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Evidence Guide: CPPDSM4084 - Administer insurance for strata communities

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

CPPDSM4084 - Administer insurance for strata communities

What evidence can you provide to prove your understanding of each of the following citeria?

Establish legislative requirement for insurance.

  1. Research and access legislative requirements for insurance for each strata community.
  2. Organisational requirements for arranging insurance for individual strata community are identified.
Research and access legislative requirements for insurance for each strata community.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Organisational requirements for arranging insurance for individual strata community are identified.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Clarify insurance requirements for strata community.

  1. Legislative insurance requirements for strata community are communicated to strata community.
  2. Information on optional insurance cover is provided to strata community.
  3. Relationships with insurers and insurance brokers are disclosed to strata community.
  4. Information on extent of insurance cover is communicated to individual lot owners.
  5. Situations requiring specialist advice are identified and assistance is sought as required.
  6. Authority to obtain quotations from insurers or insurance brokers for strata community is obtained from owners committee.
  7. Insurance proposal documentation is completed.
Legislative insurance requirements for strata community are communicated to strata community.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Information on optional insurance cover is provided to strata community.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Relationships with insurers and insurance brokers are disclosed to strata community.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Information on extent of insurance cover is communicated to individual lot owners.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Situations requiring specialist advice are identified and assistance is sought as required.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Authority to obtain quotations from insurers or insurance brokers for strata community is obtained from owners committee.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Insurance proposal documentation is completed.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Arrange valuation of asset for insurance purposes.

  1. Source documentsare obtained.
  2. Information on assets to be insuredis gathered.
  3. Valuation specialist is engaged to advise on value of asset.
  4. Valuation is recorded and associated documentation, including statement of limitations in determining value of asset, is stored for ease of retrieval.
  5. Information on value of asset is provided to strata community and as required to insurer.
Source documentsare obtained.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Information on assets to be insuredis gathered.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Valuation specialist is engaged to advise on value of asset.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Valuation is recorded and associated documentation, including statement of limitations in determining value of asset, is stored for ease of retrieval.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Information on value of asset is provided to strata community and as required to insurer.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Place insurance.

  1. Suitable insurers or insurance brokers are identified and quotations and product information are obtained in line with instructions from strata community.
  2. Insurance quotations are reviewed to ensure accuracy and compliance with strata community, legislative and organisational requirements.
  3. Insurance quotations and associated documentation are communicated to the strata community.
  4. Adequate insurance policies and cover are acquired in line with instructions from the strata community.
  5. Certificates of currency for insurance policies for strata community are maintained and stored securely.
  6. Potential risks are monitored and communicated to strata community and strata community’s insurer.
Suitable insurers or insurance brokers are identified and quotations and product information are obtained in line with instructions from strata community.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Insurance quotations are reviewed to ensure accuracy and compliance with strata community, legislative and organisational requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Insurance quotations and associated documentation are communicated to the strata community.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Adequate insurance policies and cover are acquired in line with instructions from the strata community.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Certificates of currency for insurance policies for strata community are maintained and stored securely.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Potential risks are monitored and communicated to strata community and strata community’s insurer.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assist with lodging insurance claim.

  1. Assistance is provided to strata community to make insurance claim.
  2. Documentation to support insurance claim is lodged with insurer or insurance broker.
  3. Roles and responsibilities of insurance assessors are recognised.
  4. Insurance claim records and relevant information are securely stored.
Assistance is provided to strata community to make insurance claim.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Documentation to support insurance claim is lodged with insurer or insurance broker.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Roles and responsibilities of insurance assessors are recognised.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Insurance claim records and relevant information are securely stored.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review insurance arrangements.

  1. Insurance arrangements are monitored and reviewed regularly in consultation with strata community to ensure compliance with legislative and strata community’s requirements.
  2. Business equipment and technology are used to maintain and securely store insurance documentation.
Insurance arrangements are monitored and reviewed regularly in consultation with strata community to ensure compliance with legislative and strata community’s requirements.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Business equipment and technology are used to maintain and securely store insurance documentation.

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions.

1

Establish legislative requirement for insurance.

1.1.

Research and access legislative requirements for insurance for each strata community.

1.2.

Organisational requirements for arranging insurance for individual strata community are identified.

2.

Clarify insurance requirements for strata community.

2.1.

Legislative insurance requirements for strata community are communicated to strata community.

2.2.

Information on optional insurance cover is provided to strata community.

2.3.

Relationships with insurers and insurance brokers are disclosed to strata community.

2.4.

Information on extent of insurance cover is communicated to individual lot owners.

2.5.

Situations requiring specialist advice are identified and assistance is sought as required.

2.6.

Authority to obtain quotations from insurers or insurance brokers for strata community is obtained from owners committee.

2.7.

Insurance proposal documentation is completed.

3.

Arrange valuation of asset for insurance purposes.

3.1.

Source documentsare obtained.

3.2.

Information on assets to be insuredis gathered.

3.3.

Valuation specialist is engaged to advise on value of asset.

3.4.

Valuation is recorded and associated documentation, including statement of limitations in determining value of asset, is stored for ease of retrieval.

3.5.

Information on value of asset is provided to strata community and as required to insurer.

4.

Place insurance.

4.1.

Suitable insurers or insurance brokers are identified and quotations and product information are obtained in line with instructions from strata community.

4.2.

Insurance quotations are reviewed to ensure accuracy and compliance with strata community, legislative and organisational requirements.

