Australian and New Zealand Institute of Insurance and Finance

2011 Institute Handbook

www.theinstitute.com.au 1 Australian and New Zealand The head office of the Australian and New Zealand Institute of Insurance Institute of Insurance and Finance and Finance is based in Melbourne, Australia. Level 8, 600 Bourke Street All events, courses, qualifications, enrolments and membership services Melbourne Victoria 3000 Australia are administered at head office. Questions or concerns about course enrolment, study or membership should be directed to the Institute’s Telephone (+61 3) 9613 7280 Customer Service team. Facsimile (+61 3) 9642 4166 [email protected] All prices are quoted in Australian dollars and include GST where applicable. www.theinstitute.com.au © Australian and New Zealand Institute of Insurance and Finance. Copyright 2011. The information presented in this Institute Handbook is true and correct at the time of publication.The Australian ABN 56 004 320 076 and New Zealand Institute of Insurance and Finance reserves the right to amend the information A Company Limited by Guarantee contained herein. Any amendments made to the handbook during 2011 will be made available on Incorporated in Victoria Australia the Institute’s website at www.theinstitute.com.au.

2 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 contents

Welcome...... 4 Essentials of Business Interruption Insurance...... 30

Our Services...... 5 Essentials of Managing Risk ...... 30 Essentials of Industrial Special Risks Insurance...... 31 Career Pathways...... 6 Introduction to Reinsurance...... 31 Life Insurance – Distribution...... 6 Commercial Insurance Fundamentals...... 32 Life Insurance – Underwriting and Claims...... 7 Financial Planning...... 8 Business Advantage: Making Regulation Work for You...... 32 General Insurance – Underwriting...... 9 Creating Value in General Insurance...... 33 General Insurance – Claims...... 10 Professional Qualifications...... 36 Loss Adjusting...... 11 Life Insurance...... 36 Insurance Broking...... 12 Certificate IV in Life Insurance...... 36 Risk Management...... 13 Diploma of Life Insurance...... 37 Bridging Pathways...... 14 General Insurance...... 39 Compliance...... 16 Certificate III in General Insurance...... 39 Tier 2 General Insurance – General Advice ...... 16 Certificate IV in General Insurance ...... 41 Tier 2 General Insurance – Personal and General Advice...... 17 Diploma of General Insurance ...... 42 Tier 1 Personal Accident and Sickness Financial Planning...... 46 (General Insurance)...... 17 Diploma of Financial Planning ...... 46 Providing Personal Accident and Advanced Diploma of Financial Planning ...... 47 Sickness Insurance Advice...... 18 Loss Adjusting...... 49 Personal Accident and Sickness Knowledge for Life Insurers...... 18 Certificate IV in Loss Adjusting ...... 49 General Insurance Personal Accident and Sickness Diploma of Loss Adjusting...... 50 Knowledge for Brokers...... 19 Insurance Broking ...... 53 Providing Insurance Advice for Broking Clients...... 19 Certificate III in Insurance Broking...... 53 Tier 1 Insurance Broking (Accelerated Compliance)...... 20 Diploma of Insurance Broking...... 55 Diploma Progression from Tier 1 Risk Management...... 58 Insurance Broking (Accelerated Compliance)...... 20 Diploma of Financial Risk Management...... 58 Providing Advice in Life Insurance (Accelerated Compliance)...... 21 Advanced Diploma of Financial Risk Management...... 59 Financial Planning Compliance...... 21 Personal Injury Management...... 61 Managed Investments (Accelerated Compliance)...... 22 Diploma of Personal Injury Management...... 61

Securities (Accelerated Compliance)...... 22 Studying with the Institute...... 62 Derivatives (Accelerated Compliance)...... 23 Membership...... 66 Superannuation (Accelerated Compliance)...... 23 Student Membership...... 66 Insite...... 24 Membership Benefits...... 66 Workshops and Events...... 25 CIP Membership Levels...... 68 Introduction to General Insurance...... 26 Non-CIP Membership Levels...... 68 Introduction to Liability Insurance...... 26 CIP Fellowship...... 69 Essentials of Life Insurance and Superannuation ...... 27 Membership Administration...... 70 Constructing a compliant Statement of Advice ...... 27 How to Elect to Become a Member...... 70 Essentials of Insurance Law ...... 28 How to Renew Annual Membership...... 71 General Insurance Code of Practice ...... 28 How to Upgrade a Member Level...... 71 Professional Indemnity and Directors and Officers Insurance...... 29 How to Reinstate Membership...... 71 Workers Compensation Case Management...... 29 2011 Academic Calendar...... 72

www.theinstitute.com.au 3 Welcome to the Institute Handbook The Institute’s range of practical and comprehensive financial services qualifications, contained within, are supported by a complete collection of student support services, ensuring that the people who study with us are competent, compliant and confident in their careers.

The Institute is proud to introduce our key product range for 2011. As a Registered Training Organisation (RTO), the Institute’s The Institute is the premier professional membership body for qualifications are developed by industry and education the insurance industry and the leading insurance and financial experts under the Australian Quality Training Framework educator in the Asia-Pacific region. This handbook outlines (AQTF), and are internationally recognised. They incorporate the Institute’s most popular products and services, including: traditional distance learning education with up-to-date best-

• professional qualifications in Life Insurance, General Insurance, practice thinking across a range of specialist fields. Financial Planning, Loss Adjusting, Insurance Broking, During the course of their studies students become Risk Management and Personal Injury Management Student Members of the Institute – taking advantage of all • professional membership and the recognition of skills and of the professional membership benefits on offer and joining knowledge that goes along with the ANZIIF post-nominal more than 15,000 insurance professionals in more than • compliance products that ensure ASIC regulations are met 30 countries. and staff can become productive as soon as possible • workshops across a range of foundation, intermediate On completion of their Institute qualification students and advanced subject areas and industry sectors automatically become fully qualified members and are • Insite, the Institute’s online professional development able to use an ANZIIF post-nominal to be recognised for management tool. their level of knowledge and skills.

4 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 our services The Institute offers a vast range of award-winning services, which are broken up into the following categories:

Education Community Whilst this handbook provides an extensive list of the From high-school education to insurance careers, educational and professional development products we Generation i, and Know Risk, the Institute is continually pursuing offer, it is just the tip of the iceberg. industry-wide initiatives to further enhance the professionalism and profile of the insurance and financial services industry. Visit our website for more information on what else we have to offer. For more information on how you and your company can www.theinstitute.com.au/education get involved, visit our website. www.theinstitute.com.au/community

Consulting Membership Working closely with industry and education experts, the The Institute is the leading professional membership Institute assists insurance and financial services companies association for the insurance industry. Our Certified

in analysing their staff’s training needs and customising Insurance Professionals (CIPs) set the standard of our education and professional development solutions. professionalism in the industry, and are internationally

recognised for their skills and knowledge. services For more information on how we can tailor our products for your company, visit our website. For more information on membership visit our website. www.theinstitute.com.au/consulting www.theinstitute.com.au/membership

www.theinstitute.com.au 5 career pathw ayS Life Insurance - Distribution The following career pathway is designed to make it easier for students to find the most appropriate life insurance education products focussed on distribution. For more information on the Institute’s complete range of life insurance education products, visit www.theinstitute.com.au/life.

Advanced (5+ years experience) University Pathways • Insite (p.24) Deakin University • Institute events, seminars and • Graduate Certificate in Insurance conferences to maintain continuing and Risk Management professional development (p.25) • Pathway to Master in Insurance and Risk Management and Master of Business Administration with specialisation in Insurance

and Risk Management F ello Charles Sturt University • Bachelor of Business (Insurance) w C I P

Intermediate (1-4 years experience) snr. Diploma of • Complex Claims workshop Life Insurance (p.37)

• Insite (p.24) assoc • Institute events, seminars and conferences to maintain continuing

professional development (p.25) i ate C I P assoc Certificate IV in Life Foundation (no experience required) Insurance (p.36) i • Privacy ate • Essential of Life Insurance

and Superannuation (p.27) c i • Insite (p.24) p • Institute events, seminars and conferences to maintain continuing

professional development (p.25) aff RG 146 Life Insurance (p.21) i l i ate all i ed

professional development qualification/compliance membership fellow

6 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 career pathw ayS Life Insurance - Underwriting and Claims The following career pathway is designed to make it easier for students to find the most appropriate life insurance education products focussed on underwriting and claims. For more information on the Institute’s complete range of life insurance education products, visit www.theinstitute.com.au/life.

Advanced (5+ years experience) University Pathways • Insite (p.24) Deakin University • Institute events, seminars and • Graduate Certificate in Insurance conferences to maintain continuing and Risk Management professional development (p.25) • Pathway to Master in Insurance and Risk Management and Master of Business Administration with specialisation in Insurance

and Risk Management F ello Charles Sturt University • Bachelor of Business (Insurance) w C I P

Intermediate (1-4 years experience) snr. Diploma of • Insite (p.24) Life Insurance (p.37)

• Institute events, seminars and assoc conferences to maintain continuing professional development (p.25) i ate C I P assoc Certificate IV in Life Insurance (p.36) Foundation (no experience required) i • Privacy ate • Essential of Life Insurance

and Superannuation (p.27) c i • Insite (p. 24) p • Institute events, seminars and conferences to maintain continuing

professional development (p.25) aff i l i ate career all

i pathways ed

professional development qualification/compliance membership

www.theinstitute.com.au 7 Career Pathways

Financial Planning The following career pathway is designed to make it easier for students to find the most appropriate financial planning education products. For more information on the Institute’s complete range of financial planning education products, visit www.theinstitute.com.au/fp.

Advanced (5+ years experience) University Pathways

• Insite (p.24) Charles Sturt University • Institute events, seminars and conferences to • Graduate Certificate in Financial maintain continuing professional development (p.25) Planning and/or Master in Applied Finance • Bachelor of Business (Insurance) F ello w C I P snr. Advanced Diploma of Intermediate (1-4 years experience) Financial Planning* (p.47)

assoc • Insite (p.24) *Eligible to apply for Certified • Institute events, seminars and conferences to Financial Planner Program maintain continuing professional development (p.25) i Diploma of ate Financial Planning (p.46) C I P assoc

Foundation (no experience required) i ate • Essentials of Life Insurance and Superannuation (p.27)

• Privacy c

• Constructing a Compliant Statement of Advice (p.27) i p • Insite (p.24) • Institute events, seminars and conferences to maintain continuing professional development (p.25) RG 146 Compliance • Financial Planning (p.21)

• Managed Investments (p.22) aff • Life Insurance (p.21) i l

• Derivatives (p.23) i ate • Superannuation (p.23) • Securities (p.22) all i ed

professional development qualification/compliance membership

8 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 General Insurance - Underwriting The following career pathway is designed to make it easier for students to find the most appropriate general insurance education products focussed on underwriting. For more information on the Institute’s complete range of general insurance education products, visit www.theinstitute.com.au/gi.

Advanced (5+ years experience) Fellowship and University Pathways • Responsible Manager Masterclass • Business Advantage: Making Regulation Work For You (p.32) Deakin University • Financial Analysis* • Graduate Certificate in Insurance • Business Interruption Insurance Claims and Risk Management • Creating Value in General Insurance (p.33) • Pathway to Master in Insurance and

• Insite (p.24) Risk Management and Master of F • Institute events, seminars and conferences to maintain continuing Business Administration with ello professional development (p.25) specialisation in Insurance and Risk Management *available from May 2011 w C Charles Sturt University I • Bachelor of Business (Insurance) P snr. Diploma of Intermediate (1-4 years experience) General Insurance (p.42)

• Professional Indemnity and Directors and assoc Officers Insurance (p.29) • Essentials of Industrial Special Risks Insurance (p.31) i

• Introduction to Reinsurance (p.31) ate • Insite (p.24)

• Institute events, seminars and conferences to C I

maintain continuing professional development (p.25) P

Certificate IV in assoc General Insurance (p.41)

Foundation (no experience required) i ate • Intro to General Insurance (p.26)

• Code of Practice (p.28) c i

• Privacy p • Causes and Effects of Underinsurance • Commercial Claims Fundamentals • Intro to Personal Accident and Sickness Certicate III in • Fundamentals of Motor Vehicle Insurance General Insurance (p.39)

• Intro to Liability Insurance (p.26) aff • Essentials of Insurance Law (p.28) rg 146 tier 1 personal

accident and sickness (p.17) i • Commercial Insurance Fundamentals l i

• Essential of Business Interruption Insurance ate • Essentials of Managing Risk rg 146 tier 2 general • Insite (p.24) insurance (p.16) • Institute events, seminars and career conferences to maintain continuing

professional development (p.25) all

i pathways ed

professional development qualification/compliance membership

www.theinstitute.com.au 9 Career Pathways

General Insurance - Claims The following career pathway is designed to make it easier for students to find the most appropriate general insurance education products focussed on claims. For more information on the Institute’s complete range of general insurance education products, visit www.theinstitute.com.au/gi.

Advanced (5+ years experience) University Pathways

• Responsible Manager Masterclass Deakin University • Business Advantage: Making Regulation Work For You (p.32) • Graduate Certificate in • Creating Value in General Insurance (p.33) Insurance and Risk Management • Business Interruption Insurance Claims • Pathway to Master in Insurance and • Insite (p.24) Risk Management and Master of F

• Institute events, seminars and conferences to Business Administration with ello maintain continuing professional development (p.25) specialisation in Insurance and Risk Management w C Charles Sturt University

• Bachelor of Business (Insurance) I P snr. Diploma of General Insurance (p.42)

Intermediate (1-4 years experience) assoc • Fraud Awareness • Professional Indemnity and Directors and

Officers Insurance (p.29) i • Essentials of Industrial Special Risks Insurance (p.31) ate • Essentials of Managing Risk (p.30) C

• Insite (p.24) I P • Institute events, seminars and conferences to maintain continuing professional development (p.25)

Certificate IV in assoc General Insurance (p.41)

Foundation (no experience required) i ate • Intro to General Insurance (p.26)

• Code of Practice (p.28) c i

• Privacy p • Causes and Effects of Underinsurance • Commercial Claims Fundamentals • Intro to Personal Accident and Sickness Certicate III in • Fundamentals of Motor Vehicle Insurance General Insurance (p.39)

• Intro to Liability Insurance (p.26) aff • Essentials of Insurance Law (p.28) rg 146 tier 1 personal

• Commercial Insurance Fundamentals accident and sickness (p.17) i l i

• Essential of Business Interruption Insurance ate • Insite (p.24) rg 146 tier 2 general • Institute events, seminars and insurance (p.16) conferences to maintain continuing professional development (p.25) all i ed

professional development qualification/compliance membership

10 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Loss Adjusting The following career pathway is designed to make it easier for students to find the most appropriate loss adjusting education products. For more information on the Institute’s complete range of loss adjusting education products, visit www.theinstitute.com.au/loss.

Advanced (5+ years experience) University Pathways • Insite (p.24) Charles Sturt University • Institute events, seminars and • Bachelor of Business (Insurance) conferences to maintain continuing professional development (p.25) F ello w C I P

Intermediate (1-4 years experience) snr. Diploma of • Essentials of Industrial Special Risks Insurance (p.31) Loss Adjusting (p.50)

• Essentials of Business Interruption Insurance (p.30) assoc • Essentials of Managing Risk (p.30) • Fraud Awareness

• Insite (p.24) i ate • Institute events, seminars and conferences to

maintain continuing professional development (p.25) C I P assoc Certificate IV in Foundation (no experience required) Loss Adjusting (p.49) i • Intro to General Insurance (p.26) ate • Commercial Insurance Fundamentals

• Intro to Liability Insurance (p.26) c i • Fundamentals of Motor Vehicle Insurance p • Insite (p.24) • Institute events, seminars and conferences

to maintain continuing professional aff development (p.25) i l i ate career all

pathways i ed

professional development qualification/compliance membership

www.theinstitute.com.au 11 Career Pathways

Insurance Broking The following career pathway is designed to make it easier for students to find the most appropriate insurance broking education products. For more information on the Institute’s complete range of insurance broking education products, visit www.theinstitute.com.au/broking.

