Unit of competency Outline

Date retreived
24/07/2026 12:29 AM AWST

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Negotiate and affect settlement relating to loss situation, damage or injury

Negotiate and affect settlement relating to loss situation, damage or injury

Unit of competency
National Code
FNSILA514
State Code
OCZ38
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
02/02/2021
View on TGA
State Implementation and Classification
Approved Date
22/04/2021
Field of Education
081103 - Insurance And Actuarial Studies
Original Release Date
22/04/2021
Nominal Hours
55
Description
This unit describes the skills and knowledge required to identify available options for settlement and to assist in the settlement process relating to loss situations, damage or injury. This includes resolving disputes in the case of contention within the settlement process and issuing recovery demands.The unit applies to individuals working in the loss adjusting sector who use specialised knowledge, well-developed organisational skills and strong communication skills to effectively negotiate with a range of personnel. 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.
Notes
Elements and Performance Criteria
1. Prepare for negotiation
  • 1.1 Identify issues and options for settlement
  • 1.2 Obtain additional information as required according to identified options
  • 1.3 Carry out cost-benefit analysis on identified options
  • 1.4 Prepare and document information and data needed for settlement meetings according to client instructions, organisational policies and guidelines, legislative and regulatory requirements and codes of practice
2. Facilitate and document negotiations and settlement
  • 2.1 Arrange and conduct meetings of involved parties and facilitate resolution of issues and settlement
  • 2.2 Document and convey outcomes of meetings to client and other required parties
  • 2.3 Make documents and information processed as part of loss adjustment activities available to involved parties as required
3. Manage dispute for client or organisation
  • 3.1 Represent clients or organisational interests where dispute arises and provide required documents and information to other involved parties
  • 3.2 Issue recovery demands as required
No information
No information
Replaces
State Code National Code Title Type
AUR73 FNSILA504 Negotiate and effect settlement Unit of competency
State Code National Code Title Type
BGX8 FNS51420 Diploma of Loss Adjusting Qualification