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.
The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:
implement claim recovery procedures for at least three different insurance claims.
In the course of the above, the candidate must:
collate information and determine viability of the recovery
review options and determine a suitable claim recovery method
engage in negotiations to secure settlement conditions
calculate achievable recovery amounts
oversee financial transactions of payments
maintain accurate records.
The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:
legislative requirements, regulatory guidelines and industry sector compliance requirements as they apply to:
insurance contracts
consumer protection
privacy
collection of monies
Corporations Act
General Insurance Code of Practice
organisational policies, procedures, insurance guidelines and key stakeholders in claim recovery processes
legal aspects of insurance agents and brokers that apply when implementing claim recovery procedures
key aspects of claim recovery methods and their application
techniques for negotiating recovery settlements
insurance fundamentals and methods to interpret and apply policy wording, including rights of subrogation
key aspects of procedures of claims recovery from reinsurance
legal precedents and previous organisational results for insurance claims recovery.
Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.
This includes access to:
organisational records
organisational policies, procedures, legislation and regulations as they relate to contracts of insurance
common technology and software required to implement insurance claim recovery.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.