Advanced (5+ years experience) University Pathways • Responsible Manager Masterclass Deakin University • Business Advantage: Making Regulation Work For You (p.32) • Graduate Certificate in Insurance • Marketing in Insurance Business and Risk Management • Financial Analysis* • Master in Insurance and Risk • Creating Value in General Insurance (p.33) Management and Master of Business Administration • Insite (p.24) with specialisation in Insurance

• Institute events, seminars and conferences to maintain and Risk Management F continuing professional development (p.25) ello Charles Sturt University *available from May 2011 • Bachelor of Business (Insurance) w C I P

Intermediate (1-4 years experience) snr. Diploma of Broking (p.55) • Essentials of Industrial Special Risks Insurance (p.31)

• Professional Indemnity and Directors and assoc Officers Insurance (p.29) • Essentials of Managing Risk (p.30) i

• Insite (p.24) ate • Institute events, seminars and conferences to maintain

continuing professional development (p.25) C I P assoc

Foundation (no experience required) i ate • Code of Practice (Broking) • Code of Practice (General Insurance) (p.28)

c

• Privacy i p • Intro to General Insurance (p.26) • Causes and Effects of Underinsurance • Essential of Business Interruption Insurance (p.30) • Commercial Insurance Fundamentals rg 146 tier 1 • Intro to Personal Accident and Sickness insurance broking (p.17) aff • Essentials of Insurance Law (p.28) Certificate III

• Intro to Liability Insurance (p.26) i

Insurance broking (p.39) l

• Fundamentals of Motor Vehicle Insurance i ate • Insite (p.24) rg 146 tier 2 • Institute events, seminars and general insurance (p.16) conferences to maintain continuing professional development (p.25) all i ed

professional development qualification/compliance membership

12 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Risk Management The following career pathway is designed to make it easier for students to find the most appropriate risk management education products. For more information on the Institute’s complete range of financial services education products, visit www.theinstitute.com.au/risk.

University Pathways Advanced (5+ years experience) Deakin University • Insite (p.24) • Graduate Certificate in Insurance • Institute events, seminars and and Risk Management conferences to maintain continuing • Pathway to Master in Insurance and professional development (p.25) Risk Management and MBA with specialisation in Insurance and Risk Management Charles Sturt University F

• Bachelor of Business (Insurance) ello • Graduate Certificate/Graduate Diploma/Master of Management w C I P

Intermediate (1-4 years experience) snr. • Fraud Awareness Advanced diploma • Insite (p.24) of FINANCIAL risk

assoc • Institute events, seminars and management (p.59) conferences to maintain continuing professional development (p.25) Diploma of FINANCIAL

risk management (p.58) i ate C I P assoc

Foundation (no experience required)

• Essentials of Managing Risk (p.30) i ate • Insite (p.24)

• Institute events, seminars and c

conferences to maintain continuing i professional development (p.25) p aff i l i ate career all

i pathways ed

professional development qualification/compliance membership

www.theinstitute.com.au 13 bridging pathways

14 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 The following diagrams illustrate bridging products which allow students to progress from one type of ASIC compliance to another, or from compliance to a full qualification. These cost-effective bridging products ensure that students can make the most of the studies they have already undertaken in progressing their qualifications.

For more information on the Institute’s bridging pathways, visit www.theinstitute.com.au/bridging_pathways.

current bridging module outcome compliance level

FSB011 Providing Insurance Tier 1 Personal Accident and Advice for Broking Clients (p.19) Tier 1 Insurance Broking Sickness (General Insurance) A$415 / 15-20 hours

FSI012 General Insurance Personal Accident Tier 1 Personal Accident and Tier 1 Insurance Broking and Sickness Knowledge for Brokers (p.19) Sickness (General Insurance) A$415 / 7 weeks

FSI012L Personal Accident and Tier 1 Personal Accident and RG 146 Life Insurance Sickness Knowledge for Life Insurers (p.18) Sickness (General Insurance) A$415 / 7 weeks

Tier 1 insurance Broking to Diploma of Tier 2 general insurance to Certificate IV Insurance Broking in General Insurance

FSB500 Tier 1 Insurance Broking (Accelerated Compliance) Tier 2 General Insurance - Personal and OR General Advice Tier 1 Insurance Broking from other providers

FSI011 Providing Personal Accident and Sickness Insurance Advice (p.18) FSB510 Diploma Progression from Tier 1 Insurance A$265 / 15-20 hours Broking (Accelerated Compliance) (p.28) A$425 / 7 weeks FSI402 Insurance Law and Regulation A$910 / 12 weeks FSB503 Claims Handling for Brokers

A$910 / 12 weeks Tier 1 Personal Accident and Sickness (General Insurance) compliance achieved FSB504 Risk Assessment and Management A$910 / 12 weeks FSI403 Insurance Products A$910 / 12 weeks

FSB505 Managing Broking Operations A$910 / 12 weeks FSI404 Introduction to Underwriting OR A$910 / 12 weeks FSB507 Insurance Products B A$910 / 12 weeks ridging FSI405 Claims Handling A$910 / 12 weeks

Diploma of Insurance Broking (p.53) pathways

Certificate IV in General Insurance(p.41)

www.theinstitute.com.au 15 compliance ASIC RG 146 Compliance Tier 2 General Insurance – General Advice The Financial Services Reform Act 2001 mandates that licensees and principals must ensure that their financial product advisers are competent, skilled and experienced, and receive adequate training to provide financial services advice. GI [FSI015] Australian Securities and Investments Commission Regulatory Guide 146 (ASIC RG 146) sets out minimum training Fee standards for financial product advisers, either at Tier 1 or Tier Workshop Price is dependent on location and 2 level – appropriate to the complexity of their activities and numbers. Contact an Institute their clients’ needs. For further details refer to the ASIC website Business Relationship Manager for at www.asic.gov.au. more details. online A$435 As a Registered Training Organisation (RTO), the Institute’s compliance training programs are listed on the ASIC Training DURATION Workshop Online Register, which can be accessed directly via the ASIC website. Full-day 6 hours Tier 1 and Tier 2 compliance DELIVERY method Workshop or online There are two levels of compliance within ASIC RG 146, outcOme ASIC Tier 2 General Insurance – Tier 1 and Tier 2. General Advice compliance

Tier 1 compliance A requirement for anyone providing general advice to retail Tier 1 compliance is compulsory for those giving advice in clients about general insurance products and services (other than personal accident and sickness), this program insurance broking, life insurance, superannuation, financial covers the skills and knowledge required to obtain ASIC planning, managed investments, derivatives, securities and Tier 2 General Insurance – General Advice compliance. personal accident and sickness products. Both the online and facilitator-led programs feature extensive case studies and interactivity to give students a Tier 2 compliance chance to apply the skills and knowledge gained. Tier 2 General Insurance compliance is required for those Topics include who provide advice on all general insurance products except personal accident and sickness. • the insurance environment • the legal environment More information • principal legislation For more information on the Institute’s range of compliance • General Insurance Code of Practice • privacy solutions, visit www.theinstitute.com.au/compliance. • insurance processes. More information

For more information on this and other compliance solutions, visit www.theinstitute.com.au/compliance.

16 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Tier 2 General Insurance Tier 1 Personal Accident and – Personal and General Advice Sickness (General Insurance)

GI [FSI020] GI [FSI401]+ [FSI402]

FEE FEE A$910

Workshop Price is dependent on location and DURATION Two modules: Each Study Period numbers. Contact an Institute lasts 12 weeks. (Students are able Business Relationship Manager for to study more than one module per more details. Study Period).

online A$605 DELIVERY method Distance learning

DURATION Workshop Online outcOme ASIC Tier 1 Personal Accident and Sickness (General Insurance) Full-day 6 hours compliance DELIVERY method Workshop or online

outcome ASIC Tier 2 General Insurance – Students can obtain ASIC Tier 1 Personal Accident and Personal and General Advice Sickness (General Insurance) compliance by studying the compliance first two modules of the Institute’s Certificate IV in General Insurance.

A requirement for anyone providing personal advice Modules (including general advice) to retail clients about general FSI401 Serving the Customer insurance products and services (other than personal accident and sickness), this program covers the skills and Explains the impact of the economic environment on knowledge required to obtain ASIC Tier 2 General Insurance financial services products, explores creating a – Personal and General Advice compliance. relationship with the client in order to establish general insurance needs and thereby identify appropriate products. Both the online and facilitator-led programs feature extensive case studies and interactivity to give students a FSI402 Insurance Law and Regulation chance to apply the skills and knowledge gained. Deals with legal framework, laws, regulations, Code of Topics include Practice and relevant Acts that govern the general insurance industry in Australia. It also covers health and • the financial environment safety in the workplace. • the insurance environment • the legal environment More information • principal legislation For more information on this and other compliance • General Insurance Code of Practice solutions, visit www.theinstitute.com.au/compliance. • privacy • insurance processes • customer service. More information

For more information on this and other compliance solutions, visit www.theinstitute.com.au/compliance. COMPLIANCE

www.theinstitute.com.au 17 Compliance

Providing Personal Accident Personal Accident and and Sickness Insurance Advice Sickness Knowledge for Life Insurers

GI [FSI011] GI LI [FSI012L]

FEE A$265 FEE A$415

DURATION 15–20 hours self-paced learning DURATION 7 weeks

DELIVERY method Distance learning DELIVERY method Distance learning

Prerequisite ASIC Tier 2 General Insurance – PREREQUISITE ASIC RG 146 Life Insurance Personal Advice compliance compliance

outcOme Credit towards FSI401 Serving outcOme ASIC Tier 1 Personal Accident the Customer and Sickness compliance

Providing credit towards the module FSI401 Serving the This seven-week course offers those who have already Customer, the completion of this bridging module provides obtained RG 146 Life Insurance compliance with the students with a pathway into the Institute’s Certificate IV in Institute a bridge to Tier 1 Personal Accident and Sickness General Insurance. compliance. It builds on the knowledge and skills already acquired from FSL500 and focuses exclusively on Topics include sickness and accident insurance from a life insurance • personal accident and sickness insurance products adviser’s perspective. • pre-existing conditions Topics include • the role of the insurance advisor • personal accident and sickness product profile • establishing the client relationship • responsibilities of the insured • identifying and analysing customer needs • group personal accident and sickness cover • developing, presenting and negotiating solutions • personal accident and sickness cover in context • providing ongoing service. • general insurance law. Completion of FSI401 Serving the Customer and FSI402 Insurance Law and Regulation are required for More information Tier 1 Personal Accident and Sickness compliance. For more information on this and other compliance More information solutions, visit www.theinstitute.com.au/compliance.

View the diagram at the bottom of page 15 to see how this module fits in with the bridging pathway from Tier 2 General Insurance to the Certificate IV in General Insurance. For more information on this and other compliance solutions, visit www.theinstitute.com.au/compliance.

18 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 General Insurance Personal Providing Insurance Advice Accident and Sickness for Broking Clients Knowledge for Brokers

GI IB [FSI012] IB GI [FSB011]

FEE A$415 FEE A$415

DURATION 7 weeks DURATION 15–20 hours self-paced learning over a maximum of 40 days DELIVERY method Distance learning DELIVERY method Distance learning PREREQUISITE ASIC Tier 1 Insurance Broking compliance PREREQUISITE ASIC Tier 1 Personal Accident and Sickness (General Insurance) outcOmeS • ASIC Tier 1 Personal Accident compliance and Sickness (General Insurance) compliance OUTCOMEs • ASIC Tier 1 Insurance Broking • Credit towards FSI401 Serving compliance the Customer • Credit towards FSB501 Providing Customer Advice This seven-week course has been designed to provide a • Credit towards FSB502 bridge from Tier 1 Insurance Broking compliance to Tier 1 Insurance Law and Regulation for Personal Accident and Sickness (General Insurance) Brokers (conditions apply– compliance. On successful completion of this module, see below) students will be eligible for a credit for FSI401 Serving the Customer (from the Institute’s Certificate IV in General The completion of bridging module FSB011 Providing Insurance and obtain Tier 1 Personal Accident and Insurance Advice for Broking Clients, provides students Sickness (General Insurance) compliance. with a pathway from Tier 1 Personal Accident and Sickness (General Insurance) compliance to Tier 1 Insurance Topics include Broking compliance and into the first module in the • personal accident and sickness insurance Institute’s Diploma of Insurance Broking (FSB501 Providing • establishing relationships with customers Customer Advice). • the role of the insurance adviser Students who have previously studied FSI402 Insurance • disclosure Law and Regulation, from the Institute’s Certificate IV in General Insurance, will also be given credit towards the • identifying and analysing customer needs second module of the Institute’s Diploma of Insurance • developing, presenting and implementing solutions. Broking (FSB502 Insurance Law and Regulation for Brokers). More information Topics include

For more information on this and other compliance • advising clients solutions, visit www.theinstitute.com.au/compliance. • broking operations • Code of Practice and dispute resolution • providing advice on changes to client insurances • monitoring and reviewing service performance. More information

For more information on this and other compliance solutions, visit www.theinstitute.com.au/compliance. COMPLIANCE

www.theinstitute.com.au 19 Compliance

Tier 1 Insurance Broking Diploma Progression (Accelerated Compliance) from Tier 1 insurance broking (accelerated compliance)

IB [FSB500] IB [FSB510]

FEE A$1,090 FEE A$415

DURATION 7 weeks DURATION 7 weeks

DELIVERY method Online DELIVERY method Online

outcOme ASIC Tier 1 Insurance Broking PREREQUISITE ASIC Tier 1 Insurance Broking compliance compliance

OUTCOME Credit towards the first two Tier 1 Insurance Broking (Accelerated Compliance) is a modules of the Diploma of comprehensive and cost-effective compliance solution that Insurance Broking is designed to have customer-facing staff suitably qualified (FSB501 and FSB502). to provide insurance broking advice within seven weeks. Topics include This seven-week course offers those who have already obtained Tier 1 Insurance Broking compliance with the • financial and insurance markets Institute a bridge into the Diploma of Insurance Broking so • being a broker that they can continue their studies and achieve Senior • identifying and assessing client needs Associate membership of the Institute – the benchmark • developing an insurance program and advising clients of industry professionalism. • managing insurance placements Topics include • managing client information and providing ongoing service • the economic and financial services environment • codes of practice and dispute resolution • financial services legislation and regulations • monitoring and reviewing service performance. • professional practice for brokers • managing insurance placements More information • identifying significant risk changes to broking For more information on this and other compliance client insurances solutions, visit www.theinstitute.com.au/compliance. • occupational health and safety. More information

For more information on the pathway from Tier 1 Insurance Broking to the Diploma of Insurance Broking refer to page 15. For other compliance solutions, visit www.theinstitute.com.au/compliance.

