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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Determine risk acceptance criteria
   • Risk acceptance criteria are established to suit type and context of risk within relevant organisation policy
   • Availability of data on acceptance criteria is determined to ensure criteria are valid
2. Seek information
   • Accurate, reliable and up-to-date information is identified and collated in a form suitable for analysis
3. Negotiate reinsurance for extraordinary risks
   • Need for, and level of, reinsurance for the risk is identified
   • Terms of reinsurance are determined from available sources and in accordance with organisation policy
   • Reinsurance is negotiated which provides required protection for anticipated exposure
4. Determine and advise terms and conditions of acceptance
   • Terms of acceptance are established that meet market conditions and are within organisation accepted levels of exposure
   • Terms and conditions are clearly documented and meet the requirements of relevant underwriting guidelines and are determined within delegated authorities

Required Skills

Required skills

highly developed communication skills to negotiate with clients determine and confirm information using questioning and active listening as required liaise with others share information listen and understand use language and concepts appropriate to cultural differences numeracy and IT skills to perform calculations related to achieving required outcomes use computer applications word processing spreadsheet database specific purpose computer systems to assist in achieving required outcomes access and update records electronically access webbased information services welldeveloped literacy skills for policy interpretation and application and to read and interpret documentation from a variety of sources and record and consolidate relevant related information research and analysis skills for accessing and interpreting relevant information and maintaining currency of industry products and services knowledge organisational skills including the ability to plan and sequence work

Required knowledge

nature of industry sector nature of liability relevant actuarial financial and legislative requirements including the Australian Securities and Investments Commission ASIC and the Australian Prudential Regulation Authority APRA relevant medical techniques diseases injuries and terminology types of risk and probability of likely occurrence

Evidence Required

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 highly developed analytical skills maintain and apply a thorough understanding of all aspects of risk assessment in the current industry sector market
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

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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.
Risk assessment criteria refers to:	criteria against which a risk may be measured for acceptability.
Risk factors vary according to:	potential impact on the organisation value and type of produce.
Sources of information may include:	actuaries brokers clients financiers intermediaries lawyers/solicitors medical practitioners product developers reinsurers underwriters.

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