Loss Adjusting industry guide 2014

www.theinstitute.com.au/la

Australian and New Zealand Institute of and Finance Contents

Level 8, 600 Bourke Street, 3000 six seven sixteen Telephone +61 3 9613 7280 (New Zealand Freecall 0800 103 675) ~ ~ ~ Facsimile +61 3 9642 4166 [email protected] CAREER MEMBERSHIP WORKSHOPS www.theinstitute.com.au PATHWAYS AND EVENTS

CONNECT WITH THE INSTITUTE

twentyfive thirty thirtyfour ABN 56 004 320 076. A Company Limited by Guarantee. Incorporated In Victoria Australia. ~ ~ ~ The head office of the Australian and New Zealand Institute of Insurance and Finance is based in Melbourne, Australia. All events, courses, qualifications, enrolments and membership services are administered at head office. Questions or concerns about course enrolment, study or membership should be PROFESSIONAL STUDYING WITH ACADEMIC directed to the Institute’s Customer Service team. All prices are quoted in Australian dollars and exclude GST unless stated otherwise. © Australian QUALIFICATIONS THE INSTITUTE CALENDAR and New Zealand Institute of Insurance and Finance. Copyright 2014. The information presented in this publication is true and correct at the time of publication. The Australian and New Zealand Institute of Insurance and Finance reserves the right to amend the information contained herein. Any amendments made during 2014 will be made available on the Institute’s website at www.theinstitute.com.au. WELCOME ~ After 130 years of operation, the Australian and New Zealand Institute of Insurance and Finance (the Institute) remains the premier professional membership body for the insurance industry and the leading insurance and financial services educator in the Asia-Pacific.

This brochure outlines the During their studies, students The Institute’s range of practical Institute’s most popular become student members and comprehensive insurance products and services, of the Institute, gaining qualifications are supported by including: access to all the professional a complete collection of student membership benefits on support services, ensuring that • professional qualifications in offer and joining a network of the people who study with us loss adjusting more than 16,000 insurance are competent, compliant and The Australian • professional membership professionals in over 50 confident in their insurance and the recognition of countries. careers. and New Zealand skills and knowledge that accompany the ANZIIF post- On completion of their The Diploma of Loss Institute of Insurance nominal Institute qualification, students Adjusting has been developed automatically become fully- in collaboration with the • workshops across a range and Finance (the qualified members and Australasian Institute of of foundation, intermediate are able to use an ANZIIF Chartered Loss Adjusters Institute) is proud and advanced subject areas post-nominal to mark their (AICLA). AICLA is a leading related to the industry to introduce its loss level of knowledge and professional body for loss • online professional skills. Institute members are adjusters in Australia, New adjusting product development management recognised as true industry Zealand and Asia. tools. professionals and receive a range for 2014. Successful completion of As a Registered Training range of benefits alongside LA501, LA502, LA503 and Organisation (RTO), the their post-nominal, including LA504 fulfils the educational Institute develops qualifications access to a Membership requirements to obtain AICLA’s under the Australian Faculty with sector-specific Certificate in Loss Adjusting Qualifications Framework resources to aid professional Practice. Completion of the (AQF). All qualifications are development, a subscription Diploma of Loss Adjusting is the designed by industry and to the Journal—the industry’s educational basis for Associate experts and are leading publication, a 30 per membership of AICLA and internationally recognised. cent discount on Institute Chartered Loss Adjuster status. The qualifications incorporate events, access to more than For more information visit traditional distance learning 200 hours of online continuing AICLA’s website at education with up-to-date professional development www.aicla.org. best practice thinking across a content and a range of other range of specialist fields. services.

