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Evidence Guide: FNSLOSS504B - Negotiate/effect settlement

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

From the Wiki University

 

FNSLOSS504B - Negotiate/effect settlement

What evidence can you provide to prove your understanding of each of the following citeria?

Prepare for negotiation

  1. All relevant issues and options for settlement are accurately identified in advance
  2. Additional information to support identified options is obtained from relevant sources and parties
  3. Cost-benefit analysis is carried out on the various options identified
  4. Settlement options are documented and prepared accurately and in a professional format prior to negotiations, and are in accordance with client or company policy and guidelines and with relevant legislation or codes of practice
All relevant issues and options for settlement are accurately identified in advance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Additional information to support identified options is obtained from relevant sources and parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Cost-benefit analysis is carried out on the various options identified

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Settlement options are documented and prepared accurately and in a professional format prior to negotiations, and are in accordance with client or company policy and guidelines and with relevant legislation or codes of practice

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Attend meetings with involved parties

  1. All information and data needed for settlement meetings are documented and prepared accurately and in a professional format prior to meetings
  2. Meetings of involved parties are arranged and conducted in an orderly, courteous, and professional manner to ensure resolution of issues and settlement
  3. Outcomes of meetings between involved parties are documented accurately and promptly and are conveyed to clients and all other parties
  4. Wherever appropriate, all documents and information processed as part of the loss adjustment activities are made available to other involved parties promptly
All information and data needed for settlement meetings are documented and prepared accurately and in a professional format prior to meetings

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Meetings of involved parties are arranged and conducted in an orderly, courteous, and professional manner to ensure resolution of issues and settlement

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Outcomes of meetings between involved parties are documented accurately and promptly and are conveyed to clients and all other parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Wherever appropriate, all documents and information processed as part of the loss adjustment activities are made available to other involved parties promptly

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Represent clients in cases where disputation arises

  1. Clients or organisational interests are satisfactorily represented and all relevant documents and information are provided to other involved parties
  2. Disputations are managed courteously and professionally to ensure the best and most expeditious outcome for clients or organisations at minimum monetary and other costs
Clients or organisational interests are satisfactorily represented and all relevant documents and information are provided to other involved parties

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Disputations are managed courteously and professionally to ensure the best and most expeditious outcome for clients or organisations at minimum monetary and other costs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

EVIDENCE GUIDE

Assessment of performance requirements in the unit should be undertaken in an industry context. The Evidence Guide identifies the critical aspects, knowledge and skills to be demonstrated to confirm competency for the unit. Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the workplace.

Overview of assessment requirements

To achieve competency in this unit, a person must be able to demonstrate:

thorough knowledge of types and categories of insurance policies, industry codes of practice and relevant legislation

loss adjusting principles and practice

security practices and principles

risk management/minimisation practices

Critical aspects of evidence

Evidence required for demonstration of consistent performance:

Competency is demonstrated by performance of all stated criteria including the Range Statement applicable to the particular workplace environment and should cover all necessary knowledge and skills requirements.

Delivery/assessment relationship to other units:

This unit may be assessed independently, however demonstration of competency the following unit is a prerequisite:

FNSLOSS502B Evaluate collected information.

Assessment requirements

Method of assessment:

For valid and reliable assessment of this unit, evidence should be gathered through a range of methods to indicate consistent performance.

Assessment of this unit of competence will usually include observation of processes and procedures, oral and/or written questioning on required knowledge and skills and other methods as required.

Context of assessment:

Assessment of performance requirements in this unit should be undertaken within the financial services industry context and should cover aspects of personal/financial responsibility and accountability.

Aspects of competency, including the attainment of relevant knowledge and skills, may be assessed in a relevant workplace, a closely simulated work environment, or other appropriate means that clearly meet industry competency requirements.

Resources required for assessment:

This unit may involve simulation equipment, facilities for workplace or simulated environment assessment, availability of qualified assessors.

Required Skills and Knowledge

REQUIRED KNOWLEDGE&SKILLS

Knowledge requirements include:

knowledge of the insurance industry

insurance and contract law principles

relevant legislation and industry codes of practice

types/categories of insurance policies

policy coverage/requirements

loss adjusting principles and practice

risk management/minimisation

claims management

salvage/disposal methods

recovery

subrogation

Skills requirements include:

analytical, evaluative and deductive reasoning

problem solving

presentation skills

planning and organising

record keeping

interview, consultation and negotiation

communication and listening skills

time management

using computer databases, member/client databases and telecommunication devices

Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that will affect performance.

The following variables 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. If bold italicised text is shown in Performance Criteria, details of the text are provided in the Range Statement.

Settlement may include:

reinstatement or replacement

repair

monetary pay out

acceptance or denial of claim

withdrawal of claim

Client or company policy and guidelines may include:

policies and procedures in relation to risks

claims

loss

loss recovery

codes of practice

clerical

information technology and administrative systems

complaints and dispute resolution procedures

Australian Institute of Chartered Loss Adjusters (AICLA) Charter of Objects and Professional Conduct

Relevant legislation may include:

Insurance Contracts Act

Insurance Agents and Brokers Act

Consumer Credit Code

Privacy Act

Contracts Law

Trade Practices Act

industry codes of practice

environmental

building or construction

hazardous materials

occupational health and safety (OH&S)

motor vehicle

Documentation may include:

reference to all evidence/information considered

reasons for adopting/incorporating certain evidence/information preferred over other evidence/information

the basis on which the decision was determined

legal/government/professional/other documents

reports from others such as loss adjusters/assessors/ insurers, medical providers and others

minutes

meeting notes

records of telephone conversations

time sheets

interview records

official/general/other correspondence

Representing clients in disputations may involve:

informal meetings between involved parties

more formal conciliation

formal legal proceedings

Costs may include:

money

time

legal

administrative

professional

reputation