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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Determine hazards and exposures
   • Undertake comprehensive physical examination of risk, including hazard indicators
   • Interview client and relevant third parties to identify potential risk components
2. Analyse level of hazards and exposures
   • Assess risk type against known exposure factors
   • Assess risk type for compliance with relevant legislation and organisational policy
   • Determine acceptability of risk within organisation’s underwriting requirements
   • Estimate maximum probable loss, where applicable
3. Report and recommend on condition of risk exposure
   • Document condition and improvements according to organisational policy and procedures
   • Specify and apply loss control measures as condition of risk acceptance and determination of renewal
4. Monitor and review loss control measures
   • Follow up loss control measures and record according to organisational policy and procedures
   • Monitor risk improvement against loss control measures
   • Conduct follow up risk surveys as required

Performance Evidence

Evidence of the ability to:

interpret and comply with all legal obligations and organisational procedures

develop a suitable insurance contract or policy after identifying and thoroughly assessing hazards and exposures to identify risks

conduct comprehensive surveys of potential risk exposure and develop recommendations to control or minimise risk of loss

monitor loss control measures in accordance with underwriter’s guidelines and organisational procedures

monitor risk improvements against loss control measures.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

identify and apply relevant legislation, regulatory guidelines and industry sector compliance requirements

explain the calculation of maximum probable loss (MPL)

describe the potential market share for the product or line of business

outline organisational policy, procedures, underwriting guidelines and levels of authority

describe relevant underwriting principles related to insurance products and define the difference between treaty and facultative reinsurance

outline relative industry hazards

identify and describe key features of relevant legislative and compliance requirements

explain risk prevention methods and application

identify relevant statutory hazard, health and safety legislation.

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