Unit of competency Outline

Date retreived
22/07/2026 8:36 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.

Negotiate and effect settlement

Negotiate and effect settlement

Unit of competency
National Code
FNSILA504
State Code
AUR73
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
60
Description
This unit describes the skills and knowledge required to identify all available options for settlement and to assist in the settlement process relating to loss situations, damage or injury including dispute resolution in the case of contention within the settlement process.It applies to individuals in the loss adjusting sector who use specialised knowledge, well-developed organisational skills and strong communication skills to effectively negotiate with a range of personnel. 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. Prepare for negotiation
  • 1.1 Accurately identify all relevant issues and options for settlement in advance
  • 1.2 Obtain additional information to support identified options from relevant sources and parties
  • 1.3 Carry out cost–benefit analysis on various options identified
  • 1.4 Document and accurately prepare settlement options in professional format prior to negotiations, and in accordance with client or organisational policy and guidelines and with relevant legislation or codes of practice
2. Attend meetings with involved parties
  • 2.1 Document and accurately prepare all information and data needed for settlement meetings in professional format prior to meetings
  • 2.2 Arrange and conduct meetings of involved parties in orderly, courteous and professional manner to ensure resolution of issues and settlement
  • 2.3 Accurately document and promptly convey outcomes of meetings between involved parties to clients and all other parties
  • 2.4 Promptly make available, where appropriate, all documents and information processed as part of loss adjustment activities to other involved parties
3. Represent clients in cases where disputation arises
  • 3.1 Represent clients or organisational interests satisfactorily and provide all relevant documents and information to other involved parties
  • 3.2 Manage disputations courteously and professionally to ensure best and most expeditious outcome for clients or organisations at minimum monetary and other costs
No information
No information
Replaces
State Code National Code Title Type
D4221 FNSILA504A Negotiate and effect settlement Unit of competency
Replaced By
State Code National Code Title Type
OCZ38 FNSILA514 Negotiate and affect settlement relating to loss situation, damage or injury Unit of competency
State Code National Code Title Type
AWF7 FNS51415 Diploma of Loss Adjusting Qualification