Unit of competency Outline
Date retreived
22/07/2026 4:46 PM AWST
22/07/2026 4:46 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.
Issue contracts of insurance covering non-routine and complex situations
Issue contracts of insurance covering non-routine and complex situations
Unit of competency
National Code
FNSISV501A
FNSISV501A
State Code
D4239
D4239
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
29/07/2014
Nominal Hours
50
Description
This unit describes the performance outcomes, skills and knowledge required to undertake processes related to a contract of insurance in a non-routine, complex situations. It encompasses identifying the necessary information, reviewing and interpreting the request against relevant legislation and organisation guidelines and procedures and issuing a new policy/contract of insurance in response to requests for quotes, new policies, or interim cover (cover note) in non-routine, complex situations.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
Notes
Elements and Performance Criteria
1. Identify non-routine, complex aspects and clarify the customer's situation
- 1.1. Non-routine and complex aspects of the customer's requirements are identified
- 1.2. All necessary information is elicited from the customer
- 1.3. Specialists are consulted where necessary
- 1.4. Relevant parameters for non-routine, complex situations are applied
- 1.5. Risk information advised by client is verified
- 1.6. Survey requirements are implemented, if applicable
2. Determine appropriate approach to complex and non-routine aspects
- 2.1. Relevant parameters are assessed and interpreted to determine organisation approach
- 2.2. Specialists within and outside the organisation are consulted as necessary
- 2.3. Terms, conditions of contract and premiums are determined within relevant parameters
- 2.4. Request is referred to higher authority if outside policy and organisation guidelines
3. Issue insurance contact
- 3.1. Any special aspects of the policy are identified and notified to client
- 3.2. Where applicable under law an unacceptable request is declined, customer is informed and reasons given
- 3.3. Relevant calculations and contract documentation are completed and reviewed to ensure it meets organisation procedures and legislative requirements
- 3.4. Documentation is checked for accuracy and omissions according to operating procedures for non-routine, complex contracts
- 3.5. Cover note, quote, or new insurance policy is issued following organisation operating procedures and dispatched to client
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Non-routine and complex may include:
complex transactions with a range of uncertain variables
cross border implications
difficult and hard to place risks
grouped employers
GST and other tax implications
oversupply of capital
predecessor organisation rule
referral risks
risks outside authority levels
technology risks.
Specialists may include:
experts on endorsement and exclusions
insurance brokers
legal interpretation of legislation
policy drafters.
Relevant parameters may include:
legislation, guidelines and instructions
organisation policy and procedures
premium and rate assessments
underwriter's terms and conditions.
Risk information may include:
claims records and data
formal risk survey
organisation history.
Documentation includes:
amendments
cover notes
endorsements
exclusions
extensions
policy schedules
premium calculations
survey results.
Legislative requirements may include:
codes of practice
compulsory third party motor accident insurance legislation, regulations and guidelines
Insurance (Agents and Brokers) Act
Insurance Contracts Act
Trade Practices Act
workers compensation insurance legislation, regulations and guidelines.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Non-routine and complex may include:
complex transactions with a range of uncertain variables
cross border implications
difficult and hard to place risks
grouped employers
GST and other tax implications
oversupply of capital
predecessor organisation rule
referral risks
risks outside authority levels
technology risks.
Specialists may include:
experts on endorsement and exclusions
insurance brokers
legal interpretation of legislation
policy drafters.
Relevant parameters may include:
legislation, guidelines and instructions
organisation policy and procedures
premium and rate assessments
underwriter's terms and conditions.
Risk information may include:
claims records and data
formal risk survey
organisation history.
Documentation includes:
amendments
cover notes
endorsements
exclusions
extensions
policy schedules
premium calculations
survey results.
Legislative requirements may include:
codes of practice
compulsory third party motor accident insurance legislation, regulations and guidelines
Insurance (Agents and Brokers) Act
Insurance Contracts Act
Trade Practices Act
workers compensation insurance legislation, regulations and guidelines.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
interpret and comply with relevant legislation and regulations
identify non-routine aspects and clarify the customers' request
determine organisation approach to complex and non-routine aspects of the request
determine correct premium and issue insurance contract.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation records
access to organisation policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace projects and business simulations or scenarios.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
interpret and comply with relevant legislation and regulations
identify non-routine aspects and clarify the customers' request
determine organisation approach to complex and non-routine aspects of the request
determine correct premium and issue insurance contract.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation records
access to organisation policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace projects and business simulations or scenarios.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR99 | FNSISV501 | Issue contracts of insurance covering non-routine and complex situations | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S727 | FNS51110 | Diploma of General Insurance | Qualification |
| S717 | FNS50110 | Diploma of Personal Injury Management | Qualification |