Unit of competency Outline
Date retreived
23/07/2026 1:13 AM AWST
23/07/2026 1:13 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Develop and maintain knowledge of personal injury management insurance
Develop and maintain knowledge of personal injury management insurance
Unit of competency
National Code
FNSPIM406A
FNSPIM406A
State Code
D4283
D4283
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
29/07/2014
Field of Education
081105 - Investment And Securities
Original Release Date
29/07/2014
Nominal Hours
35
Description
This unit describes the performance outcomes, skills and knowledge required to maintain current knowledge of personal injury management insurance and apply sound industry and product knowledge to current insurance policies and practices.This unit may apply to job roles subject to licensing, legislative, regulatory or certification requirements so Commonwealth, State or Territory requirements should be confirmed with the relevant body.
Notes
Elements and Performance Criteria
1. Advise clients on the varying characteristics of personal injury management insurance
- 1.1. The characteristics of personal injury management insurance are identified
- 1.2. Strengths, weaknesses, terms and conditions of personal injury management insurance are understood and communicated to clients where applicable
- 1.3. An appropriate promotional strategy is accessed and applied in business activities
2. Determine compliance implications of personal injury management insurance for client
- 2.1. Compliance implications are established and documented
- 2.2. Client is provided with all necessary information and documentation as per compliance requirements
3. Maintain current knowledge of the varying characteristics of personal injury management insurance
- 3.1. Relevant personal injury management insurance is reviewed regularly and any changes to terms and conditions identified and applied in daily work
- 3.2. Systems for keeping up with changes and maintaining up-to-date knowledge about relevant personal injury management insurance are put in place
- 3.3. Emerging trends affecting the industry are continually reviewed and applied to knowledge of personal injury management insurance
4. Maintain an understanding of personal injury management premium systems
- 4.1. Maintain knowledge of how industry classification rates are set and allocated to an employer, and factors affecting industry classification rates
- 4.2. Maintain knowledge of premium formula, impact of its elements on employer premium and actuarial reasoning behind the formula
- 4.3. Maintain knowledge of alternate premium options and when and why an employer could use them
RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Personal injury management insurance may include:
legislated or voluntary insurance covering worker or personal injury
workers compensation insurance under relevant State or Territory legislation.
Clients may include:
employers or other policy holders and their representatives
health professionals
insurers.
Compliance implications may include:
compliance with relevant State or Territory legislation
impact on policy terms and conditions
regulations, standards and codes of practice in relation to personal injury.
Emerging trends may include:
accident and health
economic
environmental
financial
political.
Classification rates may include:
calculated rates
industry risk factors by sector and type
predetermined rates by industry sector.
Premium formula may include:
conditions for variation
pre determined formula.
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Personal injury management insurance may include:
legislated or voluntary insurance covering worker or personal injury
workers compensation insurance under relevant State or Territory legislation.
Clients may include:
employers or other policy holders and their representatives
health professionals
insurers.
Compliance implications may include:
compliance with relevant State or Territory legislation
impact on policy terms and conditions
regulations, standards and codes of practice in relation to personal injury.
Emerging trends may include:
accident and health
economic
environmental
financial
political.
Classification rates may include:
calculated rates
industry risk factors by sector and type
predetermined rates by industry sector.
Premium formula may include:
conditions for variation
pre determined formula.
EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
interpret and comply with industry and organisation obligations and objectives including relevant legislative requirements
deal with questions relating to all aspects of the business and policy issues that arise for clients
effectively manage policy and product data and information
identify and present on issues of relevance to clients.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation records
access to organisation policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace projects and business simulations or scenarios.
Guidance information for assessment
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
interpret and comply with industry and organisation obligations and objectives including relevant legislative requirements
deal with questions relating to all aspects of the business and policy issues that arise for clients
effectively manage policy and product data and information
identify and present on issues of relevance to clients.
Context of and specific resources for assessment
Assessment must ensure:
competency is demonstrated in the context of the work environment and conditions specified in the range statement either in a relevant workplace or a closely simulated work environment
access to and the use of a range of common office equipment, technology, software and consumables
access to organisation records
access to organisation policies and procedures.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples, in combination, are appropriate for this unit:
evaluating an integrated activity, which combines the elements of competency for the unit, or a cluster of related units of competency
observing processes and procedures in workplaces
verbal or written questioning on underpinning knowledge and skills
evaluating samples of work
accessing and validating third party reports
setting and reviewing workplace projects and business simulations or scenarios.
Guidance information for assessment
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AUS47 | FNSPIM406 | Develop and maintain knowledge of personal injury management insurance | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S704 | FNS40510 | Certificate IV in Personal Injury Management (Underwriting) | Qualification |