that the applicant believes that any replacement or subsequent advertising fully comply with the Society’s Code of Ethics.
An applicant who is elected subject to the advertising contingency is a member upon election, but must discontinue or revise the advertising within the prescribed time frame.
SPECIFIC REQUIREMENTS – FULL MEMBER
In addition to meeting the General Qualifications, to be eligible to become a Full Member of the Society, an applicant must have five years or more of acceptable public practice in risk management consulting, including two years of major responsibility and client contact in consulting assignments. Three of the five years and the two years of major client responsibility in consulting assignments must have immediately preceded the date of application.
The Board of Directors may accept five years of experience in a risk management related field as a substitute for two years of risk management consulting, but such substitute experience shall not apply to the three year time period which precedes the date of application.
Prior to being elected as a Full Member, each applicant must have attended at least one annual or semiannual Society conference.
SPECIFIC REQUIREMENTS – ASSOCIATE MEMBER
In addition to meeting the General Qualifications to be eligible to become an Associate Member of the Society, an applicant must have two years or more of acceptable public practice in risk management consulting, including one year of major responsibility and client contact in consulting assignments, immediately preceding the date of application.
Prior to being elected as an Associate Member, each applicant must have attended at least one annual or semiannual Society conference.
Upon attaining the requisite experience to qualify as a Full Member, an Associate Member in good standing shall be deemed to be a Full Member without any further action necessary by the Membership Committee, the Board of Directors or the membership.
SPECIFIC REQUIREMENTS – LIFETIME MEMBER
Pursuant to Subsection 2.1.3 of the bylaws, in order to qualify as a Lifetime Member, except for the individual’s no longer devoting at least 50 percent of the individual’s working time engaged in the practice or administration of risk management consulting, the individual must meet all of the requirements established in, or pursuant to, Subsection 2.2.1. In addition, in order to qualify as a Lifetime Member, the individual must have been a member of the Society (or one of its predecessor organizations, ICS or IRMC) for at least ten consecutive years immediately preceding the individual’s nomination for election as a Lifetime Member.
The General Qualifications for Honorary Members are set forth in Subsection 2.2.2 of the bylaws. Subsection 2.2.2 provides that:
“Except with respect to those individuals elected as honorary members prior to October 1, 1993, who shall be deemed to be honorary members, each applicant for admission as a member of the Society as an honorary member must:
a) Have exemplary moral and ethical standing in the professional field of risk management;
b) Have made outstanding contributions to the practice of risk management; and
c) Meet such other criteria as set forth in the Requirements for Membership, as amended from time to time by the Board of Directors and ratified by a vote of two-thirds of the members present at any regular meeting or at any special meeting if notice of such proposed action has been included in the notice of such special meeting.”
SPECIFIC REQUIREMENTS – HONORARY MEMBER
A Full Member, a Lifetime Member, an International Member or an Associate Member must initiate the evaluation process by sponsoring an Honorary Member applicant.
In addition to meeting the General Qualifications, to be eligible to become an Honorary Member of the Society, a sponsored Honorary Member applicant shall:
a) Have at least ten (10) years of work experience in risk management, insurance or a profession deemed to be acceptable by the Membership Committee;
b) Be generally perceived as an expert or leader in his/her chosen field (comments of colleagues would be important to the evaluation process); and
c) Not currently be an agent, broker, insurance company employee or a service provider; e.g., a TPA, actuary, etc. (prior experience in these positions will be acknowledged in the evaluation process).
The Eligibility for Firm Members is set forth in Subsection 2.1.6 of the bylaws. Subsection 2.1.6 provides that:
“In order to qualify as a firm member, an applicant must have at least one individual full member, associate member or international member in good standing. A firm member membership is automatically terminated if the firm member does not include and continuously maintain at least one membership pursuant to Subsection 2.1.1, 2.1.2 or 2.1.5.”
The General Qualifications for Firm Members are set forth in Subsection 2.2.3 of the bylaws. Subsection 2.2.3 provides that:
“A firm shall not qualify for membership without an individual member of one of the classes set forth in Subsection 2.1.1, 2.1.2 or 2.1.5 above, but the firm may apply for membership simultaneously with the first individual member applicant for membership. Qualification for firm membership does not entitle any individual employed consultant to automatic membership. A firm must apply for firm membership when an individual of that firm becomes a member, but not all individuals of a firm member, or firm membership applicant, who provides consulting services must apply for membership.”