20 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Providing Advice in Financial Planning Compliance Life Insurance (Accelerated Compliance)

LI FPIB [FSL500] FPIB [FSP511]

FEE A$1,090 FEE A$990

DURATION 7 weeks DURATION 12 weeks

DELIVERY method Online DELIVERY method Online

OUTCOME ASIC RG 146 Life Insurance OUTCOME ASIC RG 146 Financial Planning compliance compliance

Providing Advice in Life Insurance (Accelerated The Institute’s Financial Planning Compliance course Compliance) is a comprehensive and cost-effective provides students with ASIC RG 146 Financial Planning compliance solution that is designed to have customer- compliance over a period of 12 weeks. facing staff suitably qualified to provide life insurance advice within seven weeks. Topics include Topics include The practice of financial planning • working in the industry • establishing relationships with clients • the financial planning process • analysing clients’ needs, objectives, financial situations • financial services guide and risk profiles • privacy statements • developing appropriate strategies and solutions • what is compliance? • maintaining necessary documentation and • key obligations of the licensee statutory record • practising as an ethical professional • identifying changes and implications of laws • the legal environment. and regulations. More information The economic environment • drivers influencing the economy Financial Planning Compliance • the economy and financial markets Students who have successfully completed FSP511 • risk vs. return trade-off Financial Planning Compliance can enrol in this module at • portfolio blending. a reduced rate of $400 as part of the Institute’s Financial Planning Compliance product range. More information Estate planning and business succession planning on the related financial planning compliance products in • estate planning process this range can be found in the next column and on pages 22 – 23. • business succession planning process • wills Students who successfully complete this course can progress to the Certificate IV in Life Insurance and the • powers of attorney Diploma of Life Insurance. • trusts. For more information on this and other compliance Government assistance solutions, visit www.theinstitute.com.au/compliance. • payment and services • means testing • waiting periods.

Providing financial planning advice • the six-step financial planning process in detail • risk profiling • strategies and developing recommendations • producing compliant statements of advice • disclosure and disclaimers • client review process.

More information COMPLIANCE

Students who successfully complete this course can progress to the Diploma of Financial Planning. For more information on this and other compliance solutions, visit www.theinstitute.com.au/compliance.

www.theinstitute.com.au 21 Compliance

Managed Investments Securities (Accelerated Compliance) (Accelerated Compliance)

FP [FSP512] FP [FSP513]

FEE A$400 FEE A$400

DURATION 7 weeks DURATION 7 weeks

DELIVERY method Online DELIVERY method Online

PREREQUISITE FSP511 Financial Planning PREREQUISITE FSP511 Financial Planning Compliance Compliance

OUTCOME ASIC RG 146 Managed outcOme ASIC RG 146 Securities Investments compliance compliance

For students that have already obtained ASIC RG 146 For students that have already obtained ASIC RG 146 Financial Planning compliance, the Institute’s Managed Financial Planning compliance, the Institute’s Securities Investments (Accelerated Compliance) course provides (Accelerated Compliance) course provides students with students with ASIC RG 146 Managed Investments ASIC RG 146 Securities compliance in just seven weeks. compliance in just seven weeks. Topics include Topics include Introduction to the securities market Understanding managed investments • what is a security? • what is a managed investment? • calculating returns • types of funds • advantages and disadvantages of securities • asset classes • building an investment portfolio • advantages and disadvantages • trends • building an investment portfolio • governance • investment risk. • disclosure and disclaimers • maintaining product knowledge. Regulation • governance Using debt and equity securities • product disclosure documents • risks and benefits of debt security investments • maintaining product knowledge. • capital gains.

The range of managed investments Using geared securities • tax and legal structure • tax and legal structure • investment choice. • margin lending.

Investment risk Basic securities investment strategies • risks of managed investments • different contracts • indicators. • investing in futures • investing in Contracts for Differences. Fees and taxation • fees and disclosure Listing on the stock exchange • tax treatment of managed investments. • advantages and disadvantages of listing on the stock exchange Analysing and selecting managed investments • tax treatment of managed investments. • manager blending. Regulation and compliance in the securities industry More information • prospectus and their legal requirements For more information on this and other compliance • disclosure solutions, visit www.theinstitute.com.au/compliance. • securities industry regulatory powers • failed trades. More information

For more information on this and other compliance solutions, visit www.theinstitute.com.au/compliance.

22 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Derivatives Superannuation (Accelerated Compliance) (Accelerated Compliance)

FP [FSP514] FP [FSP515]

FEE A$400 FEE A$400

DURATION 7 weeks DURATION 7 weeks

DELIVERY method Online DELIVERY method Online

PREREQUISITE FSP511 Financial Planning Prerequisite FSP511 Financial Planning Compliance Compliance

outcOme ASIC RG 146 Derivatives OUTCOME ASIC RG 146 Superannuation compliance compliance

For students that have already obtained ASIC RG 146 For students that have already obtained ASIC RG 146 Financial Planning compliance, the Institute’s Derivatives Financial Planning compliance, the Institute’s Superannuation (Accelerated Compliance) course provides students with (Accelerated Compliance) course provides students with ASIC RG 146 Derivatives compliance in just seven weeks. ASIC RG 146 Superannuation compliance in just seven weeks. Topics include Topics include Introduction to derivatives • what is a derivative? The importance of retirement planning • short-term interest rate derivatives • what is superannuation? • long-term interest rate derivatives. • compare super and non-super products • define a complying and non-complying fund Derivatives in detail • different types of superannuation entities. • options - defining options, buying and selling options, the value of options and option pricing Superannuation, regulation and legislation • futures - defining futures contracts (exchange-traded • early release of superannuation derivatives), buying and selling futures, forward • rules governing contributions and treatment contracts and pricing of superannuation. • swaps - defining swaps, the value of swaps (securing the declining value of another company’s assets Fund design and tax aspects through the commitment of shares) and pricing. • tax components of superannuation • tax treatment of employer-sponsored superannuation. Equity derivatives • understanding the use of futures equities Lump sums and income streams • different types of warrants • various options of income streams. • advantages/disadvantages of swaps and exchange-traded options Strategic retirement planning • over-the-counter options. • the steps involved in planning financially for retirement • retirement income needs for individuals Clearing and trade legislation • appropriate retirement strategies to meet client goals • role of the clearing house in the futures industry • factors that can affect funds available at retirement • investing in futures • providing advice in superannuation and retirement • the main features of the SFEs SPAN margining system planning • legal aspect of derivatives trading. • produce a compliant Statement of Advice.

Taxation of derivatives More information • the taxation implications of swaps, options and FRAs For more information on this and other compliance • relevant taxation principles in order to identify the solutions, visit www.theinstitute.com.au/compliance. taxation implications of various instruments. More information COMPLIANCE For more information on this and other compliance solutions, visit www.theinstitute.com.au/compliance.

www.theinstitute.com.au 23 Online Professional Development for the Insurance Industry

Learn members non-members The new Insite offers a huge variety of learning activities to maintain Fee A$390 A$765 knowledge and skills through constantly updated quizzes, case studies and articles relevant to the modern insurance professional.

Maintaining compliance and ensuring that knowledge and Topics covered include: skills are up-to-date can be an expensive and time-consuming • Insurance broking process. Attendance at conferences, in-house training, • Business skills workshops, and other professional development activities is costly and take staff away from the business. Tracking and • Insurance claims maintenance of professional development records is also a • Commercial lines insurance time-consuming administrative process. • Financial planning • General interest Through Insite, Users can: • Health and medical • Maintain up-to-date knowledge and skills wherever there • Law and regulation is Internet access. • Liability insurance • Create their own personal learning plans. • Life insurance • Track their personal progress against company or individual • Loss adjusting learning plans. • Marine insurance • Generate regular reports on their professional development • Personal lines insurance progress in line with organisational and professional • Reinsurance membership requirements. • Risk management Through Insite, Managers can: • Superannuation • Insurance underwriting • Ensure all staff within the organisation maintain compliance with regulatory and professional membership requirements. • Workers compensation

• Set organisation or department-wide development plans – Plan and track creating extensive plans which include Insite activities, With Insite it is easy to create an activity plan for yourself or your in-house training and external development events such staff to ensure that all knowledge and compliance requirements as conferences and seminars. are met. Progress is then easily tracked in real time. • Track and report against their company’s compliance and training requirements – allowing them to easily manage Report and monitor the professional development from the entire Keeping professional development records and reporting organisation down to any individual. on staff progress can be a major drain on time and resources. Insite automatically records staff progress and makes it easy to • Track and monitor long-term training and development generate reports for distribution to management and regulators. records for archive and analysis.

Insite offers a flexible and efficient online professional ANZIIF Member Discount development alternative, allowing you to plan, deliver Insite allows ANZIIF members, regardless of their location, to access and monitor your staff’s training while they maintain their a world of professional development opportunities. To ensure that professional development and compliance requirements professional development is always within easy reach, all ANZIIF members at their own pace – all without leaving their desk. receive a discount of almost 50 per cent on an Insite subscription.

Subscribe For more information and to arrange a trial, visit www.theinstitute.com.au/insite

24 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 workshops and events From workshops, seminars, conferences and forums, to networking and social functions.

The Institute holds more than 200 professional development Workshops and short courses events each year – attended by professionals from across the insurance and financial services industry. Available throughout Australia and New Zealand, the Institute’s workshops assist students in gaining a practical working knowledge in These events include: their field of insurance and finance. These courses are also an invaluable • ANZIIF/AICLA Claims Convention refresher for those who would like to sharpen their skills and provide • Executive Breakfasts experienced staff with the opportunity to maintain their knowledge and help them gain that professional edge. These workshops include: • New Zealand Claims Conference • New Zealand Fraud Conference Foundation workshops: • New Zealand Life Insurance Conference • Causes and Effects of Underinsurance • Northern Regional Conference • Commercial Insurance Fundamentals • Reinsurance Study Course • Commercial Claims Fundamentals • Southern Regional Conference • Constructing a compliant Statement of Advice (SoA) • State Annual Lunches • Essentials of Business Interruption Insurance • Sunshine Seminar • Essentials of Insurance Law • The Australia and New Zealand Insurance Industry Awards • Essentials of Life Insurance and Superannuation • Women in Insurance Events. • Fundamentals of Motor Vehicle Insurance For more information about the events and conferences • Introduction to General Insurance held by the Institute, visit www.theinstitute.com.au/events. • Introduction to Liability Insurance • Introduction to Personal Accident and Sickness Generation i • General Insurance Code of Practice The key focus of the Generation i program is to engender a • Professional Indemnity and Directors’ and Officers’ Insurance stronger sense of community in young insurance professionals. • Essentials of Managing Risk. The program achieves this primarily through a range of regular professional development events that make it easy for like- Intermediate workshops: minded professionals to meet and engage with people from • Essentials of Industrial Special Risks Insurance other facets of the industry – to learn, network and develop • Introduction to Reinsurance relationships that will continue to benefit them throughout • Professional Indemnity and Directors’ and Officers’ Insurance their professional lives. • Fraud Awareness. Generation i events represent the perfect opportunity, either through event sponsorship or staff participation, to place Advanced workshops: your company front and centre as a progressive supporter • Business Advantage: Making Regulation Work for You of talent and an employer of choice with this vitally important • Creating Value in General Insurance

demographic. WORKSHOPS AND EVENTS • Industrial Special Risks Masterclass Generation i committees operate in all states across • Professional Indemnity Masterclass Australia. These committees are responsible for the strategic • Responsible Manager Masterclass direction of the program and offer a valuable insight into this • Business Interruption Claims Management. industry demographic for those organisations involved in the program. For more information about all of the workshops held by the For more information and to get involved in Generation i, Institute, please visit www.theinstitute.com.au/workshops. visit www.theinstitute.com.au/gen-i.

www.theinstitute.com.au 25 Workshops and Events

Introduction to Introduction to General Insurance Liability Insurance

GI WORKSHOP GI IB WORKSHOP

Members Non-members Members Non-members

FEE A$590 A$825 FEE A$300 A$415

DURATION Full-day DURATION Half-day

DELIVERY Facilitated workshop DELIVERY Facilitated workshop

CIP Points 6 CIP Points CIP Points 3 CIP Points

LEVEL Foundation LEVEL Foundation

LOCATIONS Melbourne, Sydney, Perth LOCATIONS Melbourne, Sydney, Auckland

Introduction to General Insurance is a one-day facilitated The Introduction to Liability Insurance workshop provides workshop created to enable participants to develop a participants with a basic knowledge and understanding of broad understanding of the key concepts of insurance and liability insurance and the opportunity to apply their the insurance sector within Australia. learning to work-based scenarios. Who should attend The content covers the need for liability insurance, its purpose, main benefits and particular features. Key This workshop is designed for new entrants to the general underwriting and claims evaluation issues are also insurance sector, those contemplating a career in general identified and explained. insurance or those working in any capacity in the financial services, or other sectors who wish to gain a broad Who should attend knowledge and understanding of general insurance. This program is suitable for new entrants to the insurance Learning outcomes sector and those considering a career path encompassing liability insurance. Upon completion of the program, participants should be able to define and explain: Learning outcomes • insurance and the concept of spreading risk Upon completion of the program, participants should be • the key players in the Australian insurance industry able to identify and explain: • the key legislative requirements and regulations • the purpose of liability insurance governing the insurance industry • the various types of liability insurance • the key roles within the insurance industry • the key considerations for underwriting • the main classes of insurance liability insurance • current challenges and opportunities in the • the general principles applying to liability claims. insurance industry. More information More information For more information on this and other Institute For more information on this and other Institute workshops, workshops, visit www.theinstitute.com.au/workshops. visit www.theinstitute.com.au/workshops.

26 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Essentials of Life Insurance Constructing a compliant and Superannuation Statement of Advice

LI FP WORKSHOP FP WORKSHOP

Members Non-members Members Non-members

Fee A$300 A$415 Fee A$300 A$415

DURATION Half-day DURATION Half-day

DELIVERY Facilitated workshop DELIVERY Facilitated Workshop

CIP Points 3 CIP Points CIP Points 3 CIP points

LEVEL Foundation LEVEL Foundation

LOCATIONS Melbourne, Sydney LOCATIONS Available throughout Australia

This workshop provides an introduction to life insurance in The Institute’s Constructing a compliant Statement of Australia including the role and fundamental concepts of Advice half-day workshop provides students with the basic superannuation. knowledge and understanding required to construct a compliant statement of advice within Australia. Who should attend Who should attend This program is suitable for participants who are undertaking or, about to undertake, a career path This workshop is ideal for all practice staff that require encompassing life insurance and superannuation. knowledge and an understanding of the fundamentals of the financial planning steps. Learning outcomes Learning outcomes Upon completion of the workshop, participants should be able to: This workshop has been developed to enable participants • explain recent trends in life insurance and the key to achieve the following outcomes: underwriting and claims management issues • explain the importance of the interview process in • describe life insurance and superannuation customers providing client data to build a complete client profile • explain major risks and how they can be insured against • explain the professional and legal underpinnings of the under life policies suitability rule and the reasonable basis for advice • describe the key features and benefits of various types • describe the steps to provide a compliant SoA. of life insurance policies and contracts • explain the main Acts that govern life insurance More information (and superannuation) For more information on these and other Institute • describe the fundamental concepts of superannuation. workshops, visit www.theinstitute.com.au/workshops. More information

For more information on this and other Institute workshops, visit www.theinstitute.com.au/workshops. WORKSHOPS AND EVENTS

www.theinstitute.com.au 27 Workshops and Events

Essentials of Insurance Law General Insurance Code of Practice

GI WORKSHOP GI ONLINE

Members Non-members Members Non-members

Fee A$300 A$415 FEE A$215 A$300

DURATION Half-day DURATION 3–4 hours

DELIVERY Facilitated workshop DELIVERY Online

CIP Points 3 CIP Points CIP Points 3 CIP Points

LEVEL Foundation LEVEL Foundation

LOCATIONS Melbourne, Sydney, Perth LOCATIONS Available throughout Australia

This workshop provide participants with a sound knowledge The General Insurance Code of Practice Training Program and understanding of the legal system and key legislation that provides participants with a comprehensive coverage of the governs the practice of general insurance in Australia. Insurance Council of Australia’s General Insurance Code of Practice. Participants will learn about the objectives and Who should attend principles of the Code and how they apply in relation to This program is suitable for both new entrants to the customers buying insurance and making claims. insurance industry and those already working in the sector with a need for a more comprehensive knowledge and Who should attend understanding of insurance law and regulations, and how This program is a must for members of the Insurance they impact on work practices. Council of Australia and other industry participants and service providers who sign up to the Code. Learning outcomes Learning outcomes Upon completion of the program, participants should be able to identify and explain: Upon completion of the program, participants should be • some key aspects of the relevant legal system able to identify and explain: • the features of common law and statute law • the nature, purpose and importance of the Code • key legislation affecting the general insurance sector • the objectives of the Code • the concepts of duty of utmost good faith, the duty of • the parties and the insurance products covered by disclosure and average the Code • the key regulatory bodies. • the standards imposed by the Code in relation to customers buying insurance More information • the standards imposed by the Code in relation to the handling of claims by insurers For more information on this and other Institute workshops, visit www.theinstitute.com.au/workshops. • the Code’s requirements for the handling of complaints and disputes • the responsibilities of the parties to the Code in relation to Code monitoring and enforcement • the sanctions that may be imposed on an insurer under the Code. Related products

The Institute also offers a General Insurance Code of Practice for Brokers workshop. More information

For more information on these and other Institute workshops, visit www.theinstitute.com.au/workshops.

