Unit of competency Outline

Date retreived
23/07/2026 10:24 AM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Issue insurance contracts covering non-routine and complex situations

Issue insurance contracts covering non-routine and complex situations

Unit of competency
National Code
FNSISV531
State Code
OCZ64
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
02/02/2021
View on TGA
State Implementation and Classification
Approved Date
22/04/2021
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
22/04/2021
Nominal Hours
50
Description
This unit describes the skills and knowledge required to undertake processes related to issuing an insurance contract in non-routine and complex situations. It includes identifying the necessary information and issuing a new policy or contract of insurance in response to requests for quotes, new policies or interim cover (cover note) in non-routine and complex situations.The unit applies to those working in job roles with specialist knowledge and functions, such as insurance brokers or agents, in a range of insurance sectors in 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. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
Notes
Elements and Performance Criteria
1. Identify non-routine and complex aspects, and clarify client situation
  • 1.1 Identify non-routine and complex aspects of client requirements
  • 1.2 Elicit required information from client according to organisational procedures
  • 1.3 Consult specialists on non-routine and complex aspects of the client’s situation where required
  • 1.4 Apply requirements to non-routine and complex situations that make risk acceptable
  • 1.5 Verify risk information advised by client
  • 1.6 Implement survey requirements as required
2. Determine approach
  • 2.1 Assess and interpret required parameters to determine organisation’s approach
  • 2.2 Consult specialists within and outside organisation as required
  • 2.3 Determine terms and conditions of contract and premiums according to organisational policies and procedures
  • 2.4 Refer request to escalation point as required according to organisational policies and procedures
3. Finalise insurance contract
  • 3.1 Identify any special aspects of policy and notify client
  • 3.2 Decline unacceptable request where applicable under law, inform client and provide reasons
  • 3.3 Complete required calculations and contract documentation, and confirm compliance with organisational procedures and legislative requirements
  • 3.4 Check documentation for accuracy and omissions according to organisational procedures for non-routine, complex contracts
  • 3.5 Issue cover note, quote or new insurance policy according to organisational procedures, and despatch to client
No information
No information
Replaces
State Code National Code Title Type
AUR99 FNSISV501 Issue contracts of insurance covering non-routine and complex situations Unit of competency