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Evidence Guide: FNSISV501 - Issue contracts of insurance covering non-routine and complex situations

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

 

FNSISV501 - Issue contracts of insurance covering non-routine and complex situations

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

Identify non-routine, complex aspects and clarify client’s situation

  1. Identify non-routine and complex aspects of client requirements
  2. Elicit all necessary information from client
  3. Consult specialists where necessary
  4. Apply relevant parameters for non-routine, complex situations
  5. Verify risk information advised by client
  6. Implement survey requirements, if applicable
Identify non-routine and complex aspects of client requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Elicit all necessary information from client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consult specialists where necessary

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply relevant parameters for non-routine, complex situations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Verify risk information advised by client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement survey requirements, if applicable

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine appropriate approach

  1. Assess and interpret relevant parameters to determine organisation’s approach
  2. Consult specialists within and outside organisation as necessary
  3. Determine terms and conditions of contract and premiums within relevant parameters
  4. Refer request to higher authority if outside policy and organisational guidelines
Assess and interpret relevant parameters to determine organisation’s approach

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consult specialists within and outside organisation as necessary

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine terms and conditions of contract and premiums within relevant parameters

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Refer request to higher authority if outside policy and organisational guidelines

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Issue insurance contact

  1. Identify any special aspects of policy and notify client
  2. Decline unacceptable request where applicable under law, inform client and give reasons why
  3. Complete relevant calculations and contract documentation, and review to ensure it meets organisational procedures and legislative requirements
  4. Check documentation for accuracy and omissions according to operating procedures for non-routine, complex contracts
  5. Issue cover note, quote or new insurance policy following organisational operating procedures, and despatch to client
Identify any special aspects of policy and notify client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Decline unacceptable request where applicable under law, inform client and give reasons why

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Complete relevant calculations and contract documentation, and review to ensure it meets organisational procedures and legislative requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Check documentation for accuracy and omissions according to operating procedures for non-routine, complex contracts

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Issue cover note, quote or new insurance policy following organisational operating procedures, and despatch to client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify non-routine, complex aspects and clarify client’s situation

  1. Identify non-routine and complex aspects of client requirements
  2. Elicit all necessary information from client
  3. Consult specialists where necessary
  4. Apply relevant parameters for non-routine, complex situations
  5. Verify risk information advised by client
  6. Implement survey requirements, if applicable
Identify non-routine and complex aspects of client requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Elicit all necessary information from client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consult specialists where necessary

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Apply relevant parameters for non-routine, complex situations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Verify risk information advised by client

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement survey requirements, if applicable

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify non-routine, complex aspects and clarify client’s situation

1.1 Identify non-routine and complex aspects of client requirements

1.2 Elicit all necessary information from client

1.3 Consult specialists where necessary

1.4 Apply relevant parameters for non-routine, complex situations

1.5 Verify risk information advised by client

1.6 Implement survey requirements, if applicable

2. Determine appropriate approach

2.1 Assess and interpret relevant parameters to determine organisation’s approach

2.2 Consult specialists within and outside organisation as necessary

2.3 Determine terms and conditions of contract and premiums within relevant parameters

2.4 Refer request to higher authority if outside policy and organisational guidelines

3. Issue insurance contact

3.1 Identify any special aspects of policy and notify client

3.2 Decline unacceptable request where applicable under law, inform client and give reasons why

3.3 Complete relevant calculations and contract documentation, and review to ensure it meets organisational procedures and legislative requirements

3.4 Check documentation for accuracy and omissions according to operating procedures for non-routine, complex contracts

3.5 Issue cover note, quote or new insurance policy following organisational operating procedures, and despatch to client

Required Skills and Knowledge

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Identify non-routine, complex aspects and clarify client’s situation

1.1 Identify non-routine and complex aspects of client requirements

1.2 Elicit all necessary information from client

1.3 Consult specialists where necessary

1.4 Apply relevant parameters for non-routine, complex situations

1.5 Verify risk information advised by client

1.6 Implement survey requirements, if applicable

2. Determine appropriate approach

2.1 Assess and interpret relevant parameters to determine organisation’s approach

2.2 Consult specialists within and outside organisation as necessary

2.3 Determine terms and conditions of contract and premiums within relevant parameters

2.4 Refer request to higher authority if outside policy and organisational guidelines

3. Issue insurance contact

3.1 Identify any special aspects of policy and notify client

3.2 Decline unacceptable request where applicable under law, inform client and give reasons why

3.3 Complete relevant calculations and contract documentation, and review to ensure it meets organisational procedures and legislative requirements

3.4 Check documentation for accuracy and omissions according to operating procedures for non-routine, complex contracts

3.5 Issue cover note, quote or new insurance policy following organisational operating procedures, and despatch to client

Evidence of the ability to:

accurately identify non-routine aspects and clarify the client's request

identify and verify risk information received from clients

determine correct premium and issue insurance contract.

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

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

explain industry sector compliance, legislation and regulatory requirements

describe the process of interpreting application information and how to apply specific risk ratings

explain the importance of wording of insurance policies in keeping with the organisation or industry sector

outline key features of organisational policy, procedures, insurance guidelines and levels of authority for non-routine and complex situations

outline organisational systems required for issuing cover notes, quotes or new insurance policies.