Elements and Performance Criteria
- Determine terms and conditions of risk acceptability
- Risk acceptance information is identified and reviewed
- Risk acceptability is determined within authority limitations
- Terms and conditions of risk acceptability are checked for changes since the last time it was reviewed for underwriting
- Terms and conditions of risk acceptance are determined in accordance with risk acceptance criteria, including client history
- If appropriate, alternative terms or adjusted benefits are proposed
- Communicate result of risk assessment
- Evaluate client response
- Client response is assessed to determine whether action to modify terms and conditions is required
- Offer is modified, as necessary, and advice to client is prepared according to operating procedures
- Offer complies with underwriting acceptance authorities and criteria, or an appropriate referral approval is sought
- Negotiate agreement
- Cancel/lapse or renew cover
- Revised documentation is issued to client in organisation format and according to organisation operating procedures and legislative requirements
- Reinsurance cover is confirmed as appropriate
- Lapse notice is issued to client, if applicable, in accordance with organisation procedures
- Documentation is filed and stored according to operating procedures