28 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Professional Indemnity Workers Compensation and Directors and Officers Case Management Insurance

GI IB WORKSHOP WC WORKSHOP

Members Non-members Members Non-members

FEE A$175 A$205 FEE A$590 A$850

DURATION 1–2 hours DURATION Full-day

DELIVERY Facilitated workshop DELIVERY Facilitated workshop

CIP Points 1 CIP Point CIP Points 6 CIP Points

LEVEL Foundation LEVEL Foundation

LOCATIONS Available throughout Australia LOCATIONS Available throughout Australia (subject to minimum numbers) (subject to minimum numbers)

This seminar has been designed to provide a broad Workers Compensation Case Management is a one-day understanding of professional indemnity and directors workshop which introduces participants to the medical and officers (PI and D&O) insurances. Participants will environment, common injury types, the injury management look at definitions and key features, major underwriting process and treatment plans. It also looks at return to work considerations and risk factors, the different nature and plans and the barriers to returning injured persons to work. range of claims as well as current issues facing this field of insurance. Who should attend This seminar is suitable for those who are entry level or Who should attend relatively new to the insurance sector and are seeking This seminar is suitable for those who are entry level or broad understanding workers compensation case relatively new to the insurance sector and are seeking management or those with considerable insurance broad understanding of a range of insurance products or sector experience but little or no exposure to workers those with considerable insurance sector experience but compensation case management. little or no exposure to PI and D&O insurance. Learning outcomes Learning outcomes At the conclusion of the workshop, participants should At the conclusion of the workshop, participants should be able to: be able to: • describe basic medical terminology and basic anatomy • explain the key features of PI and D&O insurance • explain common injury types, their typical duration and • explain the major underwriting considerations and risk typical treatment regimes factors related to PI and D&O insurance • explain the injury management process • describe the range of claims related to PI and • describe the return to work process and the potential D&O insurance. barriers to a successful return to work. More information More information

For more information on this and other Institute workshops, For more information on these and other Institute visit www.theinstitute.com.au/workshops. workshops, visit www.theinstitute.com.au/workshops. WORKSHOPS AND EVENTS

www.theinstitute.com.au 29 Workshops and Events

Essentials of Business Essentials of Managing Risk Interruption Insurance

GI IB LA WORKSHOP/ONLINE GI IB RM WORKSHOP

Fee Members Non-members Members Non-members

workshop A$300 A$415 Fee A$590 A$825

ONLINE A$215 A$300 DURATION Full-day

DURATION Workshop Online DELIVERY Facilitated workshop

Half-day 2–4 hours CIP Points 6 CIP Points

DELIVERY Facilitated workshop or online LEVEL Foundation/Intermediate

CIP Points 3 CIP Points LOCATIONS Available throughout Australia (subject to minimum numbers) LEVEL Foundation/Intermediate

LOCATIONS Melbourne, Sydney and Essentials of Managing Risk is an interactive facilitator-led Australia-wide online. workshop, providing participants with a broad knowledge and understanding of risk management, including the AS/ Delivered in either an online or facilitated workshop format, NZS ISO 31000: 2009 risk management standard, and its the Essentials of Business Interruption Insurance is relationship to client insurance risk exposures. designed to provide participants with a sound working The workshop consists of four sections covering an knowledge and understanding of the key concepts and overview of risk management, the process of risk issues related to business interruption insurance. management, risk treatment, and the monitoring and review of programs to manage risk. Who should attend Who should attend This workshop is suitable for new entrants to the insurance sector and anyone requiring a broad This program is suitable for new entrants to the general understanding of business interruption insurance to insurance and insurance broking sectors and for those enhance their knowledge and understanding of general already working in these sectors who require a broader insurance products. knowledge and understanding of risk management in relation to client insurance risk exposures. Learning outcomes Learning outcomes Upon completion of the program, participants should be able to: Upon completion of the program, participants should • describe business interruption insurance and its common be able to: features and sections • outline the approaches to, and benefits of risk • describe the common extensions available for business management interruption insurance • describe the risk management process • define the underwriting considerations • identify risk treatment options and financing • calculate sums insured. • describe how risk management programs are monitored and reviewed. Related products More information The Institute also offers a Business Interruption Insurance Claims workshop. For more information on this and other Institute workshops, visit www.theinstitute.com.au/workshops. More information

For more information on these and other Institute workshops, visit www.theinstitute.com.au/workshops.

30 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Essentials of Industrial Introduction to Reinsurance Special Risks Insurance

GI IB WORKSHOP/ONLINE GI WORKSHOP

FEE Members Non-members Members Non-members

Workshop A$300 A$415 FEE A$590 A$825 online A$215 A$300 DURATION Full-day

DURATION Workshop Online DELIVERY Facilitated workshop

Half-day 4 hours CIP Points 6 CIP Points

DELIVERY Facilitated workshop or online LEVEL Intermediate

CIP POINTS 3 CIP Points LOCATIONS Melbourne, Sydney, Perth LEVEL Intermediate Introduction to Reinsurance is a one-day interactive LOCATIONS Melbourne, Sydney, Darwin, Perth facilitator-led workshop designed to provide participants and Australia-wide online with a broad understanding of the reinsurance industry. Key topics and issues covered include: the role of Delivered in either an online or facilitated workshop format, reinsurance, the legislative framework, classes of Essentials of Industrial Special Risks Insurance provides reinsurance, methods of reinsurance, the role of brokers, participants with a basic knowledge and understanding of key markets and reinsurance placement. industrial special risks (ISR) insurance in Australia and the opportunity to apply their learning to work-based scenarios. Who should attend

Who should attend This program is a suitable introduction for new entrants to the reinsurance sector, or anyone with previous insurance This program is suitable for new entrants to the insurance knowledge with an interest in reinsurance. The program sector who require an overview of industrial special risks assumes some prior knowledge of general insurance. insurance, to enhance their knowledge and understanding of general insurance products. It is also suitable for those Learning outcomes with some insurance experience who have not been exposed to the concepts behind ISR insurance and the Upon completion of the program, participants should role it plays in relevant insurance programs. be able to identify and explain: • the purpose of reinsurance Learning outcomes • the key types, methods and classes of reinsurance Upon completion of the program, participants should • the role of reinsurance brokers be able to identify and explain: • the major considerations for reinsurance placement • the purpose and features of industrial special • how the Insurance Act 1973 (Cwlth) and prudential risks insurance standards govern the practice of reinsurance. • underwriting issues relevant to industrial special More information risks insurance • the key considerations in evaluating industrial special For more information on this and other Institute workshops, risks insurance claims. visit www.theinstitute.com.au/workshops. More information

For more information on this and other Institute workshops, visit www.theinstitute.com.au/workshops. WORKSHOPS AND EVENTS

www.theinstitute.com.au 31 Workshops and Events

Commercial Insurance Business Advantage: Making Fundamentals Regulation Work for You

GI IB LA WORKSHOP GI LI LA WORKSHOP

Fee Members Non-members FEE A$525

A$590 A$825 DURATION Half-day

DURATION Full-day DELIVERY Facilitated workshop

DELIVERY Facilitated workshop CIP Points 3 CIP Points

CIP Points 6 CIP Points LEVEL Advanced

LEVEL Intermediate LOCATIONS Available throughout Australia (subject to minimum numbers) LOCATIONS Melbourne, Sydney, Perth

Transform the burdens of regulation into an advantage The Commercial Insurance Fundamentals workshop looks for your business. at the classes of commercial insurance associated with commercial property, business interruption and liability. The Institute’s Business Advantage: Making Regulation It focuses on the underwriting principles and risk Work for You workshop will assist you to develop and assessment processes related to commercial insurance manage your company’s compliance in a way that does more than merely satisfy regulatory requirements. Who should attend Through this half-day interactive session, you will learn This program is suitable for participants who are undertaking, how to implement corporate governance procedures, or about to undertake, a career path encompassing which will assist your company to develop an commercial insurance. It is recommended that participants organisational environment that thrives within the should have been working in the insurance industry for two Australian regulatory environment. to three years. Who should attend Learning outcomes This workshop is aimed at the board, executive and At the conclusion of the program, participants should senior management levels where the responsibility for be able to: establishing the culture and ethical values of an institution • describe the cover provided by contract works lies. It also affords opportunities for aspiring managers insurance, industrial special risks insurance and to become aware of the regulatory imperatives and business packs provides insights into how this can be part of the day-to- • describe the strategies used and the issues associated day business. with underwriting commercial insurances Learning outcomes • describe the scope of cover provided under the business interruption sections of office and At the conclusion of the workshop, participants should business packs be able to: • outline the cover provided by liability insurance. • explain the key regulatory requirements of insurance companies Related products • establish a cultural framework within the company to The Institute also offers a Commercial Claims enable honest and transparent disclosure. Fundamentals workshop. More information

More information For more information on this and other Institute workshops, For more information on these and other Institute visit www.theinstitute.com.au/workshops. workshops, visit www.theinstitute.com.au/workshops.

32 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Creating Value in General Insurance

GI WORKSHOP

FEE Manager Series Executive Series

A$525 A$1,365

DURATION Half-day

DELIVERY Facilitated workshop

CIP Points 3 CIP Points

LEVEL Advanced

LOCATIONS Available throughout Australia (subject to minimum numbers)

This workshop is designed to provide those within general insurance companies with management or executive responsibilities, and those aspiring to such a role, with the skills and knowledge to maximise value generation. It outlines the key functions and result areas at every level of a general insurance company’s operations in relation to revenue generation, cost management, financial capital management and business environment management. Participants will also gain insights that contribute to their company’s value within their own and related fields. Who should attend

This program is suitable for participants with boardroom or executive responsibilities or those who are undertaking, or about to undertake, such a role in general insurance operations. Learning outcomes

At the conclusion of the workshop, participants should be able to: • explain the key drivers of revenue generation and cost management in an insurance company • articulate the relevance of financial capital and business environment management in an insurance company. More information

For more information on these and other Institute workshops, visit www.theinstitute.com.au/workshops. WORKSHOPS AND EVENTS

*Australian prices subject to GST

www.theinstitute.com.au 33 Studying with the Institute opens doors and demonstrates commitment to the industry and standards we all strive to promote.

Debbie Hodrett ME Retail Underwriting | Calliden

34 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 www.theinstitute.com.au 35 life insurance Certificate IV in Life Insurance

Fee A$890 per module Elective modules FSL500 Providing Advice in Life Insurance traineeship A$3,990 (Government funding available for eligible Australian students) Covers the skills and knowledge required to provide advice regarding life insurance products in line with ASIC RG 146 Life Duration Five modules – Each Study Period lasts Insurance compliance. 12 weeks. (Students are able to study more than one module per Study Period.) FSL503 Life Insurance Distribution Membership Associate CIP Covers the skills required to create and document a life insurance Outcome product distribution plan. Students will also learn how to action ASIC RG 146 Life Insurance compliance is a distribution plan within established parameters, developing Compliance achieved by completing the module marketing tools within budget, and measuring ongoing results to FSL500 Providing Advice in Life Insurance. inform the strategic reviews.

The Institute’s Certificate IV in Life Insurance is designed for FSL505 Life Insurance Underwriting employees starting out in life insurance. Developed to meet Details the principles and practices of life insurance underwriting. industry standards and regulatory compliance, the Certificate Beginning with the basics of life risk and life insurance proposals, IV provides the technical knowledge and skills needed to give the module proceeds to cover approaches to risk acceptance, quality services to clients. This qualification can be undertaken rating systems, financial and medical underwriting and the role through a traineeship or distance learning. of reinsurance.

Course content FSL506 Life Insurance Claims Management To be awarded the Certificate IV, students must complete four Covers the process of determining the validity of a life insurance core modules and one elective module. It is suggested that claim, assessing its impact and calculating payments for claims each module will encompass 50–70 hours of study time. made against each of the major policy types.

Core modules Exit points Core competencies online Students wishing to exit the Certificate IV early may be eligible for Comprising four online programs, this section looks at the the Certificate III in Life Insurance, provided they have satisfied the skills and knowledge necessary for working safely in an office requirements for that award. Visit www.theinstitute.com.au/life for environment and how to apply principles of professional more information. practice to work in the financial services industry. More information FSL401 Life Insurance Products Provides students with an in-depth knowledge of products and A complete listing of all AQTF competencies covered in each of services developed and sold by the life insurance sector. the Certificate modules is available on the Institute’s website at www.theinstitute.com.au/life. FSL402 Customer Service Provides students with the skills and knowledge to deliver Further education professional services to customers including responding Upon completion of the Certificate IV, students only need to to enquiries, processing complaints, negotiating sales, and study two more of the elective modules to obtain the Diploma maintaining relationships. of Life Insurance. To learn more about the Diploma visit FSL403 Life Insurance Policy Processes www.theinstitute.com.au/life or see the following page for details. Covers the information, skills, regulation and ethics of handling life insurance policies. This module introduces and explains Enrol a wide variety of policy processes, from the initial receipt and To enrol visit the Institute’s website www.theinstitute.com.au/enrol assessment of a life insurance proposal through to policy or give our Customer Service Team a call on (+61 3) 9613 7280. administration alterations and claims.

