ASIC RG 146 Tier 1 General Insurance Compliance Personal Accident and Sickness


ASIC RG 146 Tier 1 General Insurance Compliance Personal Accident and Sickness is a requirement for all those who as part of their day–to–day role provide general insurance personal accident and sickness advice to customers.

Outcomes

Pre-requisites

None

Price

AUD $975 per module

Modules

  • GI401-15 Serving the General Insurance Customer

    Explains the impact of the economic environment on financial services products, explores creating a relationship with the client in order to establish general insurance needs and thereby identify appropriate products.

    Learning Outcomes

    Upon completion of the program, participants should be able to:

    • identify the potential impacts that the economic environment can have on the financial services sector
    • understand the roles and relationships of financial services organisations, advisers and brokers
    • understand regulations pertaining to the definition of retail clients and to the authorisation, licensing and permitted scope of services of financial advisers and brokers
    • understand the code of practice that applies to the general insurance industry
    • identify general insurance products available on the market
    • discuss the impact of taxation on general insurance transactions
    • maintain knowledge of relevant legislation and products
    • understand regulations pertaining to prescribed classes of insurance and to exclusions in insurance contracts
    • establish relationships with customers
    • establish communication skills
    • understand requirements related to disclosure of capacity
    • understand regulations pertaining to privacy and to the hawking prohibitions (Australia)
    • identify client objectives, needs and financial situation
    • analyse client objectives, needs, financial situation and risk profile
    • develop appropriate strategies and solutions
    • present appropriate strategies and solutions to the client
    • negotiate financial plan, policy or transaction with the client
    • coordinate implementation of an agreed plan, policy or transaction
    • complete necessary documentation
    • explain requirements for providing point-of-sale and service documentation (e.g. FSG, PDS, SoA) to retail clients
    • present an appropriate level of knowledge about regulations pertaining to the duty of disclosure and interim cover
    • maintain necessary documentation
    • provide ongoing service where requested by a client
    • monitor feedback and report on service delivery
    • establish if a dispute exists
    • evidence an appropriate level of knowledge about regulations pertaining to dispute resolution
    • investigate a dispute and determine actions to be taken
    • resolve and finalise a dispute.

    Competencies

    • BSBCUS301 Deliver and monitor a service to customers
    • FNSASIC301 Establish client relationship and analyse needs
    • FNSASIC302 Develop, present and negotiate client solutions
    • FNSCUS402 Resolve disputes
    • FNSIAD501 Provide appropriate services, advice and products to clients

    Price

    Australia AUD $975
    Overseas AUD $975
    New Zealand NZD $1,030
    Emerging Market AUD $805

    Duration

    Standard (12 weeks)

    Online Assignment

    Pass Grade: students must be assessed as competent in all assignment questions

    Online Exam

    Pass Grade: 50%
    Duration: 90min

  • GI402-15 General Insurance Law and Regulation

    Deals with legal framework, laws, regulations, the Code of Practice and relevant Acts that govern the general insurance industry in Australia. It also covers health and safety in the workplace.

    Learning Outcomes

    Upon completion of the program, participants should be able to:

    • read and interpret legislative and industry information
    • identify the implications of changes to laws, regulations and rules
    • explain the relevance of tort law and duty of care principles
    • identify and explain relevant laws of principal and agents
    • read and interpret the Insurance Contracts Act
    • explain the duty of utmost good faith and the duty of disclosure
    • identify and apply organisational requirements of the Insurance Contracts Act and associated regulations
    • read and interpret the Corporations Act
    • explain the relevant laws of principles and agents under Australian Financial Service Licensing rules
    • identify and apply organisational requirements of the Corporations Act and associated regulations, including obligatory record keeping
    • interpret, identify and apply any organisational requirements arising out of the Insurance Act, Competition and Consumer Act, ASIC Act, National Consumer Credit Protection Act, and the Privacy Act
    • read and interpret industry information
    • comply with the General Insurance Code of Practice.

    Competencies

    • FNSFMK505 Comply with financial services regulation and industry codes of practice

    Price

    Australia AUD $975
    Overseas AUD $975
    New Zealand NZD $1,030
    Emerging Market AUD $805

    Duration

    Standard (12 weeks)

    Online Assignment

    Pass Grade: students must be assessed as competent in all assignment questions

    Online Exam

    Pass Grade: 50%
    Duration: 90min