4.3.

Insurance quotations and associated documentation are communicated to the strata community.

4.4.

Adequate insurance policies and cover are acquired in line with instructions from the strata community.

4.5.

Certificates of currency for insurance policies for strata community are maintained and stored securely.

4.6.

Potential risks are monitored and communicated to strata community and strata community’s insurer.

5.

Assist with lodging insurance claim.

5.1.

Assistance is provided to strata community to make insurance claim.

5.2.

Documentation to support insurance claim is lodged with insurer or insurance broker.

5.3.

Roles and responsibilities of insurance assessors are recognised.

5.4.

Insurance claim records and relevant information are securely stored.

6.

Review insurance arrangements.

6.1.

Insurance arrangements are monitored and reviewed regularly in consultation with strata community to ensure compliance with legislative and strata community’s requirements.

6.2.

Business equipment and technology are used to maintain and securely store insurance documentation.

Required Skills and Knowledge

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions.

1

Establish legislative requirement for insurance.

1.1.

Research and access legislative requirements for insurance for each strata community.

1.2.

Organisational requirements for arranging insurance for individual strata community are identified.

2.

Clarify insurance requirements for strata community.

2.1.

Legislative insurance requirements for strata community are communicated to strata community.

2.2.

Information on optional insurance cover is provided to strata community.

2.3.

Relationships with insurers and insurance brokers are disclosed to strata community.

2.4.

Information on extent of insurance cover is communicated to individual lot owners.

2.5.

Situations requiring specialist advice are identified and assistance is sought as required.

2.6.

Authority to obtain quotations from insurers or insurance brokers for strata community is obtained from owners committee.

2.7.

Insurance proposal documentation is completed.

3.

Arrange valuation of asset for insurance purposes.

3.1.

Source documentsare obtained.

3.2.

Information on assets to be insuredis gathered.

3.3.

Valuation specialist is engaged to advise on value of asset.

3.4.

Valuation is recorded and associated documentation, including statement of limitations in determining value of asset, is stored for ease of retrieval.

3.5.

Information on value of asset is provided to strata community and as required to insurer.

4.

Place insurance.

4.1.

Suitable insurers or insurance brokers are identified and quotations and product information are obtained in line with instructions from strata community.

4.2.

Insurance quotations are reviewed to ensure accuracy and compliance with strata community, legislative and organisational requirements.

4.3.

Insurance quotations and associated documentation are communicated to the strata community.

4.4.

Adequate insurance policies and cover are acquired in line with instructions from the strata community.

4.5.

Certificates of currency for insurance policies for strata community are maintained and stored securely.

4.6.

Potential risks are monitored and communicated to strata community and strata community’s insurer.

5.

Assist with lodging insurance claim.

5.1.

Assistance is provided to strata community to make insurance claim.

5.2.

Documentation to support insurance claim is lodged with insurer or insurance broker.

5.3.

Roles and responsibilities of insurance assessors are recognised.

5.4.

Insurance claim records and relevant information are securely stored.

6.

Review insurance arrangements.

6.1.

Insurance arrangements are monitored and reviewed regularly in consultation with strata community to ensure compliance with legislative and strata community’s requirements.

6.2.

Business equipment and technology are used to maintain and securely store insurance documentation.

A person demonstrating competency in this unit must satisfy all of the elements, performance criteria, foundation skills and range of conditions of this unit.

The person must administer the insurance arrangements and resolutions required for the strata communities of each of the following:

one new build

one residential strata community

one commercial strata community.

In doing the above, the person must:

establish legislative requirements for above insurance

place required insurance

assist owners corporation with lodging insurance claims

apply knowledge of organisation’s practices, ethical standards, and legislative requirements associated with administering insurance for strata communities

monitor and review insurance requirements, and safely and securely maintain required documentation.

A person demonstrating competency in this unit must demonstrate knowledge of:

asset valuation procedures

insurance requirements for:

commercial developments

new builds

residential developments

minimum legislative insurance requirements for strata communities

key requirements of federal, state or territory legislation and local government regulations relating to:

anti-discrimination

consumer protection

environmental issues

equal employment opportunity (EEO)

financial probity

privacy

strata communities

work health and safety (WHS)

roles and responsibilities of strata managers in relation to insurance for strata communities

sources of professional advice about insurance for strata communities.

Range Statement

This section specifies work environments and conditions that may affect performance. Essential operating conditions that may be present (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) are included. Bold italicised wording, if used in the performance criteria, is detailed below.

Legislative requirements for insurance must include:

Australian Competition and Consumer Commission (ACCC)

Corporations Act

Insurance Contracts Act

Strata Title Acts.

Strata communities must include:

commercial

new builds

residential.

Optional insurance cover must include:

office bearers’ legal liability

appeal expenses

catastrophe insurance

common property contents

fidelity guarantee

government audit costs

legal defence expenses

lot owners’ improvements to the building

machinery breakdown

voluntary workers insurance

workers’ compensation.

Relationships with insurers and insurance brokers must include:

acting asan agent

receiving commissions from a third party.

Source documents must include:

as-built plans

certificate of occupancy

depreciation schedule

legislation requirement

plan of subdivision

previous valuation

sinking fund report.

Information on assets must include:

building classification

building material

improvements and additions, including:

communication towers

embedded networks

playgrounds

underground tanks

number of storeys

plant and machinery.