Unit of competency Outline

Date retreived
22/07/2026 12:45 PM 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.

Report findings and provide guidance to involved parties

Report findings and provide guidance to involved parties

Unit of competency
National Code
FNSILA503
State Code
AUR63
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
80
Description
This unit describes the skills and knowledge required to report on loss investigation findings and provide guidance and information to involved parties on issues such as recovery, subrogation and legal positions.It applies to individuals who are employed in the loss adjusting sector and who use specialised knowledge and systematic approaches to prepare and present information and communicate effectively with clients. It may be applied 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. Report findings
  • 1.1 Document relevant evidence, facts and information gathered during investigative activities, and prepare and promptly forward reports to all involved parties
  • 1.2 Prepare reports thoroughly, accurately and in professional format according to client or organisational policy and guidelines, relevant legislation or codes of practice
  • 1.3 Periodically update documented reports to accurately reflect current status of investigation and to identify range of options relating to investigation
  • 1.4 Carry out cost–benefit analysis on various options identified and document in reports
  • 1.5 Personally brief involved parties or provide opportunities to discuss reports as necessary
2. Provide interim information and guidance to involved parties
  • 2.1 Inform involved parties accurately and thoroughly on aspects of security, loss prevention, risk and risk management strategies
  • 2.2 Inform involved parties promptly and accurately on matters of loss mitigation and estimates of potential liability
  • 2.3 Provide prompt information and guidance to clients and other parties on their legal position and potential to incur liabilities as result of loss, damage or injury
  • 2.4 Base guidance provided on objective assessment of client needs and risk exposure factors
3. Provide information and guidance regarding salvage and disposal to involved parties
  • 3.1 Identify and assess all cases for potential subrogation action
  • 3.2 Identify and evaluate methods of salvage and disposal and potential returns from such, and inform clients on appropriate steps to preserve salvageable materials
No information
No information
Replaces
State Code National Code Title Type
D4220 FNSILA503A Report findings and provide guidance to involved parties Unit of competency
Replaced By
State Code National Code Title Type
OCZ45 FNSILA512 Evaluate collected information and report findings in loss adjusting Unit of competency
State Code National Code Title Type
AWF7 FNS51415 Diploma of Loss Adjusting Qualification