Elements and Performance Criteria
- Advise clients on the varying characteristics of personal injury management insurance
- The characteristics of personal injury management insurance are identified
- Strengths, weaknesses, terms and conditions of personal injury management insurance are understood and communicated to clients where applicable
- An appropriate promotional strategy is accessed and applied in business activities
- Determine compliance implications of personal injury management insurance for client
- Maintain current knowledge of the varying characteristics of personal injury management insurance
- Relevant personal injury management insurance is reviewed regularly and any changes to terms and conditions identified and applied in daily work
- Systems for keeping up with changes and maintaining up-to-date knowledge about relevant personal injury management insurance are put in place
- Emerging trends affecting the industry are continually reviewed and applied to knowledge of personal injury management insurance
- Maintain an understanding of personal injury management premium systems
- Maintain knowledge of how industry classification rates are set and allocated to an employer, and factors affecting industry classification rates
- Maintain knowledge of premium formula, impact of its elements on employer premium and actuarial reasoning behind the formula
- Maintain knowledge of alternate premium options and when and why an employer could use them