four five5 Career Pathways Insure your career with the Institute ANZIIF Membership The following illustrates the Institute’s range of products and pathways to enter and develop an expertise in loss adjusting. Insurance is vital. As an insurance professional, you know that modern society couldn’t function without LOSS ADJUSTING it. Shipping, construction, factories, offices, motoring, COURSES AND ANZIIF MEMBERSHIP membership travel, home ownership, sports events and festivals QUALIFICATIONS LEVELSpg 9 benefits couldn’t happen without insurance. ~ ~ ~ ANZIIF membership is insurance for your career. It gives you access to mentoring and to people to ask • Passport System pg 9 A RANGE OF Fellow MEMBERSHIP for support as well as helping and encouraging you • Merit pg 31 CIP BENEFITS and your career to grow. INCLUDING: Being recognised as a professional who is qualified Professional recognition ~ and committed to the industry is the first step in a Online professional lifelong career journey. With ANZIIF membership, Senior development • Diploma of Loss Associate you are able to demonstrate your knowledge and ~ Adjusting pg 26 CIP The ANZIIF Journal professionalism through the widely-recognised ~ ANZIIF post-nominal on your business cards, email Discounts to signature and other business stationery. ANZIIF events ~ ANZIIF members are recognised as true WORKSHOPS Associate Networking and professionals in their field by their colleagues, their Foundation level to CIP community employers and the industry at large. Membership not Advanced pg 17 only supports you when you need it, it also provides Further details pg 7 the tools you need to continue to succeed. It puts you and your career in front.

Affiliate SO ANZIIF MEMBERSHIP ISN’ T JUST INSURANCE FOR YOUR CAREER; IT’ S AN INVESTMENT IN YOUR FUTURE.

Allied Certified Insurance Professional (CIP) and Faculty of Claims

six6 seven ANZIIF POST NOMINALS

allied affiliate associate senior FELLOW ANZIIF ANZIIF ANZIIF associate ANZIIF (Allied) (Aff) (Assoc) ANZIIF (Fellow) CIP (Snr Assoc) CIP CIP Stand out from the crowd

The ANZIIF post-nominal shows your peers that you’ve got what it allied affiliate associate senior fellow takes to excel in the industry and in your career. Joining the Institute’s ~ ~ cip associate cip community of professionals expands your network and gives you the cip Allied members Affiliates have ~ ~ recognition to get where you want to go. are valued achieved ASIC Associates have ~ Fellows of the professionals RG 146 Tier 1 or an Institute Senior Associates Institute meet CERTIFIED INSURANCE Ethics, hold an insurance CIP members include Fellow who work in 2 Compliance Certificate IV have an Institute the entry PROFESSIONAL (CIP) qualification, maintain their CIP, Senior Associate CIP or support the (Australia) or or a recognised Diploma or requirements Institute membership provides skills and knowledge and and Associate CIP members. insurance have completed equivalent. Advanced set out in the a pathway to ensure your meet high standards of These qualified members are industry but the Insurance Diploma or Fellowship commitment to becoming integrity. also able to join an Institute do not have Intermediaries a recognised Passport Faculty. Membership Faculties an insurance Qualifying Exam equivalent. System. an insurance professional is All CIP members are required provide a professional home qualification. (Hong Kong). recognised as you work to complete and record a for members to interact with towards your career goals. minimum of 25 CIP points of peers and receive a customised professional development The CIP designation represents and relevant membership (PD) activities each calendar MORE INFORMATION industry professionals who experience. abide by the ANZIIF Code of year (January to December). For more information on Institute membership, including the Fellowship Passport System, please visit www.theinstitute.com.au/membership.

eight nine ANZIIF CIP PROGRAM POINTS ALLOCATION The following table illustrates how to gain CIP points required to meet the PD requirements of ANZIIF membership.

ACTIVITY EXAMPLES AND FURTHER DETAIL Points gained max. points allowed PROFESSIONAL Completion of module QUALIFICATION 20 points per module

ARTICLE Preparation and publication of an article in a PUBLICATION professional journal or online publication 10 points per article

ASIC TIER 1 Completion of two AQF award course modules which meet 40 points COMPLIANCE ASIC Compliance requirements

ASIG RG146 TIER 2 Completion of modules 10 points COMPLIANCE ATTENDANCE AT Attendance at industry seminars, conferences, INDUSTRY EVENTS workshops or in-house training 1 point per hour or 3 points per half-day 15 points per event (LONG DURATION)

ATTENDANCE AT Attendance at an industry breakfast/lunch/ INDUSTRY EVENTS evening meeting or discussion group 1 point per event (SHORT DURATION)

CPA AUSTRALIA Completion of modules FOUNDATION PROGRAM 15 points per module

INDUSTRY GROUP Membership of an insurance/financial services 5 points per year (pro-rata points apply if not PARTICIPATION industry board, council or committee a member for a full calendar year)

INSTITUTE Participation as either a mentee or mentor 1 point per hour 15 points per year MENTORING PROGRAM

INSURANCE AND Including attendance at workshops, in-house FINANCIAL and face to face training 1 point per hour or 3 points per half-day SERVICES TRAINING

