DEFINITION of 'Chartered Property Casualty Underwriter (CPCU)'. A professional credential earned by individuals who specialize in risk management and property-casualty insurance. The Chartered Property Casualty Underwriter, also called CPCU, credential is most likely to be earned by insurance agents and brokers, insurance claims representatives, risk managers, and underwriters. It is offered by the American Institute For Chartered Property Casualty Underwriters. Next Up.