Unit of competency Outline

Date retreived
22/07/2026 4:25 PM AWST

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Issue contract of insurance

Issue contract of insurance

Unit of competency
National Code
FNSISV303
State Code
AUR94
TGA Status
Deleted
DTWD Status
Deleted
Current Release Number
1.00
Current Release Date
25/03/2015
View on TGA
State Implementation and Classification
Approved Date
16/09/2015
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
16/09/2015
Nominal Hours
20
Description
This unit describes the skills and knowledge required to gather necessary information and issue a new policy or contract of insurance in response to requests for quotes, new policies or interim cover (cover note) in standard situations. It also covers cancelling a policy at the customer’s request.It applies to individuals carrying out insurance broking roles in a range of insurance sectors within organisations of various sizes and across a range of customer bases.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Identify and clarify customer’s request
  • 1.1 Identify customer’s requirements
  • 1.2 Elicit all necessary information from customer
  • 1.3 Gather data on insurance proposal within timelines required by organisation
  • 1.4 Apply underwriter’s terms and conditions
  • 1.5 Verify risk information advised by customer
  • 1.6 Implement survey requirements, if applicable
2. Issue insurance contact
  • 2.1 Specify terms and conditions of contract in line with organisational guidelines, policy and procedures
  • 2.2 Refer decision to appropriate person if request falls outside organisational guidelines
  • 2.3 Complete and review contract documentation to ensure it meets legislative requirements
  • 2.4 Check contract for accuracy and omissions according to operating procedures
  • 2.5 Issue cover note, quote or new insurance contract following organisational operating procedures, and despatch to customer
  • 2.6 File contract documentation accurately in accordance with operating procedures
  • 2.7 Cancel policy and despatch documentation to customer, if requested by customer
No information
No information
Replaces
State Code National Code Title Type
D4225 FNSISV303A Issue contract of insurance Unit of competency
State Code National Code Title Type
AVZ8 FNS30515 Certificate III in General Insurance Qualification