List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions. |
1 | Establish legislative requirement for insurance. | 1.1. | Research and access legislative requirements for insurance for each strata community. |
| 1.2. | Organisational requirements for arranging insurance for individual strata community are identified. |
2. | Clarify insurance requirements for strata community. | 2.1. | Legislative insurance requirements for strata community are communicated to strata community. |
| 2.2. | Information on optional insurance cover is provided to strata community. |
| 2.3. | Relationships with insurers and insurance brokers are disclosed to strata community. |
| 2.4. | Information on extent of insurance cover is communicated to individual lot owners. |
| 2.5. | Situations requiring specialist advice are identified and assistance is sought as required. |
| 2.6. | Authority to obtain quotations from insurers or insurance brokers for strata community is obtained from owners committee. |
| | 2.7. | Insurance proposal documentation is completed. |
3. | Arrange valuation of asset for insurance purposes. | 3.1. | Source documentsare obtained. |
| 3.2. | Information on assets to be insuredis gathered. |
| 3.3. | Valuation specialist is engaged to advise on value of asset. |
| 3.4. | Valuation is recorded and associated documentation, including statement of limitations in determining value of asset, is stored for ease of retrieval. |
| | 3.5. | Information on value of asset is provided to strata community and as required to insurer. |
4. | Place insurance. | 4.1. | Suitable insurers or insurance brokers are identified and quotations and product information are obtained in line with instructions from strata community. |
| 4.2. | Insurance quotations are reviewed to ensure accuracy and compliance with strata community, legislative and organisational requirements. |
| 4.3. | Insurance quotations and associated documentation are communicated to the strata community. |
| 4.4. | Adequate insurance policies and cover are acquired in line with instructions from the strata community. |
| | 4.5. | Certificates of currency for insurance policies for strata community are maintained and stored securely. |
| | 4.6. | Potential risks are monitored and communicated to strata community and strata community’s insurer. |
5. | Assist with lodging insurance claim. | 5.1. | Assistance is provided to strata community to make insurance claim. |
| 5.2. | Documentation to support insurance claim is lodged with insurer or insurance broker. |
| 5.3. | Roles and responsibilities of insurance assessors are recognised. |
| 5.4. | Insurance claim records and relevant information are securely stored. |
6. | Review insurance arrangements. | 6.1. | Insurance arrangements are monitored and reviewed regularly in consultation with strata community to ensure compliance with legislative and strata community’s requirements. |
6.2. | Business equipment and technology are used to maintain and securely store insurance documentation. |
A person demonstrating competency in this unit must satisfy all of the elements, performance criteria, foundation skills and range of conditions of this unit.
The person must administer the insurance arrangements and resolutions required for the strata communities of each of the following:
one new build
one residential strata community
one commercial strata community.
In doing the above, the person must:
establish legislative requirements for above insurance
place required insurance
assist owners corporation with lodging insurance claims
apply knowledge of organisation’s practices, ethical standards, and legislative requirements associated with administering insurance for strata communities
monitor and review insurance requirements, and safely and securely maintain required documentation.
A person demonstrating competency in this unit must demonstrate knowledge of:
asset valuation procedures
insurance requirements for:
commercial developments
new builds
residential developments
minimum legislative insurance requirements for strata communities
key requirements of federal, state or territory legislation and local government regulations relating to:
anti-discrimination
consumer protection
environmental issues
equal employment opportunity (EEO)
financial probity
privacy
strata communities
work health and safety (WHS)
roles and responsibilities of strata managers in relation to insurance for strata communities
sources of professional advice about insurance for strata communities.
The following must be present and available to learners during assessment activities:
equipment:
computer system with internet, email and printing facilities
specifications:
organisation’s policies and procedures for administering insurance for strata community
sources of information on insurers and insurance brokers
information on insurance products for strata communities
legislation on minimum insurance requirements for strata communities
advice from relevant consumer affairs agencies and industry associations on duties of strata managers in relation to administering insurance for strata communities
physical conditions:
strata community
relationship with team members and supervisor:
member of a work team in a property industry context.
Assessor requirements
As a minimum, assessors must satisfy the assessor requirements in the Standards for Registered Training Organisations (RTOs) current at the time of assessment.