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 risk to advise a client on risk acceptance requirements and appropriate cover for a specific business 
SAQA US ID UNIT STANDARD TITLE
242676  Apply knowledge of risk to advise a client on risk acceptance requirements and appropriate cover for a specific business 
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 apply underwriting guidelines to determine conditions under which a business will be acceptable to a selected insurer. It will be useful for Intermediaries, Reinsurers, Underwriters, Consultants, Call Centre Agents, Client Care Advisors and Risk Managers.

The qualifying learner is capable of:
  • Analysing underwriting guidelines to determine whether a potential client is acceptable to a selected insurer.
  • Interpreting an insurer's guidelines to determine conditions necessary for specific risks to be acceptable to an insurer.
  • Assess and verify an authentic risk.
  • Propose a solution to meet the needs of a specific client and the requirements of the insurer. 

  • 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:
  • Adverse risks include, but are not limited to, value, type of risk, industry, exposure, location, security and fire.
  • Evidence to verify the site experience include, but is not limited to, photographs, sketches, documents, voice recordings, building plans, sketch maps/plans, manufacturers' specifications. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse underwriting guidelines to determine whether a potential client is acceptable to a selected insurer. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    An underwriting manual of a selected insurer is analysed to determine risks to which the selected insurer is adverse. 

    ASSESSMENT CRITERION 2 
    Reasons why an insurer is adverse to specific risks are explained with examples. 

    SPECIFIC OUTCOME 2 
    Interpret an insurer's guidelines to determine the conditions necessary for specific risks to be acceptable to an insurer. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Specific risks are checked against an insurer's guidelines to determine additional cover for an adverse risk. 

    ASSESSMENT CRITERION 2 
    Limits on maximum values are analysed for a specific risk and insurer. 

    ASSESSMENT CRITERION 3 
    Reasons why insurers limit risk and exposure are discussed with examples. 

    SPECIFIC OUTCOME 3 
    Assess and verify an authentic risk. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Information obtained from the client is verified on site. 

    ASSESSMENT CRITERION 2 
    Additional information relating to the risk is gathered to inform a risk assessment. 

    ASSESSMENT CRITERION 3 
    Previous risk incidences, losses and claims experience are documented to inform acceptance of the risk and premium. 

    ASSESSMENT CRITERION 4 
    Appropriate evidence is collected to verify the site experience. 

    SPECIFIC OUTCOME 4 
    Propose a solution to meet the needs of a specific client and the requirements of the insurer. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Existing cover, underwriting guidelines, survey information and the proposal are collated to decline the risk or accept the risk and provide a quote. 

    ASSESSMENT CRITERION 2 
    Conditions necessary to accept a specific risk are specified for a selected client. 


    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 proposing a solution to meet the needs of a specific client and the requirements of the insurer. 

    UNIT STANDARD CCFO WORKING 
    Learners are able to work effectively with others as a member of a team, group or organisation in verifying a risk and conducting a site survey. 

    UNIT STANDARD CCFO ORGANISING 
    Learners are able to collect, organise and critically evaluate information in interpreting underwriting guidelines, collecting evidence on site and assessing a risk. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are able to communicate effectively in collating information and proposing a solution to meet the needs of a client. 

    UNIT STANDARD CCFO SCIENCE 
    Learners are able to use technology effectively in collecting appropriate evidence to inform a risk assessment. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are able to see the world as a set of related systems in understanding the why insurers limit exposure to certain risks and impose limits. 

    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 
    Search Words: risk acceptance, business insurance. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    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.