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.

List each assessment task's title, type (eg project, observation/demonstration, essay, assignment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice	Yes	No	Comments/feedback
Identify sources and rights of recovery
Calculate achievable recovery amount
Evaluate extent of recovery success
Determine recovery method based on assessing benefit to organisation and according to organisational operating procedures
Confirm that selected recovery method is appropriate to circumstances of loss and compliant with legislative and organisational requirements
Issue demand to responsible party and appoint agents to undertake loss recovery, as required
Confirm knock for knock, as required
Make referral to solicitor and other relevant service provider, as required
Implement and follow up recovery within required timeframes and according to organisational procedures
Negotiate recovery settlement within required timeframes and according to organisational procedures
Confirm receipt of recovery amounts
Prepare payment information and facilitation of claim payment, as required
Make recommendation to relevant team on payment of client’s share of recovery money, as required
Finalise claims according to legislation, regulations, organisational operating procedures and codes of practice, as required
Update required records and advise underwriter of any special circumstances, as required

Assessment Cover Sheet

FNSISV527 - Implement insurance claim recovery procedures

Assessment task 1: [title]

Student name:

Student ID:

I declare that the assessment tasks submitted for this unit are my own work.

Student signature:

Result: Competent Not yet competent

Feedback to student

 

 

 

 

 

 

 

 

Assessor name:

Signature:

Date:

Assessment Record Sheet

FNSISV527 - Implement insurance claim recovery procedures

Student name:

Student ID:

Assessment task 1: [title] Result: Competent Not yet competent

(add lines for each task)

Feedback to student:

 

 

 

 

 

 

 

 

Overall assessment result: Competent Not yet competent

Assessor name:

Signature:

Date:

Student signature:

Date: