Unit of competency Outline

Date retreived
22/07/2026 12:55 PM AWST

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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
FNSISV501
State Code
AUR99
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
50
Description
This unit describes the skills and knowledge required to undertake processes related to a contract of insurance in a non-routine, complex situation. It encompasses 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, complex situations.It applies to individuals working in job roles with specialist knowledge and functions such as insurance brokers or agents in a range of insurance sectors 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. Identify non-routine, complex aspects and clarify client’s situation
  • 1.1 Identify non-routine and complex aspects of client requirements
  • 1.2 Elicit all necessary information from client
  • 1.3 Consult specialists where necessary
  • 1.4 Apply relevant parameters for non-routine, complex situations
  • 1.5 Verify risk information advised by client
  • 1.6 Implement survey requirements, if applicable
2. Determine appropriate approach
  • 2.1 Assess and interpret relevant parameters to determine organisation’s approach
  • 2.2 Consult specialists within and outside organisation as necessary
  • 2.3 Determine terms and conditions of contract and premiums within relevant parameters
  • 2.4 Refer request to higher authority if outside policy and organisational guidelines
3. Issue insurance contact
  • 3.1 Identify any special aspects of policy and notify client
  • 3.2 Decline unacceptable request where applicable under law, inform client and give reasons why
  • 3.3 Complete relevant calculations and contract documentation, and review to ensure it meets organisational procedures and legislative requirements
  • 3.4 Check documentation for accuracy and omissions according to operating procedures for non-routine, complex contracts
  • 3.5 Issue cover note, quote or new insurance policy following organisational operating procedures, and despatch to client
No information
No information
Replaces
State Code National Code Title Type
D4239 FNSISV501A Issue contracts of insurance covering non-routine and complex situations Unit of competency
Replaced By
State Code National Code Title Type
OCZ64 FNSISV531 Issue insurance contracts covering non-routine and complex situations Unit of competency