Compliance requirements for brokers
This unit describes skills and knowledge required to apply industry and legislative requirements, guidelines and standards, and organisational policies and procedures in a daily work context in an insurance broking business.
It applies to individuals working with retail products or retail clients in an insurance broking environment.
What you'll learn
On completion of this unit, you will be able to effectively:
- manage client and regulatory information
- apply professional work practices
- meet regulatory requirements.
FNSIBK415 Meet compliance requirements relating to insurance broking
The unit covers the following areas:
- The role of the broker
- Associated job roles
- Risk management and compliance
- The law and regulatory environment
- Insurance regulators and other bodies
- The Corporations Act
- The Insurance Act
- The Insurance Contracts Act
- The Privacy Act
- Other legislation
- Work health and safety
- The General Insurance Code of Practice
- The Insurance Brokers Code of Practice
- Policies and procedures
- Monitoring changes
- Managing information
- Case Study — A new business enquiry.
1 Exam and 1 Simulation