Manage non-routine and complex liability claims
This unit describes the skills and knowledge required to manage non-routine and complex insurance claims, including:
• identifying non-standard issues
• determining the business impact
• managing all aspects of the claims resolution process.
Who should take the course
The unit applies to those who apply specialist knowledge and functions when managing non-routine and complex insurance claims, such as major losses, bodily injury losses, long-term settlement, and claims involving legal procedures across international boundaries.
What you'll learn
By the end of this learning pathway, you should be able to:
- analyse claims to determine whether they are valid
- evaluate the impacts of claims
- determine settlement options
- manage support arrangements to resolve claims
- finalise claim process.
FNSISV520 Manage non-routine and complex insurance claims
Week 1: Analysing claims
- learn about non-routine and complex claims
- explore different types of liability insurance
- understand conditions and exclusions relevant to liability insurance
- assess claims to determine whether they are valid and can be covered by the insurer
- check whether information provided is accurate.
Week 2: Evaluating claims and appointing specialists
- seek specialist advice
- learn about reinsurance and notification requirements
- analyse claims data
- set claims reserves
- explore ways to minimise losses.
Week 3: Determining settlement options and supporting claimants
- investigate applicable legislation and industry requirements
- learn about professional privilege
- consider settlement strategies
- seek advice from colleagues and others
- support claimants.
Week 4: Recording information and changing procedures
- employ mediation skills
- identify if changes are required to policies or procedures
- report your findings
- update records
- finalise files.
1 Exam and 1 Simulation