Unit of competency Outline
Date retreived
22/07/2026 1:29 PM AWST
22/07/2026 1:29 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.
Process facultative and treaty reinsurance claims
Process facultative and treaty reinsurance claims
Unit of competency
National Code
FNSISV308A
FNSISV308A
State Code
D4230
D4230
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
21/02/2012
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
21/02/2012
Nominal Hours
40
Description
This unit describes the performance outcomes, skills and knowledge required to process facultative and treaty reinsurance claims in accordance with the organisation guidelines and procedures.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. Receive reinsurance claim
- 1.1. Information relating to facultative or treaty reinsurance claim is received and checked
- 1.2. Completeness of the information is checked
- 1.3. Coverage of a claim, or series of claims, under a specific client, policy or treaty is confirmed
2. Calculate the recovery including reinstatements
- 2.1. Amount of payment/outstanding is calculated according to organisation policy and procedures and treaty and facultative obligations
- 2.2. Reinsurers are notified of claim amount and details under relevant reinsurance arrangements
- 2.3. Payment is requested from reinsurer
- 2.4. Payment information is passed on to appropriate staff, where required
- 2.5. All claim information is accurately recorded/entered on the system
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.
Facultative reinsurance may include:
reinsurance negotiated and placed on a case by case basis, as opposed to the automatic protection provided under a reinsurance treaty
each facultative reinsurance arrangement is subject to a process of offer and acceptance between parties. It is usually arranged where a type of insurance may be excluded from the terms of a treaty, where amounts insured exceed capacity, where no treaty reinsurance facility in is place, or where assessed risk is excessive and the insurer wishes to protect the results of its treaty arrangements.
Treaty reinsurance may include:
an obligatory reinsurance contract usually effected to cover the whole or a certain section of the reinsured's business with the reinsurer receiving details of each individual risk reinsured.
Claims checking may be through:
checking against facultative certificate/placing slip or cover note
checking against treaty cover note.
Organisation policies and procedures may include:
authority levels.
Entering claims data may include:
coding according to organisation requirements (entering statistical data).
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.
Facultative reinsurance may include:
reinsurance negotiated and placed on a case by case basis, as opposed to the automatic protection provided under a reinsurance treaty
each facultative reinsurance arrangement is subject to a process of offer and acceptance between parties. It is usually arranged where a type of insurance may be excluded from the terms of a treaty, where amounts insured exceed capacity, where no treaty reinsurance facility in is place, or where assessed risk is excessive and the insurer wishes to protect the results of its treaty arrangements.
Treaty reinsurance may include:
an obligatory reinsurance contract usually effected to cover the whole or a certain section of the reinsured's business with the reinsurer receiving details of each individual risk reinsured.
Claims checking may be through:
checking against facultative certificate/placing slip or cover note
checking against treaty cover note.
Organisation policies and procedures may include:
authority levels.
Entering claims data may include:
coding according to organisation requirements (entering statistical data).
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:
fully comply with organisation operating procedures, legislative requirements and industry codes of practice, where applicable
comply with terms and conditions of organisation reinsurance arrangement.
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.
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:
fully comply with organisation operating procedures, legislative requirements and industry codes of practice, where applicable
comply with terms and conditions of organisation reinsurance arrangement.
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.
Guidance information for assessment
Replaces
| State Code | National Code | Title | Type |
|---|---|---|---|
| C9835 | FNSINSV308B | Process facultative and treaty reinsurance claims | Unit of competency |
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUR98 | FNSISV308 | Process facultative and treaty reinsurance claims | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| D704 | FNS30511 | Certificate III in General Insurance | Qualification |