CL30602-20
Settle liability claims
This unit describes the skills and knowledge required to settle non-routine and complex insurance liability claims, including: identification of non-standard issues; accessing required information to allow a decision to be made; and negotiation and finalisation of claims.
This unit applies to individuals working in job roles involving specialist knowledge and functions in the liability insurance sector and may be applied within organisations of various sizes and across a range of client bases. Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Users are advised to check with the relevant state and territory regulatory authorities to confirm those requirements.
What you'll learn
By the end of this learning pathway, you should be able to:
- determine the terms and conditions of the claim settlement
- negotiate and communicate settlement terms with the insured and/or relevant party
- document and communicate liability decisions
- finalise the settlement
- finalise claim documentation and identify changes to policy or procedures.
Competencies
FNSISV521 Settle non-routine and complex insurance claims
Topics Covered
Week 1 Determining terms and conditions of settlement
- Liability claims settlement
- Sources of legal liability
- Non-routine and complex claims
Week 2 Negotiating and communicating settlement terms
- Communicating settlement terms
- Resolving settlement disputes
- Identifying changes to the offer
Week 3 Finalising settlement
- Rejected offers
- Participating in negotiations
- Settlement
- Finalising settlement
Week 4 Post-settlement requirements
- Recovery
- Claim files
- Privacy
- Identifying required changes to policy or procedures
- Reporting findings and updating records
- Keeping up with industry developments
Assessment
1 Exam, 1 Integrated Workbook and 1 Observation Checklist
See the Assessment and Academic Calendar pages for more information.