SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Apply knowledge and understanding of SASRIA and similar insurances to mega corporate and global accounts 
SAQA US ID UNIT STANDARD TITLE
243158  Apply knowledge and understanding of SASRIA and similar insurances to mega corporate and global accounts 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This unit standard is intended or Underwriters in Short Term Insurance, Learners at SASRIA Ltd, Intermediaries and Risk Managers who arrange cover for corporate and global accounts.

The qualifying learner is capable of:
  • Evaluating events to determine whether they are covered or excluded under SASRIA policies.
  • Analysing SASRIA coupons to determine major aspects that apply to corporate or global accounts.
  • Applying technical knowledge to analyse the underlying policies in a corporate or global portfolio.
  • Explaining the use of wrap-around cover in conjunction with SASRIA.
  • Explaining the accounting requirements related to SASRIA.
  • Researching global initiatives for SASRIA type cover. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at Level 4. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Legal precedent includes statutes, contract and common law.
  • The range of SASRIA coupons and policies is general, material damage, standing charges, construction, motor and project delay.
  • SASRIA guidelines include discounts and inflations.
  • Underlying policies include domestic multi-peril policies, asset policies and motor policies.
  • Legislation includes, but is not limited to the Protection of Constitutional Democracy Against Terrorism and Related Activities Act (POCDATARA). 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Evaluate events to determine whether they are covered or excluded under SASRIA policies. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Perils covered by SASRIA are explained in terms of legal precedent and commonly accepted industry practice. 

    ASSESSMENT CRITERION 2 
    The relationship between SASRIA cover and South African Insurance Association (SAIA) exclusions is explained with examples. 

    ASSESSMENT CRITERION 3 
    The circumstances surrounding selected events are analysed to determine whether the events are covered by SASRIA or conventional insurance policies. 

    SPECIFIC OUTCOME 2 
    Analyse SASRIA coupons to determine major aspects that apply to corporate or global accounts. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The full range of SASRIA coupons and policies is analysed to determine the complex aspects affecting corporate, global or mega risks. 

    ASSESSMENT CRITERION 2 
    The SASRIA guidelines are analysed to determine the complex aspects affecting corporate, global or mega risks. 

    ASSESSMENT CRITERION 3 
    The advantages and disadvantages of captives are explained with reference to the risk appetite of an organisation, tax, reinsurance, assets and the application or use in SASRIA coupons. 

    SPECIFIC OUTCOME 3 
    Apply technical knowledge to analyse the underlying policies in a corporate or global portfolio. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Different types of underlying insurance policies are analysed to determine their suitability as underlying policies for SASRIA. 

    ASSESSMENT CRITERION 2 
    A selected policy is analysed to determine whether the items insured in the policy are suitable for SASRIA cover. 

    ASSESSMENT CRITERION 3 
    Suggestions are made to deal with items that are not included under SASRIA cover. 

    SPECIFIC OUTCOME 4 
    Explain the use of wrap-around cover in conjunction with SASRIA. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Situations where wrap-around cover is required are explained for each of the SASRIA coupons. 

    ASSESSMENT CRITERION 2 
    Situations in which an insurer or intermediary can apply to SASRIA for dispensation are explained with examples. 

    ASSESSMENT CRITERION 3 
    Markets where wrap-around cover is available are investigated locally and internationally. 

    SPECIFIC OUTCOME 5 
    Explain the accounting requirements related to SASRIA. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The roles of the insured, intermediary and insurer in remitting premiums to SASRIA are explained in terms of the policies in force and legislation. 

    ASSESSMENT CRITERION 2 
    The function of external auditing is explained with reference to compliance with the SASRIA guidelines and the consequences of non-compliance. 

    ASSESSMENT CRITERION 3 
    The application of VAT is explained in SASRIA policies. 

    SPECIFIC OUTCOME 6 
    Research global initiatives for SASRIA type cover. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Ways in which different governments provide cover against terrorism are researched in terms of legislation and entities providing cover. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner is capable of identifying and solving problems in which responses show that responsible decisions using critical thinking have been made in suggesting ways to deal with items that are not included under SASRIA cover. 

    UNIT STANDARD CCFO COLLECTING 
    The learner is capable of collecting, organising and critically evaluating information in analysing SASRIA coupons and researching global initiatives for SASRIA type cover. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner is capable of communicating effectively in explaining the relationship of perils covered by SASRIA to SAIA exclusions. 

    UNIT STANDARD CCFO SCIENCE 
    The learner is capable of using technology effectively in accessing information and researching global initiatives for SASRIA type cover. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner is capable of demonstrating an understanding of the world as a set of related systems in understanding the role SASRIA in corporate and global portfolios and explaining the use of wrap-around cover. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  57918   National Certificate: Short Term Insurance  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  INSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. African Resources & Financial Training (Pty) Ltd 
    2. Invuya Institute of Learning (Pty) Ltd 
    3. Masifunde Training Centre (Pty) Ltd 
    4. Ripple Effect 4 (Pty) Ltd 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.