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 of Short Term Insurance to the All Risks section of a commercial policy 
SAQA US ID UNIT STANDARD TITLE
120122  Apply knowledge of Short Term Insurance to the All Risks section of a commercial policy 
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 4  NQF Level 04 
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 for learners in Short Term commercial lines.

The qualifying learner is capable of:
  • Explaining all Risks in the context of commercial insurance.
  • Comparing al risks insurance to other Short-term cover.
  • Explaining the insurance o f electronic equipment.
  • Explaining special needs of different commercial entities.
  • Analyse the all risks cover in a commercial policy. 

  • 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 3. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is insurance where all risks describes a range of products.
  • All risks insurance includes, but is not limited to machinery breakdown, accidental damage and cover included under the All Risks Section of a commercial policy.
  • Special needs insurance includes, but is not limited to, medical, travelling sales people, photographic, television and film, service and repair, exhibitors at exhibitions equipment hire, mobile technical equipment and engineering equipment.
  • Situations where a business may require all risks cover include, but are not limited to machinery breakdown, accidental damage, deterioration of stock and money.
  • Hand held devices include, but are not limited to, laptops, palm tops, Global Positioning Systems (GPS), navigation equipment and other electronic devices. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain All Risks cover in the context of commercial and industrial insurance. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Different uses of the term all risks are explained with examples. 

    ASSESSMENT CRITERION 2 
    Items covered in the All Risks section of a commercial and/or industrial policy are identified with reference to common industry practice. 

    ASSESSMENT CRITERION 3 
    Situations where a business entity may require all risks cover are explained with examples. 

    SPECIFIC OUTCOME 2 
    Compare all risks to other Short Term cover. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The difference between cover under a multi-peril policy and all risks cover is explained with reference to the scope of cover and the premium. 

    ASSESSMENT CRITERION 2 
    The general policy relating to exclusions under All Risks cover is explained with examples. 

    SPECIFIC OUTCOME 3 
    Explain the insurance of electronic equipment. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Items that are covered under the electronics section of a Short Term policy are identified for a business entity. 

    ASSESSMENT CRITERION 2 
    The insurance of hand held or mobile electronic equipment is explained with reference to risk and premium. 

    ASSESSMENT CRITERION 3 
    The insurance of computers is explained with reference to risk and premium in an office environment. 

    ASSESSMENT CRITERION 4 
    Additional cover available under the electronic equipment section is explained with reference to current market practice. 

    SPECIFIC OUTCOME 4 
    Explain the special insurance needs of different commercial entities. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The insurance needs of people in specialised commercial entities are analysed to determine whether all risks cover is necessary. 

    ASSESSMENT CRITERION 2 
    Situations where commercial all risks insurance is recommended are identified with reference to the risk aversion of the individual or entity. 

    SPECIFIC OUTCOME 5 
    Analyse the all risks cover under a commercial policy. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The all risks section of a commercial policy and schedule are analysed to determine the cover. 

    ASSESSMENT CRITERION 2 
    Conditions under which commercial all risks cover will be granted are explained for a specific insurer. 


    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 COLLECTING 
    The learner can collect, organise and evaluate information when matching the needs of a client to the appropriate cover. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner can communicate effectively when explaining the cover under commercial all risks policies. 

    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  66610   Further Education and Training Certificate: Short Term Insurance  Level 4  NQF Level 04  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 
    Elective  57613   Further Education and Training Certificate: Short-Term Risk Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2012-06-30  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. Alcari Learning Centre (Pty) Ltd 
    2. CKP Development Agency (Pty) Ltd. 
    3. De Vries Management & Training Services cc 
    4. EJW Financial Services (Pty) Ltd 
    5. Faisit (Pty) Ltd 
    6. Intelligo Solutions Pty (Ltd) 
    7. Invuya Institute of Learning (Pty) Ltd 
    8. License to Skill cc 
    9. Masifunde Training Centre (Pty) Ltd 
    10. Octomate (Pty) Ltd 
    11. Outsurance Insurance Company Ltd 
    12. Ripple Effect 4 (Pty) Ltd 
    13. RJM Educational Consulting (Pty) Ltd 
    14. Santam Limited 



    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.