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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Apply technical knowledge and skill to adjust a business interruption claim 
SAQA US ID UNIT STANDARD TITLE
255857  Apply technical knowledge and skill to adjust a business interruption claim 
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  10 
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 who investigate business interruption claims that may be multi-faceted and may require specialist knowledge and expertise, and extensive research and investigation. It will be useful for loss adjusters and senior short term insurance or reinsurance claims negotiators who may be independent parties who can negotiate settlement on behalf of an insurer.

The qualifying learner is capable of:
  • Analysing the generation of revenue of an entity.
  • Applying policy terms and conditions to a loss.
  • Exploring ways to mitigate a loss.
  • Proposing a settlement. 

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

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Insured party may include, but is not limited to, owner, directors, managing director, managers, workers, accountants and professional consultants.
  • Nature of the business includes, but is not limited to clients, customer base, supplier base and contractual relationships.
  • Information includes, but is not limited to, turnover, output, special circumstances, standard turnover, standing charges and variables, fixed expenses, gross profit, Value Added Tax (VAT) records and revenue streams.
  • Trading aspects include, but are not limited to, seasonal variations, methods of costing, variable expenses, varying bases of gross profit, rates of gross profit, opening and closing stocks and accumulated stock.
  • Explanation includes, but is not limited to, indemnity period, trends, estimates, gross profit, adequacy of sum insured, increased costs, additional income and cost of working. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Analyse the generation of revenue of an entity. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The insured party is interviewed to determine the nature of the business. 

    ASSESSMENT CRITERION 2 
    Information from the financial documents of an entity is assessed to determine whether it represents a fair reflection of a business. 

    ASSESSMENT CRITERION 3 
    The trading aspects of a business are analysed to determine elements that influence the financial results of the business. 

    SPECIFIC OUTCOME 2 
    Apply policy terms and conditions to a loss. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Compliance with the material damage proviso is ascertained for a specific event. 

    ASSESSMENT CRITERION 2 
    The components of a loss are analysed and interpreted against the policy terms and conditions. 

    ASSESSMENT CRITERION 3 
    The policy is explained to the insured with reference to the implications and consequences of the loss and a possible way forward. 

    SPECIFIC OUTCOME 3 
    Explore ways to mitigate a loss. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Possible ways to continue trading are explored for a selected entity with specific reference to additional costs and economic limits. 

    ASSESSMENT CRITERION 2 
    Ways of curtailing further loss are suggested for the specific event. 

    SPECIFIC OUTCOME 4 
    Propose a settlement. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The manner in which a business interruption insurance claim has been adjusted, quantified and verified is explained to the insurer. 

    ASSESSMENT CRITERION 2 
    Settlement recommendations are presented in a written report in the required format. 


    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 capable of identifying and solving problems in which responses show that responsible decisions using critical and creative thinking have been made in proposing a settlement for a multi-faceted business interruption claim. 

    UNIT STANDARD CCFO ORGANISING 
    Learners are capable of organising and managing their activities responsibly and effectively in working systematically and accurately to investigate the nature of the business, investigating ways to mitigate the loss and proposing a settlement as speedily as possible under the circumstances. 

    UNIT STANDARD CCFO COLLECTING 
    Learners are capable of collecting, organising and critically evaluating information in analysing the trading aspects of a business and applying policy terms and conditions to a claim. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners are capable of communicating clearly in explaining the policy to the insured, explaining how the claim has been adjusted, quantified and verified to the insurer and in producing a written report. 

    UNIT STANDARD CCFO SCIENCE 
    Learners are capable of using technology effectively and critically in the loss adjusting process by using digital cameras and computer technology for administration and communication with clients and claimants. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Learners are capable of seeing the world as a set of related systems in exploring ways to mitigate a loss. 

    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
    Core  61529   National Certificate: Loss Adjusting  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.
     
    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.