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Emily Ruch

Emily Ruch
Executive Assistant

Telephone: 317.876.4299
eruch@namic.org

FMDC | Frequently Asked Questions

What is the FMDC program?
In 2007, NAMIC introduced a director certification program designed for farm mutual directors. The Farm Mutual Director Certification (FMDC) Program encourages and formally recognizes the educational accomplishments and dedication to professionalism of farm mutual directors. The certification is earned through participation in a series of director courses. Courses are offered throughout the year by state associations and NAMIC.

What are the benefits of the FMDC designation?
Professional development and networking opportunities with fellow farm mutual directors is the primary benefit of the designation, which in turn should provide resources and information for improved company operations and more effective boards. Direct benefits of the program include:

  • Recognition in the mutual industry as a certified farm mutual director
  • Opportunity to attend an invitation-only event at NAMIC’s Annual Convention for enhanced networking with fellow FMDC-certified directors ($25 value)
  • Discounted registration for NAMIC’s Annual Convention ($25 value)
  • Opportunity to interact with an elite segment of the mutual insurance industry committed to professionalism

Does earning my FMDC certification qualify my company for a discount on professional liability insurance premiums?
NAMIC is pleased to be partnered with NAMIC Insurance Company (NAMICO) on this program. With any insurance policy, a variety of underwriting criteria and factors must be considered when establishing rates. NAMICO has agreed to provide benefits to companies who demonstrate a commitment to ongoing professional education of board members; therefore, if at least 75% of your board is actively enrolled, you may be eligible for a discount of up to 10% on your NAMICO Directors & Officers liability insurance. NAMIC will provide information twice yearly on individuals enrolled in the program and a summary by company of individual director’s achievement towards certification. It is the responsibility of the company manager to inquire with NAMICO and/or NAMIC Insurance Agency if this information has been applied at the time of renewal. Accuracy of transcripts is important to that communication and any issues or corrections to transcripts should be discussed with NAMIC’s FMDC Administrator.

How do I enroll?
To enroll, mail in a completed application form along with a check for the $25 application fee to NAMIC (address is provided on the form).

What ongoing fees are associated with the program?
A $35 annual administrative fee is charged to all active enrollees and certificate holders. This fee is billed directly to your company in the last quarter of each calendar year. Registration fees for coursework will vary based on the venue, host organization, and number of courses being offered.

Program participants, certified or pursuing certification, whose annual active participant fees have not been paid by the due date stated on the invoice will have their status changed to “suspended” and NAMIC will no longer track their coursework. Status may be returned to "active" once payment of annual active participant fees are received.

Why isn’t this program free? Don’t my NAMIC dues pay for it?
Dues paid to NAMIC are used to fund the core services of the association (advocacy and public policy). Programs such as FMDC are not subsidized by dues, but are paid for by those who use them. This is a fundamental difference in how NAMIC operates – since many associations include all services as part of dues. NAMIC finds this operational difference is a key reason why so many members tell us that NAMIC is one of the best association values in the industry. The advocacy work NAMIC does on behalf of members and the industry is a benefit to all; the other services typically have benefit to an individual and/or company only.

How do I attain the FMDC designation?
To attain an FMDC designation, an individual must:

  • Complete an application and submit a $25 application fee
  • Be an active, voting director of a farm mutual company at the time of completion
  • Attend four courses from each module within five years of enrollment

Management

Operations and Insurance

Finance and Accounting

Corporate Governance for Mutuals

Insurance Regulatory Environment

Understanding and Analyzing Financial Statements

Role of Board

Insurance Company Operations

Investment Perspective

Succession Planning

Underwriting

Insurance-specific Performance Metrics (scorecard)

Strategic Business Planning

Claims

Insurance Accounting

Board Evaluation

Reinsurance

Mergers/Consolidations– Financial Implications

Mergers/Consolidations

Marketing

Board's Role in Strategic Planning/Establishing Financial Goals

Board Meeting Procedures

Evaluating New Business

Understanding the Audit Committee Role

Directors and Officers Liability

Organizational Risk Management

Financial Implications and Impact of Defined Benefit Plans

When and where are courses offered?
The certification is earned through participation in a series of director courses. Courses are offered throughout the year by host organizations and NAMIC. A list of upcoming courses is available through NAMIC Online.

I received a copy of my transcript, and noticed an error or omission. What should I do?
Individual records are maintained by NAMIC and this is part of the administration fee paid to NAMIC annually. While NAMIC makes every effort to maintain accurate records, candidates are responsible for reporting discrepancies immediately upon discovery. If you notice an error on your transcript, please send an e-mail to fmdc@namic.org. We recommend you keep a receipt or some documentation of the courses you attended through host organizations and NAMIC. A copy of the agenda and a receipt of your participation will assist us in giving you the proper credit for each of the courses. Documentation can be mailed, faxed, or emailed to the FMDC Administrator.

FMDC Administrator
3601 Vincennes Road
Indianapolis, IN 46268
Fax: (317) 879-8408
Email: fmdc@namic.org

How do I maintain my certification?
To maintain the designation, a director must complete at least four hours of coursework every two years. A director may choose from any of the three modules to complete the necessary hours but it must be four different courses for full credit to be given.

Why did I receive a letter stating I’m in “suspended” status and how do I return to “active” status?: Program participants, certified or pursuing certification, whose annual active participant fees have not been paid by the due date stated on the invoice will have their status changed to “suspended” and NAMIC will no longer track their coursework. Status will returned to “active” once the participant pays their annual fee. Also, if a certified participant does not complete the required four continuing education courses every 24 months, their status will be changed to “suspended.” Please complete this Reinstatement Form and mail or email it to the Certification Administrator. See contact information above. Once the form has been processed and approved, you will receive an updated transcript and your status will be returned to “active.”

How do I decipher the continuing education courses on my transcript?: We are working to improve the usability of the transcript, but in the meantime, use this document, “Deciphering CE Courses,” to determine what courses have been applied to the extension of your certification and how many continuing education courses you still need.

Grace P eriod: Certified directors who believe they will not complete the required four hours of maintenance coursework within the expected two-year time frame, or whose maintenance has lapsed by less than 12 months, may contact the FMDC administrator to request a one-time grace period. Annual participation fees must be paid to bring the director current and the necessary four courses must be completed within twelve months from when the grace period is requested. If the required four courses are not met in that twelve-month grace period, the director will be marked inactive and will need to re-enroll and complete the necessary course work to become certified.

Posted: Thursday, June 02, 2011 9:59:05 AM. Modified: Friday, October 04, 2013 9:41:53 AM.

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