ONLINE PD Completion of online interactive PD 1 point per hour 15 per activity with self-assessment

OVERSEAS Demonstrated compliance with PD requirements determined Up to 25 points MEMBERS CIP by the industry regulators in your country of residence

PRESENTATION Preparation of a presentation for a seminar, training course, 1 point per hour or 3 points per half-day 15 points per year PREPARATION conference, workshop, breakfast etc

PRESENTATIONS Presenting at a seminar, training course, 2 points per event (repeat presentations are not counted) 15 points per year AND SPEECHES conference, workshop, breakfast etc

PROFESSIONAL Completion of general professional development activities 10 points DEVELOPMENT (e.g. IT or management or public speaking training) 1 point per hour or 3 points per half-day per activity ACTIVITIES

READING INDUSTRY Articles, books, journals, online content that is not assessed 1 point per hour 7 points CONTENT

ten10 eleven11 Be the one in Make connections the know that count

ONLINE PROFESSIONAL ANZIIF ONLINE Becoming an Institute member means joining a community DEVELOPMENT LIBRARY of over 16,000 professionals who are career and industry-focused. ~ ~ The Institute also holds hundreds of industry events to allow you Develop your skills and knowledge Gain access to a growing collection of to further expand your network in person. Institute members with hundreds of hours of high quality, articles, news, essays, features, videos, receive a 30 per cent discount to these events. interactive professional development glossaries and content on a range Institute membership not only means access to a huge network activities including video, articles and of insurance, finance, business and of employers, employees and future colleagues but it also provides interactive modules, available free to all management topics. access to the Institute’s online member services. members for self-paced learning. The Institute’s online member services connect you with your professional community and assist you to maintain CONNECT THE JOURNAL your skills from anywhere in the world. ~ ~ Connect with ANZIIF and its The Journal is the leading insurance members – your peers - via industry publication, providing up-to-date our online community and technical and general information content channels. contributed by leaders in their fields. As an Institute member you will receive the Journal magazine five times a year and have access to the online catalogue of past Journal articles.

twelve thirteen Become a member of the Student membership— Faculty of Claims the journey begins

Being an Institute member is one thing; being the member of the Claims Faculty Students who enrol in any of the Institute’s award-winning qualifications is something extra. As a Claims Faculty member, you’re a part of a community of automatically become student members and gain access to the full range professionals who understand what it is to do the job that you do. Your Faculty membership of membership benefits. Student membership provides a community of is the key to a host of resources, from blog posts, technical articles and videos to support while you work towards becoming a qualified Institute member. interactive personal development tools, events and discussion groups, Upon completion of their qualification, students are upgraded to the all tailored and designed specifically for your role and your career. appropriate membership level at no charge.

FIND OUT MORE Professionally qualified CIP • ANZIIF Diploma of Loss experience and allows you to members of the Institute Adjusting or a recognised engage with peers on topics For more information on the Institute’s member services, visit www.theinstitute.com.au/membership (Associate CIP, Senior equivalent of interest based on your .

Associate CIP and Fellow • ANZIIF Certificate IV or field of expertise. CIP) are immediately eligible ANZIIF Diploma of General As a Faculty member you can to join an industry Faculty. Insurance or a recognised join online discussion forums Institute Membership Faculties equivalent ANZIIF Diploma allowing you to engage and represent the specific industry of Insurance Broking or a debate with other Institute qualifications and the career recognised equivalent plus members on industry topics, path of each member. industry experience (three or network and discuss news To be eligible to join the Claims years in a claims or loss and relevant information with Membership Faculty, you must adjusting role). Being a part peers and colleagues around have completed one of the of this Faculty customises the globe. following: your membership

fourteen14 fifteen15 2014 Workshops Workshops and Events

The Institute’s workshops and events assist those working or looking to work in loss adjusting to develop their skills and expand their practical

knowledge to provide better service to clients. The Institute’s workshops are FOUNDATION/ FOUNDATION INTERMEDIATE ADVANCED also an invaluable refresher for those who are more experienced and would INTERMEDIATE LEVEL LEVEL LEVEL LEVELS like to sharpen their abilities in various areas. pg 18 pg 20 pg 21 pg 19

