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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Mitigate a potential loss and process a claim in trade credit insurance. 
SAQA US ID UNIT STANDARD TITLE
242670  Mitigate a potential loss and process a claim in trade credit insurance. 
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 replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
14978  Process a claim in credit risk insurance  Level 4  NQF Level 04  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for learners who work in trade credit insurance and business to business credit insurance. It will be useful for credit insurance intermediaries, reinsurers, underwriters, claims assessors and consultants. Trade credit insurance should not be confused with consumer credit insurance as embodied in the National Credit Bill.

The qualifying learner is capable of:
  • Gathering information related to a potential loss or claim.
  • Processing a claim.
  • Preparing a proposal for a client.
  • Proposing a course of action for collection, recovery or salvage. 

  • 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:
  • Relevant policy information includes, but is not limited to, buyer information, date of credit limit, amount of credit limit, special conditions, limit of discretion, money in suspense, terms granted, date of notification, special endorsements, goods delivered, the basis for entertaining the claim and reasons for defaulting.
  • Documents required to confirm legal status include, but are not limited to, credit application, ITC report, system, invoices and bank reports.
  • A course of action may include, but is not limited to, debt collection, use of an agency, legal action and liaison with liquidators. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Gather information relating to a potential loss or claim. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Documents required of a client are identified for a specific loss or claim. 

    ASSESSMENT CRITERION 2 
    Documents relating to a potential loss or claim are processed and organised to facilitate interpretation. 

    ASSESSMENT CRITERION 3 
    Relevant documentation is selected and cross referenced to verify information. 

    SPECIFIC OUTCOME 2 
    Process a claim. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The terms and conditions of cover are analysed and used to establish whether the insurer is on risk based on the reconciliation. 

    ASSESSMENT CRITERION 2 
    Reasons why a claim should or should not be paid are identified for a specific claim. 

    SPECIFIC OUTCOME 3 
    Prepare a proposal for a client. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Proposed indemnity is calculated based on the decision to pay, the terms of cover and other evidence. 

    ASSESSMENT CRITERION 2 
    Documentation for repudiation of a claim is prepared according to company policy. 

    SPECIFIC OUTCOME 4 
    Propose a course of action for collection, recovery or salvage. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Different means of mitigating or salvaging of a loss are explained with reference to when each is appropriate. 

    ASSESSMENT CRITERION 2 
    A decision is made about a course of action that is cost effective and ensures maximum recover in the shortest space of time. 

    ASSESSMENT CRITERION 3 
    The distribution of recovered monies and allocation of collection costs are explained in terms of proportionate share of loss. 


    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 
    Learners are able to identify and solve problems in which responses show that responsible decisions using critical thinking have been made in assessing a claim and proposing a course of action for collection, recovery or salvage. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are able to collect, organise and critically evaluate information in gathering information related to a potential loss or claim. 

    UNIT STANDARD CCFO SCIENCE 
    Learners are able to use technology effectively in assessing a claim. 

    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 
    This unit standard replaces unit standard 14978, ' Process a claim in credit risk insurance ', Level 4, 4 credits.

    Search words: trade credit insurance. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  57901   Further Education and Training Certificate: Credit Management  Level 4  NQF Level 04  Reregistered  2023-06-30  FASSET 
    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.
     
    NONE 



    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.