Unit of competency Outline
Date retreived
22/07/2026 10:49 PM AWST
22/07/2026 10:49 PM 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 guidelines for broking services
Develop guidelines for broking services
Unit of competency
National Code
FNSIBK601A
FNSIBK601A
State Code
D4196
D4196
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
31/07/2014
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
31/07/2014
Nominal Hours
80
Description
This unit describes the performance outcomes, skills and knowledge required to develop and implement policies and procedures and business practices in a broking organisation. It may be applied in combination with other broking management units to meet ASIC educational standards for responsible managers.This unit is applicable to individuals working within enterprises and job roles subject to licensing, legislative, regulatory or certification requirements including legislation administered by the Australian Securities and Investments Commission (ASIC).
Notes
Elements and Performance Criteria
1. Identify opportunities and constraints for the provision of broking services
- 1.1. Business operations are reviewed to ensure compliance with relevant legislation
- 1.2. Availability of suitable products/suppliers is identified market wide
- 1.3. Resource limitations are identified
2. Establish client risk assessment methodology
- 2.1. Risk exposure review documentation is developed to enable effective analysis of client risks
- 2.2. Notices/instructions are developed to ensure full disclosures are made in compliance with relevant legislation and underwriting requirements
- 2.3. Resource and expertise requirements are identified to ensure required additional or specialist support is obtained
3. Establish client contact criteria
- 3.1. Measures to determine levels of client contact are determined
- 3.2. Responses to deal with contingent demand requirements are determined
4. Determine procedures for documentation
- 4.1. Documented distribution procedures are established in compliance with relevant legislation and underwriter requirements
- 4.2. Appropriate types and levels of documentation for client service are determined
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.
Relevant legislation includes:
Agents and Brokers Act
Carriers Act
Compulsory Third Party Motor Vehicles Act
Credit Act
Insurance Act, as amended
Insurance Contracts Act
Local Government Act
Marine Insurance Act
Trade Practices Act
workers compensation Acts.
Resource limitations may be:
equipment and facilities
financial
geographical
technical expertise.
Risk exposure review documents may include
declarations
disclosure information
questionnaires
risk checklists.
Types of client risks may be all exposures applicable to relevant clients such as:
casualty
consequential loss
employee benefits
intangible
liability
property
tangible.
Disclosure requirements may relate to:
any other material facts
business activity
convictions
insurance history.
Specialists may include:
accountants
consultants
engineers
insurance organisation representatives
legal professionals
risk managers
surveyors
valuers.
Measures used to determine client contact levels include:
financial returns
location
market niche
size.
Contact methods can include:
correspondence
direct mail
facsimile
newsletters
personal contact
telephone.
Contingent demands may occur when:
business development occurs
claims are made
risk changes.
Documentation can include:
billing
claim statistics
closings to underwriters
declarations
endorsements
new business reports
policies
proposals
remittance to underwriters
renewal certificates
renewal reports
risk reviews
service manuals.
Relevant legislation includes:
Agents and Brokers Act
Carriers Act
Compulsory Third Party Motor Vehicles Act
Credit Act
Insurance Act, as amended
Insurance Contracts Act
Local Government Act
Marine Insurance Act
Trade Practices Act
workers compensation Acts.
Resource limitations may be:
equipment and facilities
financial
geographical
technical expertise.
Risk exposure review documents may include
declarations
disclosure information
questionnaires
risk checklists.
Types of client risks may be all exposures applicable to relevant clients such as:
casualty
consequential loss
employee benefits
intangible
liability
property
tangible.
Disclosure requirements may relate to:
any other material facts
business activity
convictions
insurance history.
Specialists may include:
accountants
consultants
engineers
insurance organisation representatives
legal professionals
risk managers
surveyors
valuers.
Measures used to determine client contact levels include:
financial returns
location
market niche
size.
Contact methods can include:
correspondence
direct mail
facsimile
newsletters
personal contact
telephone.
Contingent demands may occur when:
business development occurs
claims are made
risk changes.
Documentation can include:
billing
claim statistics
closings to underwriters
declarations
endorsements
new business reports
policies
proposals
remittance to underwriters
renewal certificates
renewal reports
risk reviews
service manuals.
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:
apply extensive industry knowledge of products, practices, global markets and exposuresto determine business directions and suitable options
develop and coordinate a plan.
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 organisational 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
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
apply extensive industry knowledge of products, practices, global markets and exposuresto determine business directions and suitable options
develop and coordinate a plan.
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 organisational 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 |
|---|---|---|---|
| AUR51 | FNSIBK601 | Develop guidelines for broking services | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| S734 | FNS60110 | Advanced Diploma of Insurance Broking | Qualification |