36 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Diploma of Life Insurance

Fee A$890 per module Elective modules FSL500 Providing Advice in Life Insurance DURATION Seven modules – each Study Period lasts 12 weeks. (Students are able to study more Covers the skills and knowledge required to provide advice than one module per Study Period.) regarding life insurance products in line with ASIC RG 146 Life Insurance compliance. Membership Senior Associate CIP Outcome FSL503 Life Insurance Distribution ASIC RG 146 Life Insurance compliance is Covers the skills required to create and document life insurance Compliance achieved in the Diploma by completing the product distribution plans, and action those plans within established module FSL500 Providing Advice in Life parameters. Students will also learn how marketing tools are Insurance. developed and made available within budget, and how to review and revise their strategy while measuring ongoing results to The Institute’s Diploma of Life Insurance is designed for inform the strategic reviews. employees working in life insurance. Success completion entitles the participant to Senior Associate Certified Insurance FSL505 Life Insurance Underwriting Professional (CIP) membership of the Institute – the benchmark Details the principles and practices of life insurance underwriting. for industry professionalism. Beginning with the basics of life risk and life insurance proposals, Developed to meet industry standards and regulatory the module proceeds to cover approaches to risk acceptance, compliance, the Diploma provides the technical knowledge rating systems, financial and medical underwriting and the role and skills needed to give quality services to clients and of reinsurance. effectively manage a life insurance business. FSL506 Life Insurance Claims Management Core modules Covers the process of determining the validity of a life insurance claim, assessing its impact and calculating payments for claims Core competencies online made against each of the major policy types. Comprising four online programs, this section looks at the skills and knowledge necessary for working safely in an office Exit points environment and how to apply principles of professional Students who only complete the core modules for this course are practice to work in the financial services industry. eligible for the Certificate III in Life Insurance. Those who continue by FSL401 Life Insurance Products studying one of the elective modules are eligible for the Certificate IV in Life Insurance. For more details, visit www.theinstitute.com.au/life. Provides students with an in-depth knowledge of products and services developed and sold by the life insurance sector. More information FSL402 Customer Service A complete listing of all AQTF competencies covered in each Provides students with the skills and knowledge to help them of the Diploma modules is available on the Institute’s website professional respond to customer enquires, process customer complaints, at www.theinstitute.com.au/life. deliver professional services to customers and maintain customer relationships. Further education Completion of the Diploma provides credit into the Bachelor of

FSL403 Life Insurance Policy Processes qualifications Covers the information, skills, regulation and ethics of handling Business (Insurance) at Charles Sturt University (CSU). Further life insurance policies. The module introduces and explains information regarding university pathways is available on the a wide variety of policy processes, from the initial receipt and Institute’s website at www.theinstitute.com.au/uni_pathways. assessment of a life insurance proposal through to policy Enrol administration alterations and claims. To enrol visit the Institute’s website www.theinstitute.com.au/enrol or give our Customer Service Team a call on (+61 3) 9613 7280.

www.theinstitute.com.au 37 The Institute provides access to quality educational and professional development programs, which in turn improves my business skills and industry knowledge.

Michelle Kalin Underwriting | QBE

38 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 general insurance Certificate III in General Insurance

Fee A$3,990 (Government funding available for Course structure eligible Australian students) The Certificate III in General Insurance is broken up into the following 10 sections: Duration 1–2 years depending on state requirements Section 1 – Working in an office environment Membership Affiliate Examines the basic skills required to work successfully in an Outcome office environment. It looks at company procedures, effective asic Tier 2 General Insurance – Personal and communication, using technology and managing conflict. compliance General Advice This section also discusses managing change within the work environment, and occupational health and safety issues. The starting point for school leavers or anyone wishing to develop a career in insurance at entry level, the Certificate III Section 2 – The insurance market traineeship is a government-subsidised employment-based Analyses the specific features of the general insurance market training program that gives new entrants a solid introduction and discusses the place of the insurance industry in the wider to the insurance industry and provides a foundation for economic and financial environment. This section also looks at further development. some common features of insurance policies and looks at how insurance products are priced and sold. Traineeships Section 3 – The financial environment Institute traineeships are an ideal way to bring young people Introduces the Australian economic and financial environment into your company and train them in your business culture. and identifies various financial markets, the products that Delivered by a mix of distance learning resources, support from are bought and sold, and the key players in these markets. Institute staff and coaching by the employer’s personnel in the This section also discusses how the economic environment workplace, the traineeship allows you the flexibility to develop influences the various financial markets. your new employees into skilled, versatile and productive workers. Section 4 – The legal environment Institute traineeships also offer the advantage of government Introduces the Australian legal system. First it looks at the funding and employers can receive a significant government key bodies that regulate the financial services industry and subsidy of up to $4,000, subject to pre-existing conditions then presents an overview of two specific pieces of legislation such as previous funding and prior qualifications. Visit – the Trade Practices Act and the Australian Securities and www.theinstitute.com.au/traineeships for more details. Investment Commission (ASIC) Act.

www.theinstitute.com.au 39 Certificate III in General Insurance

Section 5 – The Insurance Contracts Act Examines the concepts contained in the Insurance Contracts Act that affect the general insurance industry and work practices.

Section 6 – The Corporations Act Provides an overview of the Corporations Act, including the effects of the Act on day-to-day work, with particular emphasis on disclosure requirements.

Section 7 – Privacy Discusses privacy principles and focuses on the procedures that should be followed to ensure the information gathered about customers remains confidential.

Section 8 – Code of Practice and dispute resolution Examines specific features of theGeneral Insurance Code of Practice, including the role of the Code in setting standards of practice for the insurance industry and highlights how the Code affects day-to-day work. It also discusses the handling of disputes and presents models of both internal and external dispute handling systems.

Section 9 – Working with customers Highlights the importance of excellent customer service and sets out what is involved in advising customers and meeting their insurance needs.

Section 10 – Claims Presents an overview of the claims process and how customers can be assisted with their claims. More information A complete listing of all AQTF competencies covered in each of the certificate sections is available on the Institute’s website at www.theinstitute.com.au/gi. Further education For those wanting to go on to study the Certificate IV in General Insurance, the Certificate III along with the completion of a bridging module gives you credit for FSI401 Serving the Customer. For more information visit www.theinstitute.com.au/bridging_pathways. Enrol To enrol visit the Institute’s website www.theinstitute.com.au/enrol or give our Customer Service Team a call on (+61 3) 9613 7280.

40 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Certificate IV in General Insurance

FSI404 Introduction to Underwriting Fee A$910 per module Covers the key categories of risk and the steps involved in traineeship A$3,885 (Government funding available managing risk. It also describes the functions of underwriting, the for eligible Australian students) underwriting process and the most common forms of reinsurance, DURATION Five modules – Each Study Period lasts insurance contracts and processing proposals. 12 weeks. (Students are able to study more than one module per Study Period.) FSI405 Claims Handling Describes the types of insurance policies available and covers Membership Associate CIP Outcome the start-to-end process of handling a claim including registering claims, obtaining the relevant information from the client along asic Tier 1 Personal Accident and Sickness with proper documentation, deciding whether further investigation compliance (General Insurance) is required and finalising claims. The essential qualification for those who handle claims, issue More information domestic insurance contracts, deal with customer enquiries, appoint intermediaries to investigate standard claims and A complete listing of all AQTF competencies covered in each of initiate claims recovery, the Certificate IV in General Insurance is the certificate modules is available on the Institute’s website at a great start to a career in insurance. www.theinstitute.com.au/gi. Upon completion of the Certificate IV, graduates will become an Traineeships Associate Certified Insurance Professional (CIP) of the Institute. Institute traineeships are an ideal way to bring new employees into Successful completion of FSI401 Serving the Customer your company and train them in your business culture. Delivered and FSI402 Insurance Law and Regulation will also meet by a mix of distance learning resources, support from Institute requirements for ASIC Tier 1 Personal Accident and Sickness staff and coaching by the employer’s personnel in the workplace, (General Insurance) compliance. the traineeship allows you the flexibility to develop your new employees into skilled, versatile and productive workers.

Course content Institute traineeships also offer the significant advantage of The Certificate IV is comprised of five modules and it is government funding as employers can receive government suggested that each module will encompass 50–70 hours of subsidy of up to A$4,000, subject to pre-existing conditions study time. The modules are: such as previous funding and prior qualifications. Visit www.theinstitute.com.au/traineeships for more details. FSI401 Serving the Customer Explains the impact of the economic environment on financial Further education services products, explores creating a relationship with the Upon completion of the Certificate IV, students are client in order to establish general insurance needs and thereby eligible to enrol in the Diploma of General Insurance. Visit identify appropriate products. www.theinstitute.com.au/gi or see the following page for details. professional FSI402 Insurance Law and Regulation Completion of the Certificate IV also provides credit into the Deals with legal framework, laws, regulations, the Code of Bachelor of Business (Insurance) at Charles Sturt University. Visit Practice and relevant Acts that govern the general insurance www.theinstitute.com.au/uni_pathways for more information. industry in Australia. It also covers health and safety in the Enrol workplace.

To enrol visit the Institute’s website www.theinstitute.com.au/enrol qualifications FSI403 Insurance Products or give our Customer Service Team a call on (+61 3) 9613 7280. Covers the range of products and policies available, and describes their structure, features and benefits. It also explains how emerging technologies have affected the insurance industry.

www.theinstitute.com.au 41 Diploma of General Insurance

Fee A$1,095 per module Liability FSI501 Liability Claims Management DURATION Four modules – each Study Period lasts 12 weeks. (Students are able to study Covers the general principles of managing liability claims more than one module per Study Period.) and the start-to-end process of evaluating non-routine liability Membership Senior Associate CIP claims, including participating in negotiations, resolving Outcome disputes, finalising settlements and reviewing claims performance. SPECIALTy • Liability classes • Personal Lines FSI502 Liability Underwriting Management • Commercial Lines Covers analysing liability risks, policy wording for liability risks, • Marine underwriting liability risks, providing a quote, negotiating with • Statutory Classes brokers, reviewing and interpreting portfolio performance. Additional • Reinsurance modules • Risk Management Personal lines prerequisite Certificate IV in FSI503 Personal Lines Claims Management General Insurance Covers the start-to-end process of handling a personal lines claim, including processing and finalising both routine The Diploma of General Insurance is designed for general and non-routine claims settlements, processing facultative insurance employees who lead a claims or underwriting and treaty claims, resolving claims disputes and reviewing team, handle complex claims, underwrite complex risk, settlements and policies and procedures. initiate and respond to legal action in relation to claims, survey risk exposure, implement claims recovery and review FSI504 Personal Lines Underwriting Management portfolio performance. Completion of this provides Senior Covers the principles of personal lines underwriting, Associate Certified Insurance Professional (CIP)membership analysing risks and choosing a policy form and modifying as of the Institute – the benchmark for industry professionalism. necessary, and providing a quotation.

Course content Commercial lines The Diploma is comprised of four modules and it is FSI505 Commercial Lines Claims Management suggested that each module will encompass 50–70 hours Covers the principles and processes of commercial lines of study time. claims including commercial lines property and motor claims, The Diploma modules are paired under specialty classes, portfolio management, negotiating settlement and using each of which includes one module on underwriting and one dispute settlement processes. on claims management. Students must complete at least one whole specialty class (two modules) and then select FSI506 Commercial Lines Underwriting Management their remaining two modules according to work requirements Covers the principles and processes of underwriting and aspirations. commercial lines (property), portfolio management, negotiating settlement and dispute settlement processes.

42 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Marine Additional modules FSI507 Marine Claims Management FSI511 Reinsurance Covers the legal terms and concepts, and explains the Covers the need for and purpose of reinsurance, how to comply process, principles and adjustment of claims. It also covers the with requirements, the process of placement, how to process general average and salvage and their application to hull and facultative and treaty claims and how to calculate the costs of cargo claims and analysis, and adjustments to marine land- recovery – including reinstatements of reinsurance claims. based claims. FSI512 Risk Management FSI508 Marine Underwriting Management Covers the benefits and process of risk management, the Explains the legal terms, concepts, principles and classes of treatment options and methods of transferring and financing marine insurance. It also explains risk factors, carriers’ liability, risks. This module also looks at identifying and reviewing loss marine liability insurance, cargo insurance for marine ventures trends and changes in risk exposure as well as how to assess and inland transit and covers reviewing performance of marine portfolios. whether changes to programs are required.

Statutory classes More information FSI509 Statutory Classes Claims Management A complete listing of all AQTF competencies covered in each Covers principles and concepts of statutory classes claims of the Diploma modules is available on the Institute’s website at management, investigating and settling non-routine claims, www.theinstitute.com.au/gi. the dispute resolution process and reviewing claims settlement policies and procedures. Further education Completion of the Diploma provides credit into the Bachelor of FSI510 Statutory Classes Underwriting Management Business (Insurance) at Charles Sturt University (CSU). Further Discusses the principles and concepts related to statutory information regarding university pathways is available on the classes underwriting management, describes potential risk exposures and identifies how to issue a non-routine contract Institute’s website at www.theinstitute.com.au/uni_pathways. of insurance in workers compensation and/or compulsory motor accident compensation. Also deals with the underwriting Enrol process and reviewing the portfolio performance. To enrol, visit the Institute’s website www.theinstitute.com.au/enrol or give our Customer Service Team a call on (+61 3) 9613 7280. professional

qualifications

www.theinstitute.com.au 43 The Institute has helped me round out a better understanding of the industry, particularly the areas that impact my role on a daily basis.

Lewis Beange Underwriter – Industrial Special Risks | Lumley Insurance

44 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 financial planning Diploma of Financial Planning

Fees Core Diploma modules FSP511 Financial Planning $990

FSP512 Managed Investments $400 FSP515 Superannuation FSL500 Providing Advice in Life Insurance BFU001 Business Fundamentals

Diploma of Financial Planning $2590

Optional elective modules FSP513 Securities $400 FSP514 Derivatives

Duration* FSP511 Financial Planning** 12 weeks

Core Diploma and Optional elective modules 7 weeks BFU001 Business Fundamentals 4-6 hours

Membership Senior Associate CIP Outcome

ASIC Diploma: Financial Planning, Managed Investments, Superannuation, Life Insurance. Compliance Elective modules: Securities and/or Derivatives.

* five modules with the option of two optional additional specialist electives, depending on your compliance requirements ** students must complete FSP511 as a prerequisite to all other modules – Business Fundamentals must be taken as the final module

The Institute’s Diploma of Financial Planning offers an Core modules internationally-recognised qualification that will satisfy RG 146 FSP511 Financial Planning compliance and the skills and knowledge requirements of a modern Australian Financial Planner with the flexibility to add FSP511 is a prerequisite to all the other modules in customised specialist product compliance at any time. the Diploma.

On successful completion of the Diploma students will be able This module provides industry compliance with the ASIC to demonstrate the fundamental knowledge required for working RG 146 requirements of generic knowledge, the specialist in the financial services industry, understand how to research knowledge requirement of financial planning and the and evaluate investment products within Australia, understand planner skills requirement. The course also covers estate the function and purpose of superannuation and retirement planning and business succession planning and the professional products, and insurance (both general and life) products. underpinning competencies required for the various product modules. There are two optional specialist product modules that may be taken as additional electives to broaden your specialist adviser FSP512 Managed Investments knowledge and gain compliance in securities and/or derivatives. Managed investments are a common form of investment

recommended by financial planners. This module describes qualifications Course content the various types of funds and the ways in which they are To be awarded the Diploma, students must complete the commonly classified, operation of financial markets as following five core modules. There is also the option to well as outlines the process used to analyse and select complete two additional elective modules however this is managed investments. A key topic covered is the analysis not a compulsory requirement of the Diploma. of risk in managed investments.

www.theinstitute.com.au 45 Diploma of Financial Planning

FSP515 Superannuation FSP514 Derivatives This module focuses on the major features of a complying In this module, students will learn about derivatives, a distinct type superannuation fund, the different types of superannuation of financial product derived from, and bound to, basic underlying funds and how benefits can be calculated. A focus will be financial products. The main focus in relation to derivatives is on the roles of the major regulators of superannuation funds, recognising how they work and under what circumstances they the major Acts governing them and the role of the trustee. could benefit a client’s investment position. Students will be Students will learn to identify the investment restrictions able to explain how derivatives operate within certain managed imposed on superannuation funds and formulate effective funds that may be recommended to clients. The derivatives planning strategies. accreditation also provides ASX Accredited Derivatives Advisor Level 1 recognition which is currently an ASX requirement. FSL500 Life Insurance This module incorporates the best possible combination More information of practical knowledge and required skills for working in After a student has undertaken FSP511 Financial Planning life insurance. It will teach students to analyse client needs, Compliance, they can complete any of the subsequent objectives, financial situation and risk profile to identify compliance modules to achieve specific product compliance, appropriate solutions and strategies. Students will also depending on individual financial planner requirements and develop essential life insurance product knowledge. compliance needs. For more information on compliance, refer to BFU001 Business Fundamentals pages 21-23. Comprising of four online programs, this module looks at A complete listing of all AQTF competencies covered in each of the skills and knowledge necessary for working safely in an the Diploma modules is available on the Institute’s website at office environment and how to apply principles of professional www.theinstitute.com.au/fp. practice to work in the financial services industry.

