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 THAT HAS PASSED THE END DATE:

Demonstrate knowledge and insight into regulations and legal requirements that impact on insurance or reinsurance in the international arena

SAQA US ID	UNIT STANDARD TITLE
243174	Demonstrate knowledge and insight into regulations and legal requirements that impact on insurance or reinsurance in the international arena
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	8
REGISTRATION STATUS		REGISTRATION START DATE	REGISTRATION END DATE	SAQA DECISION NUMBER
Passed the End Date - Status was "Reregistered"		2018-07-01	2023-06-30	SAQA 06120/18
LAST DATE FOR ENROLMENT		LAST DATE FOR ACHIEVEMENT
2026-06-30		2029-06-30

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

Reinsurance is usually international in nature and reinsurers and other learners in insurance therefore need to understand the international environment in which reinsurance operates. This Unit Standard is intended to empower learners in insurance or reinsurance to add value to and influence decisions relating to reinsurance. It will be useful for Reinsurers, Underwriters, Insurance Brokers or Intermediaries who do business in countries outside of South Africa.

The qualifying learner is capable of:

Investigating regulations and legal requirements that impact on insurance and reinsurance in countries outside of South Africa.

Explaining the impact of compulsory legal cession on insurance and reinsurance.

Comparing different attitudes to liability internationally.

Discussing insurance related issues of governance in countries of the African Union.

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING

It is assumed that learners are competent in Communication at Level 4.

UNIT STANDARD RANGE

The typical scope of this Unit Standard is:

Issues of governance include, but are not limited to, auditing, separation of authority, company structure and nepotism.

Specific Outcomes and Assessment Criteria:

SPECIFIC OUTCOME 1

Investigate regulations and legal requirements that impact on insurance and reinsurance in countries outside of South Africa.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

Regulations and legal requirements that impact on insurance and reinsurance are researched for Southern African Development Community (SADC) and other Countries in the African Union (AU).

ASSESSMENT CRITERION 2

The relevant insurance legislation of a SADC country and another country in the AU are compared to that in South Africa in terms of impact on insurance and reinsurance.

SPECIFIC OUTCOME 2

Explain the impact of compulsory legal cession on insurance and reinsurance.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

Compulsory legal cession in the treaty programme and original insurance policy are explained for different countries.

ASSESSMENT CRITERION 2

Reasons why some governments require compulsory legal cessions on insurance and reinsurance are discussed with reference to developing and developed economies.

SPECIFIC OUTCOME 3

Compare different attitudes to liability internationally.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

The attitudes of people in different countries to litigation are compared with particular reference to liability insurance.

ASSESSMENT CRITERION 2

The attitudes of the Courts in different countries are compared in cases related to liability insurance.

ASSESSMENT CRITERION 3

The type of cover reinsurers are prepared to provide is discussed with reference to attitudes of people and the Courts to liability in different countries.

SPECIFIC OUTCOME 4

Discuss issues of governance in countries of the African Union.

ASSESSMENT CRITERIA

ASSESSMENT CRITERION 1

The impact of issues of governance on insurance and reinsurance are discussed with reference to the management of risk.

ASSESSMENT CRITERION 2

The capital requirements of different territories are analysed to determine the credibility of insurers.

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

Learners are capable of collecting, organising and critically evaluating information in investigating and comparing regulations and legal requirements that impact on insurance and reinsurance in countries of SADC and the AU.

UNIT STANDARD CCFO COMMUNICATING

Learners are capable of communicating effectively in explaining issues relating to cessions in developing and developed economies.

UNIT STANDARD CCFO SCIENCE

Learners are capable of use technology effectively and critically in accessing information from electronic media.

UNIT STANDARD CCFO DEMONSTRATING

Learners are able to see the world as a set of related systems discussing the relationship between the cover reinsurers are prepared to provide and the attitudes of people and the Courts in different countries.

UNIT STANDARD CCFO CONTRIBUTING

Learners are capable of demonstrating cultural sensitivity in comparing attitudes of people and the Courts to litigation.

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	Passed the End Date - Status was "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.

NONE