Unit of competency Outline

Date retreived
23/07/2026 12:56 AM AWST

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Survey potential risk exposure

Survey potential risk exposure

Unit of competency
National Code
FNSISV403
State Code
AUR96
TGA Status
Replaced
DTWD Status
Replaced
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
100
Description
This unit describes the skills and knowledge required to survey risk exposure, including examination of risk, analysis of data, reporting and making recommendations specifying loss control measures.It applies to individuals in underwriting roles in a range of insurance sectors and may be applied within organisations of various sizes and across a range of client 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. Determine hazards and exposures
  • 1.1 Undertake comprehensive physical examination of risk, including hazard indicators
  • 1.2 Interview client and relevant third parties to identify potential risk components
2. Analyse level of hazards and exposures
  • 2.1 Assess risk type against known exposure factors
  • 2.2 Assess risk type for compliance with relevant legislation and organisational policy
  • 2.3 Determine acceptability of risk within organisation’s underwriting requirements
  • 2.4 Estimate maximum probable loss, where applicable
3. Report and recommend on condition of risk exposure
  • 3.1 Document condition and improvements according to organisational policy and procedures
  • 3.2 Specify and apply loss control measures as condition of risk acceptance and determination of renewal
4. Monitor and review loss control measures
  • 4.1 Follow up loss control measures and record according to organisational policy and procedures
  • 4.2 Monitor risk improvement against loss control measures
  • 4.3 Conduct follow up risk surveys as required
No information
No information
Replaces
State Code National Code Title Type
D4235 FNSISV403A Survey potential risk exposure Unit of competency
Replaced By
State Code National Code Title Type
OCZ65 FNSISV413 Survey potential risk exposure Unit of competency