BFU001 must be taken as the final module in the Diploma. Further education Elective specialist modules can be taken at a later date if Successful completion of the Diploma of Financial Planning students choose that option. provides you with entry into the Institute’s Advanced Diploma of Financial Planning. To learn more about this next career move, Optional elective modules visit www.theinstitute.com.au/fp or see the following page FSP513 Securities for details. In this module, students will discover the different types of Students who wish to continue their studies to Bachelor level will securities including equities and fixed interest. The course be eligible for credit into the Bachelor of Business (Insurance) at outlines advice consideration including the operation of the Charles Sturt University (CSU). Upon successful completion of market, factors influencing returns, trading strategies and the Diploma students will also be eligible to receive credit towards research. A balanced portfolio usually entails some level of CSU’s Master of Applied Finance (Financial Planning). Further shareholding and this module will assist students in answering information regarding university pathways is available on the client queries about how their existing shareholdings fit into Institute’s website at www.theinstitute.com.au/uni_pathways. their overall financial strategy. Successful completion of the Diploma also provides students with a pathway to study for the Certified Financial Planner (CFP) program with the Financial Planning Association of Australia (FPA). Enrol To enrol visit our website www.theinstitute.com.au/enrol or give our Customer Service Team a call on (+61 3) 9613 7280.

46 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Advanced Diploma of Financial Planning

FSP603 Providing Professional Guidance Fee A$1,045 per module Covers managing a financial planning business, including DURATION Three modules – Each Study Period lasts best practice, professional guidelines, applying regulatory 12 weeks. (Students are able to study requirements and implementing processes. Also in this module more than one module per Study Period.) students learn how to develop their staff with technical guidance Membership Senior Associate CIP and continuing education training plans, and ways to review and Outcome maintain up-to-date best practices principles. PREREQUISITE Diploma of Financial Planning More information

The Institute’s Advanced Diploma of Financial Planning focuses A complete listing of all AQTF competencies covered in each on client-centred advice and management processes, and is of the Advanced Diploma modules is available on the Institute’s essential in developing the skills and knowledge of experienced website at www.theinstitute.com.au/fp. financial planners who are serious about their career prospects.

All modules in this Advanced Diploma of Financial Planning are Further education accredited by the FPA. Studies in the Advanced Diploma provide credit towards Charles Sturt University’s Master of Applied Finance (Financial Planning), Course content specifically the Advanced Diploma gives credit intoFIN560 To be awarded the Advanced Diploma of Financial Planning Introduction to Financial Planning. For more information visit students must complete a Diploma of Financial Planning and www.theinstitute.com.au/uni_pathways. the following three Advanced Diploma modules. It is suggested that each module will encompass 50–70 hours of study time. Enrol

FSP601 Understanding Your Client To enrol visit the Institute’s website www.theinstitute.com.au/enrol or give our Customer Service Team a call on (+61 3) 9613 7280. Builds on the skills learnt in the Diploma with more in-depth information about legal and regulatory requirements. Students will learn to assess product performance and construct portfolios for their clients. In addition, this module covers portfolio theory and performance and measurements in more detail.

FSP602 Innovative Financial Planning Strategies Covers the skills and knowledge required to establish alternative and specialised investments and strategies to suit a client’s goals, and the scope of advice required. You will also learn how to identify key issues that might affect the quality of that advice, and finally, to investigate company performance measurements ratios, research data on investments and how professional to apply that knowledge to relevant strategies and to develop an innovative or complex financial strategy to include in the Statement of Advice.

qualifications

www.theinstitute.com.au 47 My studies with the Institute have helped progress my career and develop my industry knowledge and networks.

Natalie Hunt Account broker | AON

48 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 loss adjusting Certificate IV in Loss Adjusting

Fee A$3,990 (Government funding available for More information eligible Australian students) A complete listing of all AQTF competencies covered in each of Duration 1–2 years depending on state the certificate modules is available on the Institute’s website at requirements www.theinstitute.com.au/loss. Membership Associate CIP Outcome Traineeships

Institute traineeships are an ideal way to bring new employees The Institute’s Certificate IV in Loss Adjustingtraineeship is into your company and train them in your business culture. ideal for loss adjusting companies wanting to develop the Delivered by a mix of distance learning resources, support from skills of their employees, by having them complete a nationally Institute staff and coaching by personnel in the workplace, the recognised accredited qualification which leads toAssociate traineeship allows you the flexibility to develop new employees Certified Insurance Professional (CIP) membership of the into skilled, versatile and productive workers. Institute. Institute traineeships also offer the advantage of government Course content funding and employers can receive a significant government The Certificate IV in Loss Adjustingtraineeship comprises five subsidy of up to A$4,000, subject to pre-existing conditions such modules. It is suggested that each module will encompass as previous funding and prior qualifications. 50–70 hours of study time. Visit www.theinstitute.com.au/traineeships for more details. FSI401 Serving the Customer Further education Explains the impact of the economic environment on financial Upon completion of the Certificate IV, students are services products, explores creating a relationship with the eligible to enrol in the Diploma of Loss Adjusting. client in order to establish their general insurance needs and Visit www.theinstitute.com.au/loss or see the following thereby identify appropriate products. page for details. FSI405 Claims Handling Describes the types of insurance policies available and AICLA covers the start-to-end process of handling a claim, including: The traineeship program also incorporates three of the four registering claims, obtaining the relevant information from the modules required to obtain the Australian Institute of Chartered professional client along with proper documentation, deciding whether Loss Adjuster’s (AICLA) Certificate in Loss Adjusting Practice. further investigation is required and finalising claims. For more information visit AICLA’s website at www.aicla.org. FSA501 Introduction to Loss Adjusting Enrol

See the following page for module description. qualifications To enrol visit the Institute’s website www.theinstitute.com.au/enrol FSA502 Loss Adjusting Practice or give our Customer Service Team a call on (+61 3) 9613 7280. See the following page for module description.

FSA504 Loss Adjusting Law and Regulation See the following page for module description.

www.theinstitute.com.au 49 Diploma of Loss Adjusting

FSA503 Negotiating Effective Settlements Fee A$830 per module Examines how negotiation applies to loss adjusting, Duration Eight modules – Each Study Period lasts including the skills needed for successful negotiation, 12 weeks. (Students are able to study more and analysing the cost–benefit on settlement options. than one module per Study Period.) Students will also learn to document and administer Membership Senior Associate (CIP) Outcome negotiation meetings, and the key options for resolving negotiation disputes. Developed for employees already practising loss adjusting FSA504 Loss Adjusting Law and Regulation and who are ready to take the next step in their career. The Explains why loss adjusters need to know about the law, Institute’s Diploma of Loss Adjusting is essential for those including researching the law, the legal system, how laws seeking expertise and a qualification in the specialist area of are developed and interpreted, underlying legal concepts, claims assessment and provides Senior Associate Certified Insurance Professional (CIP) membership of the Institute – applying relevant laws, regulations, codes and principles. the benchmark for industry professionalism. FSA505 Managing Operations Course content Covers the characteristics of loss adjusting businesses, including their scope, operations and client groups. To be awarded the Diploma, students must complete six Students will look at how the role of the manager contributes core modules and two elective modules. It is suggested that to the effective operational management of an organisation each module will encompass 50–70 hours of study time. and the purpose and characteristics of business plans.

Core modules This module will also cover the process of developing business plans and the key steps involved in monitoring FSA501 Introduction to Loss Adjusting operational performance. Covers how the loss adjusting industry has evolved and the roles, responsibilities and the key skills required of FSA506 Property and Casualty Loss Adjustment a loss adjuster, including the parties they may deal with. This module looks at the role of the loss adjuster in relation This module will also cover general insurance and the to property claims, the purpose of property cover and loss, legal knowledge a loss adjuster needs to possess, the key insurable interest, property policies, the cover provided and elements of a loss adjuster’s terms of engagement and issues relating to property cover. the steps involved in the loss adjusting process. Students will also study the reasons for physical FSA502 Loss Adjusting Practice measurement or photographic evidence when verifying loss, interviewing processes of an insured, types of combustions, Concentrates on the types of instructions received by loss fire spreads, common causes of ignition and evidence of adjusters, the terms of reference and how they impact on forced entry in a fire loss. Also covered is commercial stock the loss adjusting assignment, and the steps involved in planning loss adjusting investigation. loss, the insured and insurers rights in loss mitigation, the purpose of casualty cover and the effects of a casualty loss. This module also covers the key techniques used when collecting and analysing evidence, the steps involved in validating a claim and establishing quantum, and recovery rights and demands.

50 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Elective modules FSA511 Construction Loss Adjustment FSA507 Business Interruption Loss Adjustment Investigates the cover provided by a typical construction insurance policy including policy cover, extensions, exclusions Discusses the business interruption policies available, the and conditions, and their effect on construction loss. purpose of business interruption cover and the effect business interruption can have on business. This module also covers the types of contracts that can be Students will learn about the role of the loss adjuster in the encountered on a construction project and their implications for preparation and assessment of business interruption claims, the a construction loss and the loss adjustment process. Students claim triggers to business interruption and the calculations and will also learn what is required for the successful completion of a preparation costs needed to assess a claim under an Industrial construction loss adjustment, relevant case law and legislation Special Risks (ISR) policy. applicable to construction losses and types of enquiries that are required for a specific construction loss situation. FSA508 Liability Loss Adjustment Examines the purpose of liability cover and the effects of legal More information liability, determining circumstances of a claim, establishing A complete listing of all AQTF competencies covered in each of liability and triggering indemnity under a liability policy. the Diploma modules is available on the Institute’s website This module will also look at the types of liability policies available at www.theinstitute.com.au/loss. and the cover they provide; defences to liability claims and the role of the loss adjuster in ­– the preparation and assessment, Further education and the investigation and verification of liability claims. Completion of the Diploma provides credit in to the Bachelor of FSA509 Building Loss Adjustment Business (Insurance) at Charles Sturt University (CSU). Further Looks at the purpose of building insurance and what constitutes information regarding university pathways is available on the a loss, insurable interest and proximate cause, differences Institute’s website at www.theinstitute.com.au/uni_pathways. between the building insurance policies available and the types of issues when conducting a building loss adjustment. AICLA

This module also covers the loss adjuster’s role in building Successful completion of FSA501, FSA502, FSA504 and FSA506 claims, the process of investigation and verification of a building fulfils the educational requirements to obtain AICLA’sCertificate claim and investigating a loss caused by fire. in Loss Adjusting Practice. For more information visit AICLA’s website at www.aicla.org. FSA510 Theft, Money and Fidelity Loss Adjustment Concentrates on the role of the loss adjuster in theft, money Enrol and fidelity loss, including the effects of each type of loss, the To enrol visit the Institute’s website www.theinstitute.com.au/enrol policies available, their purpose, scope of cover and typical or give our Customer Service Team a call on (+61 3) 9613 7280. claim triggers.

Students will learn about the concepts of limit of liability and professional sum insured, conditions, exclusions and extensions, settlement, investigation and reconciling stock loss. The module will also cover physical measurement, photographic evidence and market intelligence in claims evaluation, minimising loss through salvage, contribution, recovery and restitution and common physical security considerations used to protect a risk. qualifications

www.theinstitute.com.au 51 Studying with the Institute provided me with an overall understanding of the insurance industry as well as formal training which is widely recognised by my peers.

Neil Martin senior claims specialist - builders warranty claims | Lumley

52 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 insurance broking Certificate III in Insurance Broking

Fee A$3,990 (Government funding Course structure available for eligible Australian students) The Certificate III in Insurance Broking is divided into the following 10 sections: Duration 1–2 years depending on state requirements Section 1 – Working in an office environment Membership Affiliate Examines the basic skills required to work successfully in an Outcome office environment. It looks at company procedures, effective

ASIC Tier 2 General Insurance – Personal communication, using technology and managing conflict. Compliance and General Advice This section also discusses managing change within the work environment, and occupational health and safety issues. The starting point for school leavers or anyone wishing to Section 2 – The insurance market develop a career in insurance at entry level, the Certificate III traineeship is a government-subsidised, employment-based Analyses the specific features of the general insurance market training program that gives new entrants a solid introduction and discusses the place of the insurance industry in the wider to the insurance industry and provides a foundation for economic and financial environment. This section also looks further development. at some common features of insurance policies and examines how insurance products are priced and sold. Traineeships Section 3 – The financial environment Institute traineeships are an ideal way to bring young people

Introduces the Australian economic and financial environment professional into your company and train them in your business culture. and identifies various financial markets, the products that Delivered by a mix of distance learning resources, support are bought and sold, and the key players in these markets. from Institute staff and coaching by personnel in the workplace, This section also discusses how the economic environment the traineeship allows you the flexibility to develop your new influences the various financial markets. employees into skilled, versatile and productive workers.

Section 4 – The legal environment qualifications Institute traineeships also offer the advantage of government Introduces the Australian legal system. First it looks at the funding and employers can receive a significant government key bodies that regulate the financial services industry and subsidy of up to $4,000, subject to pre-existing conditions such then presents an overview of two specific pieces of legislation as previous funding and prior qualifications. – the Trade Practices Act and the Australian Securities and Visit www.theinstitute.com.au/traineeships for more details. Investment Commission Act (ASIC).

www.theinstitute.com.au 53 Certificate III in Insurance Broking

Section 5 – The Insurance Contracts Act More information Examines the concepts contained in the Insurance Contracts Act that affect the general insurance industry A complete listing of all AQTF competencies covered in and work practices. each of the certificate modules is available on the Institute’s website at www.theinstitute.com.au/broking. Section 6 – The Corporations Act Provides an overview of the Corporations Act, including Further education the effects of the Act on day-to-day work, with particular The next step in a career in insurance is the Diploma of Insurance emphasis on disclosure requirements. Broking. Visit www.theinstitute.com.au/broking Section 7 – Privacy or see the following page for details. Discusses privacy principles and focuses on the procedures Enrol that should be followed to ensure client information gathered about customers remains confidential. To enrol visit the Institute’s website www.theinstitute.com.au/enrol or give our Customer Service Team a call on (+61 3) 9613 7280. Section 8 – Code of Practice and dispute resolution Examines specific features of theGeneral Insurance Code of Practice, including the role of the Code in setting standards of practice for the insurance industry and highlights how the Code affects day-to-day work. It also discusses the handling of disputes and presents models of both internal and external dispute handling systems.

Section 9 – Working with clients Gives an overview of the Corporations Act and discusses the effects of the Act on the day-to-day work of a broker, with particular emphasis on disclosure requirements.

Section 10 – Claims Presents an overview of the claims process and how brokers can assist their clients with their claims.

54 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Diploma of Insurance Broking

FSB503 Claims Handling for Brokers Fee A$910 per module Covers the start-to-end process of handling a claim, including Duration Five modules – Each Study Period lasts registering claims, obtaining the relevant information from the 12 weeks. (Students are able to study client along with proper documentation, and advising insurers more than one module per Study Period.) and liaising with service providers. It also covers the basics of Membership Senior Associate CIP reviewing the incidence of loss for clients, and dispute resolution. Outcome FSB504 Risk Assessment and Management ASIC RG 146 Tier 1 Insurance Broking and Compliance RG 104 and 105 Covers how to implement an insurance program for clients, identifying and assessing risks and assessing and negotiating The Institute’s Diploma of Insurance Broking is designed for complex risk portfolios. general insurance brokers employed at an account executive or broking manager level, and provides Senior Associate Certified Elective modules Insurance Professional (CIP) membership of the Institute – the FSB505 Managing Broking Operations benchmark for industry professionalism. Provides an overview of broking operations, followed by sections The Diploma develops technical knowledge and skills to on licensing obligations, business plans, marketing, financial effectively manage a broking business and provide quality management and human resources. insurance services to clients. FSB507 Insurance Products Successful completion of FSB501 Providing Customer Advice Discusses the importance of product knowledge, statutory and FSB502 Insurance Law and Regulation for Brokers will also issues, insurance documents and provides insurance product provide ASIC Tier 1 Insurance Broking compliance. profiles. Course content More information To be awarded the Diploma, students must complete four A complete listing of all AQTF competencies covered in each core modules and one elective module. It is suggested that of the Diploma modules is available on the Institute’s website at each module will encompass 50–70 hours of study time. www.theinstitute.com.au/broking. Core modules Further education FSB501 Providing Customer Advice Completion of the Diploma provides credit in to the Bachelor of Covers the start-to-end process of advising the broking Business (Insurance) at Charles Sturt University (CSU). Further customer, including developing a relationship with the client, information regarding university pathways is available on the identifying and assessing needs, preparing and presenting Institute’s website at www.theinstitute.com.au/uni_pathways. solutions to the client, preparing business submissions, implementing changes to the client’s insurance program and Enrol advising on risk, as well as reviewing the client’s insurance

To enrol visit the Institute’s website www.theinstitute.com.au/enrol professional program and the broker’s performance. or give our Customer Service Team a call on (+61 3) 9613 7280. FSB502 Insurance Law and Regulation for Brokers Covers health and safety in the workplace as well as the Acts, regulations and the Code of Practice, relevant to Australia,

which govern a broker’s day-to-day job. qualifications

www.theinstitute.com.au 55 My studies with the Institute have created more opportunities for me and resulted in my career progressing further in the industry.

Siobhán Purcell senior underwriter | Calliden

56 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 professional

qualifications

www.theinstitute.com.au 57 risk management Diploma of Financial risk management

Fee A$910 per module FSR503 Operational Management of Risk Develops the knowledge and skills required to identify the Duration Four modules – Each Study Period lasts interrelationship of operational areas within an organisation. 12 weeks. (Students are able to study more than one module per Study Period.) Students will learn how to establish risk management processes across operational areas, identify risk exposures and develop a Membership Senior Associate CIP risk register. This module will also teach students how to design Outcome and analyse treatment plans.

The Institute’s Diploma of Financial Risk Management is FSR504 Management of Specific Risk Exposures designed for those employed in or managing operational Builds on the student’s knowledge of the risk management areas, strategic planning, occupational health and safety, process and practicalities, exploring techniques and strategies fraud and project management. For those looking for the for addressing risk associated with undertaking projects, next step in their career, the Diploma will develop technical events and outsourcing, preserving reputation and financial knowledge and skills to provide effective management of risk. performance, assessing environmental and occupational health and safety impacts as well as protecting against Course content fraud and privacy breaches. To be awarded the Diploma, students must complete the following four modules. It is suggested that each module will More information encompass 50–70 hours of study time. A complete listing of all AQTF competencies covered in each of the certificate modules is available on the Institute’s website at FSR501 Introduction to the Management of Risk www.theinstitute.com.au/risk. Covers the principles and processes of risk management within an organisation. This module introduces the concepts Further education of a risk management framework, risk identification, risk Successful completion of the Diploma provides you with analysis and evaluation, risk treatment and monitoring, and entry into the Institute’s Advanced Diploma of Financial Risk review of a risk management program. Management. To learn more visit www.theinstitute.com.au/risk FSR502 Integrated Management or see the following page for details. Develops the knowledge and skills required to integrate Enrol risk management within the whole organisation while working with the principles, practices, structure and To enrol visit the Institute’s website www.theinstitute.com.au/enrol language of management. This module explores the link or give our Customer Service Team a call on (+61 3) 9613 7280. between developing an organisational framework and the organisation’s strategic planning, aims and management.

58 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Advanced Diploma of Financial Risk Management

FSR603 Risk Management Framework Fee A$1,045 per module and Documentation Duration Four modules – Each Study Period lasts Looks at how to plan, implement and monitor risk management 12 weeks. (Students are able to study frameworks and documentation, as well as the process of more than one module per Study Period.) establishing a risk management audit committee. PREREQUISITE Senior Associate CIP FSR605 Business Continuity Management Students will examine the different areas that need to be The Institute’s Advanced Diploma of Financial Risk analysed for creating a business continuity management Management is a general risk management program for strategy and learn the skills needed to implement the strategy experienced risk managers. It develops the skills and in a crisis situation. knowledge required to provide a comprehensive range of services and explores innovative strategies for dealing More information with complex risk management issues. A complete listing of all AQTF competencies covered in Course content each of the Advanced Diploma modules is available on the Institute’s website at www.theinstitute.com.au/risk. To be awarded the Advanced Diploma, students must complete a Diploma of Financial Risk Management and the Further education following four Advanced Diploma modules. It is suggested Successful completion of the Advanced Diploma also gives that each module will encompass 50–70 hours of study time. credit into Deakin University’s Master of Insurance and Risk FSR601 Corporate Governance and Compliance Management. Visit www.theinstitute.com.au/uni_pathways for more information. Examines the general frameworks, principles and guidelines for corporate governance. This module also examines Enrol the reporting and compliance requirements of corporate governance as well as the roles and responsibilities of To enrol visit the Institute’s website www.theinstitute.com.au/enrol stakeholders and of the risk manager in this process. or give our Customer Service Team a call on (+61 3) 9613 7280.

FSR602 Risk Mitigation and Financing

Gives an overview of the processes of risk treatment and professional risk financing, and the steps in implementing, monitoring and reviewing initiatives.

qualifications

www.theinstitute.com.au 59 The Institute provides me a gateway to the industry and access to a broad network of insurance and finance professionals.

Scott Gangell Risk and client services manager - fleet | Lumley Insurance

60 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 personal injury management Diploma of Personal Injury Management

FSW503 Workers Compensation Claims Processes Fee A$890 per module Provides an overview of the workers compensation/injury Duration Four modules – Each Study Period lasts 12 management claims handling process and identifies the weeks. (Students are able to study more than one module per Study Period.) milestones in this process, as well as regulatory obligations.

Membership Senior Associate CIP Students will learn OH&S and workers compensation legislative Outcome obligations around documentation requirements, procedural fairness and recoveries, injury notification and reporting. The The Institute’s Diploma of Personal Injury Management is module will also cover claim estimation, investigation processes, designed for workers compensation claims and underwriting liability, payment entitlements and monitoring, reviewing and personnel, and provides Senior Associate Certified Insurance closing a claim file. Professional (CIP) membership of the Institute. The Diploma develops the technical knowledge and skills required to provide FSW504 Workers Compensation Case Management quality workers compensation and personal injury management Examines the role of the case manager and the case for all schemes, in all jurisdictions in Australia – including the management process, the medical environment, the injury self-insurance environment. management process, and the return to work process. This module will provide an overview of case management Course content techniques and the medical environment including terminology, To be awarded the Diploma, students must complete the basic human anatomy, common injury types and typical duration following four modules. It is suggested that each module will of treatment. encompass 50–70 hours of study time. Students will also learn about dispute resolution processes FSW501 Workers Compensation Framework and negotiation skills, injury management and treatment plans, rehabilitation and return to work plans and rights and obligations Provides a snapshot of workers compensation and the different of parties to workers compensation/injury management claims. schemes operating in Australia. The module covers a history and overview of the political, social and economic landscape and examines current issues in workers compensation and stakeholder More information relationships. Students will learn the role of a claims and A complete listing of all AQTF competencies covered in each of

compensation claims officer, risk identification and underwriting the Diploma sections is available on the Institute’s website at professional concepts and occupational health and safety (OH&S). www.theinstitute.com.au/wc.

FSW502 Workers Compensation Law and Regulation Enrol Looks at the relevant Acts that impact on workers compensation To enrol visit the Institute’s website www.theinstitute.com.au/enrol in each of the jurisdictions in Australia, and the key legal elements or give our Customer Service Team a call on (+61 3) 9613 7280. qualifications and compensation principles when establishing claims. Students will learn how to maintain company records in claims management to assist in legal defence and the impact of the Privacy Act, Freedom of Information (FOI) Act and OH&S Act. This module will also examine the role of the supervisor in a workers compensation environment.

www.theinstitute.com.au 61 Studying with the Institute

The Institute offers students the options of distance The Study Periods within each stream are approximately learning, or recognition of prior learning to ensure they 12 weeks in duration. Once a student completes a Study Period can find the best way to study, reflecting their own and has received their results they have ample time experience and learning preferences. While studying, the to enrol in their next subject. Institute’s award-winning support services ensure that students are able to get the most out of their studies and Study materials always have the assistance that they need to succeed. All students, with the exception of re-enrolments, are sent study materials. Students who enrol early will receive their study The following information relates to the delivery of the materials by the commencement of the Study Period. All other Institute’s award qualifications. For information on studying students will receive their materials within 10–15 business days our Accelerated Compliance programs or any of our of enrolling. In addition to the hardcopy, all students will have online courses, please visit the Institute’s website access to softcopy materials, including the assignment, three www.theinstitute.com.au/course_delivery. weeks prior to the commencement of the Study Period via the Institute’s website. Professional qualification delivery (Certificate, Diploma, Advanced Diploma) Assessment The Institute offers two ways to gain credit for its modules During an elected Study Period students must successfully and complete a qualification: complete an assignment and an exam to pass the module.

1. Distance learning The assignments will be due for all students three weeks prior to 2. Recognition. their examination and all students will receive their assignment results one week prior to the examination.

1. Distance learning All Institute examinations are conducted online. Students have the Distance learning is a flexible method of study where ability to choose to sit their examination at an Institute venue or at comprehensive learning and assessment materials are their own place of work, using an Institute-approved person to act provided in a printed or online format, allowing you to study as their examination supervisor. at your own pace. Study and assessment takes place within For those students who are completing their examination at a Study Period which has fixed dates for beginning and an Institute venue, students may request one of four possible completing your studies. examination times throughout the exam day, however the Institute In view of training package changes, it is recommended will not be able to accommodate all requests and preference will that students complete their qualification within five years of be given to those students who enrol early. commencing the first module. Final results are available from the Institute’s website A subject pass is ‘current’ for five years, which includes the approximately three weeks after the examination date year the subject was passed. Thus, a subject passed in (please refer to the 2011 Academic Calendar on page 72 for January 2007 lapses on 31 December 2011. If a student has specific dates). passed a subject which is no longer current, they will need to be either re-examined in that subject or apply for Recognition Results of Prior Learning. Results are available online from 10.00am AEST on the day results are released. Official Statements of Attainment Study Periods are issued by mail within three business days of the results being There are six Study Periods throughout 2011, which are released online. broken into two separate Study Streams. The enrolment intake dates are every two months throughout the year. Key dates Students can pick one of either of the two Study Streams, For easy reference, the 2011 Academic Calendar includes all or mix-and-match between Study Streams. key dates for each Study Period and can be found on page 72.

Each Study Stream allows students to complete three All students will be provided a breakdown of their result modules in one year without overlapping their studies. per question.

62 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Studying with the Institute

2. Recognition The latest learning resources The Institute acknowledges skills and knowledge from a range Institute modules have comprehensive printed learning of learning settings (formal, informal and non-formal): resources that provide substantial technical detail, with self-help questions and answers. The Institute’s SMEs are • Formal drawn from the who’s who of financial services, and it shows – Credit Transfer (Exemption) in the quality of the materials. Many modules have printed learning materials to use in addition to the online materials, – Credit Transfer (National Recognition) providing an opportunity for peer learning. • Informal and Non-Formal Online support and references – Recognition of Prior Learning (RPL). The Institute provides a range of online materials and services For more information on RPL and to find out if students are designed to support and assist students to learn effectively and eligible, visit www.theinstitute.com.au/rpl. apply their knowledge and skills in the workplace. This includes online discussion forums, which they can use to submit Student Support services enquiries regarding their studies and be answered by an The true value of the Institute and what distinguishes it industry expert. The Institute’s website also features guidelines from other education providers, is the comprehensive and for writing the assignment, preparing for exams and a glossary supportive learning environment provided. The Institute offers of financial services terminology. the following support to assist students while they are studying: Education Support program Customer Service The Institute’s Education Support program provides access to The Institute’s expert Customer Service team are available to experienced and qualified insurance professionals in a one-on- assist students with any queries that they may have relating to one mentoring situation to support students with their studies. the administration of their enrolment, such as course details, Mentors are experts in their field and are ready and able to Study Period transfers and special consideration, as well as provide assistance and guidance with studies. Recognition of Prior Learning, assessment and membership. Student newsletters Please contact the Customer Service team directly on (+61 3) Institute student newsletters provide the latest information on 9613 7280 or email [email protected]. module and assessment requirements, learning and study tips Student Support staff and forthcoming workshops and conferences. To ensure that students get the most out of their learning Institute study groups experience, the Institute’s dedicated Student Support staff are Institute study groups are an ideal way to make contact with available to provide them with guidance and assistance while other students who have enrolled in the same module, and they work towards their qualification. Student Support provide who have nominated to participate in a study group. assistance ranging from assistance with study material content queries, to explaining assignment and exam requirements, The study groups are initiated by Student Support, but run by making the most of online study and mentoring, to advising the students themselves. Study group members can choose on credit transfers and educational pathways. to interact via email, phone or face-to-face if suitable. Study groups can be a great support to learning and provide a way studying Subject Matter Experts to network with industry contacts from all over the world. The Institute has Subject Matter Experts (SMEs) to assist

students throughout their study. Contacted via the Institute’s More information with online discussion forums, they hold a wealth of financial For more information on student administration, course

services knowledge and respond to requests for assistance delivery, assessment, student support services and academic the within one to two business days. awards and scholarships visit www.theinstitute.com.au/study.

institute

www.theinstitute.com.au 63 Studying at the Institute has given me access to a wide range of resources and a valuable network of industry professionals to assist in my career development.

Megan Duckworth underwriter | QBE

64 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 www.theinstitute.com.au 65 membership

The Institute is first and foremost the leading professional ANZIIF Post-nominal membership organisation for the insurance and finance industry in the Asia-Pacific. Enrolling in any Institute Certificate Fellow ANZIIF (Fellow) CIP IV, Diploma or Advanced Diploma will provide complementary Senior Associate ANZIIF (Snr Assoc) CIP Student Membership, and upon completion of qualifications, access to internationally-recognised membership levels. Associate ANZIIF (Assoc) CIP Student Membership Affiliate ANZIIF (Aff) Allied ANZIIF (Allied) Student Membership aims to support and enhance the careers of students while they are studying towards a Student No post-nominal professional qualification. Upon enrolling, a student automatically becomes a Student Code of Ethics Member, joining thousands of other insurance and finance ANZIIF CIP members meet the ANZIIF Code of Ethics and students and a community of more than 15,000 professionals conduct themselves with integrity and dignity, acting in who are committed to fostering high professional standards an ethical manner in their dealings with the public, clients, and contribute to an innovative, vibrant and competitive customers, employers, employees, colleagues and the industry. Being an Institute member is often a requirement for broader insurance and finance industry. career progression in many insurance companies.

Student Members are able to take advantage of a range Membership database of membership benefits. The Student level of membership The ANZIIF membership community is listed in a searchable provides the same level of access to all benefits excluding the database on the Institute’s website - displaying your use of the Certified Insurance Professional (CIP) post-nominal, membership level and years of service to the professional which becomes available to students upon completion of insurance industry. their qualification. Knowledge Membership Benefits Events Institute members receive access to a world of information Recognition and opportunities, through discounts to hundreds of Institute Institute members are internationally recognised and renowned conferences, seminars, and training events each year to throughout the financial services industry as professionals support study and career development, along with access to who are qualified, regulated and truly knowledgeable in their a vast bank of knowledge and experience through networking field. Being an Institute member shows your dedication to with experts in every field of insurance. career development and progression. Professional Development The ANZIIF Post-nominal Institute members receive discount access to Insite, the Members of the Institute are able to be recognised for their Institute’s online professional development and learning level of experience and qualifications through use of the management system. Allowing them to plan, track and report ANZIIF post-nominal. The ANZIIF CIP post-nominal is the most against their compliance, learning and development progress widely used and recognised mark in the insurance industry at their own pace - all without leaving their desk! They will also representing insurance professionals who are qualified, gain access to a 9 per cent discount at the Co-op Bookshop, regulated and who maintain their skills and knowledge. While Australia’s largest provider of educational and lifelong learning Student Members have no post-nominal, upon completion of resources, which has a facility for customers to order online. a qualification, Student Members are automatically upgraded My Institute to the appropriate level of Institute membership My Institute is the Institute’s online portal to all personalised and corresponding post-nominal. Institute services including Insite, member’s personal Learning Portfolio, online discussion groups, study tools and information about local branch events.

66 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 Networking Community Institute members are part of a vast community of insurance Institute members are part of a community of insurance professionals committed to their industry. Through networking professionals across 30 countries – people from all facets events or any of the hundreds of other professional of the industry who are joined together by their interests and development workshops and seminars that the Institute runs commitment to professionalism. The member community each year we assist members to connect with the right people exchange ideas, establish lifelong connections and create and build long-lasting professional relationships. value and new knowledge that benefits the entire industry through groups such as Generation i, discussion groups, Up to 40 per cent member discounts to Institute events study groups and the education support program. Institute members receive discounted access to numerous Institute professional development and networking events to Scholarships keep them in the know throughout the year. Institute events Institute members have access to industry scholarships that provide market knowledge, local and global trends and best can open doors to career and travel opportunities in London, practices delivered by prominent figures to empower members the United States, Asia and Australia. in their career. Retired and Maternity Leave members Information Members who retire from the industry or go on maternity Being an Institute member opens up a world of information leave gain access to a 50 per cent discount to their for the insurance industry. membership fees. This means that members can continue to receive all member benefits and remain connected to the Journal insurance community. Institute members receive the Institute Journal, the flagship insurance and financial services publication which keeps them To find out more about membership please visit up-to-date on industry topics and trends, profiles of industry www.theinstitute.com.au/membership. leaders, and provides the latest thinking on technical issues. The Journal covers every field of insurance and is the longest running and most widely read insurance publication in the Asia-Pacific region.

Journal Online Library Institute members also enjoy access to the Journal online allowing them to search through a back catalogue of Journals as reference.

Higher Education Institute members get exclusive access to graduate and post-graduate university programs to continue their studies to the highest levels. membership

www.theinstitute.com.au 67 Membership

Membership levels There are several levels of membership that reflect the designates members who undertake an annual different qualifications and experience of Institute members. program of continuous professional development to All members enjoy the support of an international community maintain their skills and knowledge at the highest levels. of like-minded professionals. Certified Insurance Professional The membership tables below explain the eligibility (CIP) members are afforded the CIP post-nominal which requirements for each member level.

CIP membership

CIP Level Eligibility Post-Nominal Election Fee Annual Fee

Fellow Fellowship is the most prestigious level of membership, ANZIIF (Fellow) CIP A$185 A$395 representing insurance professionals who have completed postgraduate qualifications in financial services and have strong technical knowledge of, and experience in, the industry.

Senior Senior Associate membership represents financial ANZIIF (Snr Assoc) CIP A$185 A$330 Associate services professionals who have completed a specific insurance/finance qualification equivalent to the Institute’s Diploma or Advanced Diploma level.

Associate Associate membership represents financial services ANZIIF (Assoc) CIP A$185 A$295 professionals who have completed a specific insurance/ finance qualification equivalent to the Institute’s Certificate IV level.

Non-CIP membership

Member Level Eligibility Post-Nominal Election Fee Annual Fee

Affiliate The Affiliate level of membership recognises members who ANZIIF (Aff) A$185 A$260 have achieved the level of education and knowledge that is required and regulated in their local industry. In Australia the criteria for entry into the Affiliate level is successful completion of ASIC Compliance (Tier 1 or 2). In Hong Kong the criteria for entry to the Affiliate level is successful completion of the Insurance Intermediaries Qualifying Examination (IIQE).

Allied The Allied level of membership represents a strong cohort ANZIIF (Allied) A$185 A$260 of dedicated professionals who support insurance and the insurance industry. These members do not have a specific insurance or finance qualification.

Student No post-nominal Complimentary Complimentary

The information in this table is true and correct at the time of publishing. The Australian and New Zealand Institute of Insurance and Finance reserves the right to amend the information contained herein. Any amendments made to these tables during 2011 will be made available on the Institute’s website at www.theinstitute.com.au.

Gaining CIP membership with overseas qualifications The Institute offers special membership arrangements for of the existing Institute CIP and membership arrangements for graduates with overseas qualifications.The Overseas overseas graduates. If your qualification is not listed, you may Qualification Table can be found on the Institute’s website submit your qualification for consideration of membership (www.theinstitute.com.au/membership_pathways), and lists all eligibility to [email protected].

68 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 CIP Fellowship Members are eligible to upgrade their membership to the most The Fellowship Passport system considers a variety of factors in prestigious Institute membership level of Fellow CIP by obtaining an applicant’s professional knowledge and experience, including: 100 points through the Fellowship Passport system, outlined in the postgraduate qualifications, industry contribution, relevant table below. To become a Fellow CIP, the following criteria must university studies and professional development that contribute be met: to the requirements for CIP Fellowship. Each factor is assigned • a total of 100 points a specific value using a points-based system. • a minimum of two years as a qualified member of the Prospective CIP Fellows are able to allocate and combine the Institute prior to applying points under each category, as relevant to their situation, to attain • a minimum of five years of insurance/finance industry work the required 100 points to be eligible for CIP Fellowship. experience Applicants will be required to supply certified documentation • successful completion of the Business Ethics Programme (BEP). supporting their application.

Fellowship criteria and point allocation

Category Points

List of approved Postgraduate programs assessed by the Institute as meeting the Fellowship requirements 100 Deakin University (Australia): • Graduate Diploma of Insurance • Graduate Diploma of Financial Services (Insurance) • Graduate Diploma of Financial Services (Financial Planning) • Master of Insurance and Risk Management • MBA (Insurance/Risk/Financial Planning specialisation required) • Master of Commerce (Insurance/Fin Planning specialisation required) Charles Sturt University (Australia): • Master of Applied Finance (need to also have completed an Institute award course to receive the 100 points) Nankai University (China): • Postgraduate qualification with at least six subjects majoring in Insurance The Central University of Finance and Economics (CUFE) (China): • Postgraduate qualification with at least six subjects majoring in Insurance Postgraduate Certificate or Diploma with four subjects directly applicable to the insurance/finance/risk sector (insurance, life insurance, financial 80 planning, superannuation, reinsurance, risk management, actuarial studies, loss adjusting, distribution and insurance law)* Postgraduate Certificate with three subjects directly applicable to the insurance/finance/risk sector (insurance, life insurance, financial planning, 60 superannuation, reinsurance, risk management, actuarial studies, loss adjusting, distribution and insurance law)* Postgraduate Diploma or higher in finance, commerce, business, law, economics, accounting, management, marketing* 60 Charles Sturt University (Australia): Bachelor of Business (Insurance) 35 Senior Associate CIP membership or Completion of an AQTF Diploma or Advanced Diploma in: 25 • Insurance Broking • Financial Planning • General Insurance • Risk Management • Loss Adjusting • Life Insurance • Superannuation • Personal Injury Management University of Technology Sydney (UTS) (Australia): Executive Certificate in Insurance 25 (need to also have completed an Institute qualification) Associate CIP membership or completion of an AQTF Certificate IV in General Insurance 25 10 or more years’ industry experience (written application is required confirming that insurance/financial services activity has been the applicant’s 10 central role for 10 or more years)

Completion of RG146 Tier 1 Compliance or other overseas law and regulation training recognised by the Institute ** (needs to be more specific) 10 membership

Note: * points may only be accrued once for undertaking one postgraduate qualification in a nested qualification ** points may only be accrued once for undertaking ASIC compliance modules. Similarly, an overseas applicant can only accrue points once for undertaking other overseas law and regulation training recognised by the Institute NB. Points are cumulative provided that the qualifications attained are different

www.theinstitute.com.au 69 Membership

CIP and ongoing professional Institute events development opportunities The Institute offers a comprehensive range of conferences, The Institute places great importance on the ongoing seminars, training and networking opportunities and events to professional development of its members. The support the careers of insurance professionals. These events professionalism of the insurance and financial services regularly take place all over Australia, New Zealand and Hong industries is dependent on all participants maintaining a Kong and are also conducted in many other major centres rigorous professional development program to reinforce around Asia. their skills and knowledge beyond their qualifications. The Institute also runs a range of discussion groups in The professional development requirements of CIP selected capital cities. These groups regularly meet to discuss membership are flexible, allowing CIPs the freedom to build specialised areas of interest to members. Institute CIPs and a professional development program that best suits their non-qualified members receive up to 20 per cent discount career requirements. on registration to this type of event.

All professional development activities, whether delivered by Institute events are a valuable resource for networking and the Institute, the workplace or any other education provider, professional development opportunities, and all insurance contribute towards a member’s annual CIP requirement. professionals are encouraged to take advantage of these opportunities and become involved in their local events. Examples of activities that can be used to claim CIP points include: Membership administration • attendance at seminars and conferences How to elect to become a CIP member after • online professional development completing a qualification • in-house training Upon completion of a qualification Student Members are • professional reading automatically upgraded to the appropriate professional level of ANZIIF membership and become a Certified Insurance • successful completion of an award course module Professional (CIP). Those who studied with the Institute prior • presentation at a seminar to this will need to follow the process below: • mentoring Institute professional qualification students. 1. Identify the appropriate CIP level and corresponding entry For more information on the professional development requirements (see the membership tables on page 68). requirements of CIP membership and the types of activities 2. Calculate the appropriate membership fee depending on the that can be counted towards CIP points, visit the Institute’s membership level. An election fee is applicable in addition to website at www.theinstitute.com.au/cip. the annual membership fee. The Institute offers a wide range of professional 3. Students qualifying for membership through an Institute development opportunities for CIPs to maintain their course can apply online via the Institute’s website at technical and practical skills and industry knowledge. www.theinstitute.com.au/membership. Alternatively, applicants can obtain a Membership Election form from the website or by contacting Customer Service at [email protected], or telephone (+61 3) 9613 7280.

Complete the Membership Election form and send via post with appropriate payment to the Australian and New Zealand Institute of Insurance and Finance, Level 8, 600 Bourke Street, Melbourne VIC 3000, Australia.

70 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011 External qualifications Post a Membership Renewal form to: The Australian and New Zealand If applying for membership with qualifications from another Institute of Insurance and Finance education provider, applicants will need to provide certified Level 8, 600 Bourke Street copies of their qualifications via post with the application (for Melbourne VIC 3000 Australia information on how to have documents certified please visit www.theinstitute.com.au/membership). The Institute’s website Bulk renewal lists the educational requirement for each membership level. This process is applicable if membership is arranged by an As a professional association, the Institute reviews its employer through a company bulk renewal process. To find membership criteria, benefits and eligibility requirements out more about this process contact the Institute’s Membership from time to time. Team at [email protected]. All decisions on election to membership will reflect the How to upgrade a member level requirements at the time of application, there is no guarantee of admission at the same level of membership that applied Upon successful completion of an Institute award course your when studies were completed. membership will be automatically upgraded to the eligible CIP membership level. An upgraded member’s enhanced status How to renew and higher skill level is reflected through the issuing of a new annual membership membership certificate and through access to a higher Institute post-nominal. Institute membership renewal is due and payable by 31 January of each year. Those who qualify with another organisation may upgrade their membership via a Membership Upgrade form which is available Current members can renew: from the Institute’s website. This form should be completed and Online returned with payment and a certified copy of the qualification Renew membership on the Institute’s website at certificates and/or academic transcript to the Australian and www.theinstitute.com.au/membership. A valid credit card, your New Zealand Institute of Insurance and Finance, Level 8, Institute Master ID and date of birth will be required to do this. 600 Bourke Street, Melbourne VIC 3000, Australia. The membership upgrade fee is A$95. Email Complete and email a Membership Renewal form which is How to reinstate membership available from the Institute’s website to the Customer Service Team at [email protected]. If membership has expired for more than 12 months, applicants can easily reinstate their membership by downloading Telephone and completing a Reinstatement Application form from Contact Customer Service on www.theinstitute.com.au/membership and then contacting (+61 3) 9613 7280 to pay by credit card. our Customer Service on (+61 3) 9613 7280. Fax For more information Complete and fax a Membership Renewal form which is on membership available from the Institute’s website to the customer service team at (+61 3) 9642 4166. For more information on any of the CIP services, contact our Customer Service team at [email protected] or by calling (+61 3) 9613 7280. membership

www.theinstitute.com.au 71 2011 academic calendAr

FEB FEB 2011 27/01/2011 2011 1 Study Period Commences 08/03/2011 MAR Enrolment Change MAR Cut-Off 1 10/03/2011 Study Period 22/03/2011 Commences Study Period Study Assignment Due 19/04/2011 APR Enrolment Change APR 07/04/2011 Cut-Off Assignment Results

28/04/2011 14/04/2011 Assignment Due Exam MAY 19/05/2011 MAY 05/05/2011 Assignment Results S t r eam A Results Period Study 26/05/2011 Exam 12/05/2011 2 JUN Study Period JUN 16/06/2011 Commences Results S t r eam B 28/06/2011 Enrolment Change Cut-Off JUL JUL 12/07/2011

P eriod S tudy Assignment Due 14/07/2011

28/07/2011 2

Assignment Results Study Period AUG AUG

Commences 04/08/2011 30/08/2011 Exam Enrolment Change Cut-Off 25/08/2011 SEP SEP

S t r eam A Results 13/09/2011 P eriod S tudy Assignment Due 01/09/2011 3

29/09/2011 Study Period

Assignment Results Commences OCT OCT 06/10/2011 18/10/2011 Exam Enrolment Change 27/10/2011 Cut-Off

S t r eam B Results

P eriod S tudy 02/11/2011 NOV NOV Assignment Due 17/11/2011

3 10/11/2011 Assignment Results Study Period Commences DEC DEC 24/11/2011 17/01/2012 Exam Enrolment Change Cut-Off 15/12/2011 S t r eam A Results 24/01/2012 JAN P eriod S tudy JAN 2012 Assignment Due 2012 09/02/2012 Assignment Results

Students must enrol before the FEB/ Study Period commences to 16/02/2012 FEB/ MAR MAR ensure access to study materials. Exam

06/03/2012

S t r eam B Results

72 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2010

Australian and New Zealand Institute of Insurance and Finance Level 8, 600 Bourke Street Melbourne Victoria 3000 Australia Telephone +61 3 9613 7280 Facsimile +61 3 9642 4166 [email protected] www.theinstitute.com.au

ABN 56 004 320 076 A Company Limited by Guarantee. Incorporated In Victoria Australia.

76 Australian and New Zealand Institute of Insurance and Finance Institute Handbook 2011