CORPORATE AND your company’s specific The Institute takes great care in

CUSTOMISED training needs. customising education products • Essentials • Essentials of • Commercial • Business WORKSHOPS to reflect market conditions. The Institute can customise of Business Managing Risk Insurance Interruption Claims The subject matter and mode of Through the Institute’s any number of education Interruption Fundamentals Management delivery is structured to ensure customised education service, products—from industry Insurance • Essentials of • Creating Value in your employees receive the you can gain the competitive qualifications to facilitated • Essentials of Industrial Special General Insurance. maximum benefit of training edge for your organisation by workshops—to incorporate Insurance Law Risks Insurance and are able to transfer this incorporating company culture scenarios, case studies and learning to the workplace. To and products into staff training examples drawn from your ensure that employees are not and compliance workshops own workplace. This not only out of the office too long, the and programs. The Institute’s adds product and company Institute’s workshops can be Sales Team works with you and relevance to the materials but held either on company training your learning and development is also a very effective method sites using facilitators sourced MORE INFORMATION team and technical experts to of retaining organisational by the Institute or at the For more information on contextualising your workshops and delivery options, email our Sales develop education products knowledge by incorporating Institute’s training facilities. Team at [email protected] or call (03) 9613 7280 (New Zealand Freecall 0800 103 675). and services tailored to meet it into training programs.

sixteen16 seventeen17 ESSENTIALS OF BUSINESS ESSENTIALS OF ESSENTIALS OF INTERRUPTION INSURANCE INSURANCE LAW MANAGING RISK

DURATION Half-day DURATION Half-day DURATION Full day DELIVERY Facilitated workshop DELIVERY Facilitated workshop DELIVERY Facilitated workshop CIP POINTS 3 CIP points CIP POINTS 3 CIP points CIP POINTS 6 CIP points LEVEL Foundation LEVEL Foundation LEVEL Foundation/intermediate LOCATIONS (Australia only) Available in LOCATIONS (Australia only) Available in LOCATIONS (Australia only) Available in your nearest capital city your nearest capital city your nearest capital city FOUNDATION / This workshop is designed to provide This workshop provides participants with This workshop provides participants with a participants with a sound working knowledge a sound knowledge and understanding of broad understanding of risk management, and understanding of the key concepts the legal system and the key legislation that including the AS/NZS ISO 31000: 2009 risk and issues related to business interruption governs the practice of general insurance management standard. insurance. The workshop provides interactive in Australia. It comprises four sections, covering an learning activities to allow participants to INTERMEDIATE WORKSHOPS LEVEL overview of risk management, the process, apply their knowledge and understanding. WHO SHOULD ATTEND risk treatment and the monitoring and This program is suitable for both new review of programs. WHO SHOULD ATTEND entrants to insurance and those already This program is suitable for new entrants working in the industry who require a WHO SHOULD ATTEND to insurance who require a broad more comprehensive knowledge and This program is suitable for employees of understanding of business interruption understanding of insurance law and general insurance and insurance broking insurance. It is also suitable for those regulations and how they impact on or those already working in these sectors with some insurance experience who are work practices. who require a broader knowledge and considering a career path encompassing FOUNDATION LEVEL WORKSHOPS FOUNDATION understanding of risk management in business interruption insurance. LEARNING OUTCOMES relation to client insurance risk exposures. Upon completion of the program, LEARNING OUTCOMES participants should be able to identify LEARNING OUTCOMES Upon completion of the program, and explain: Upon completion of the program, participants should be able to: • some key aspects of the relevant participants should understand: • describe business interruption insurance legal system • the principle benefits of risk and its common features and sections • the features of common law and management • describe the common extensions statute law • how to apply the risk management available for business interruption • key legislation affecting the general process to the treatment options for insurance insurance sector dealing with risk exposures • define the underwriting considerations • the concepts of the duty of utmost good • the methods of transferring and • calculate sums insured. faith, the duty of disclosure and average financing risks

• the key regulatory bodies. • how to monitor and review a risk management program.

eighteen18 nineteen19 COMMERCIAL INSURANCE ESSENTIALS OF BUSINESS INTERRUPTION CREATING VALUE IN FUNDAMENTALS INDUSTRIAL SPECIAL CLAIMS MANAGEMENT GENERAL INSURANCE RISKS INSURANCE

DURATION Full-day DURATION Half-day DURATION Half-day DURATION 4 x half-days DELIVERY Facilitated workshop DELIVERY Facilitated workshop DELIVERY Facilitated workshop DELIVERY Facilitated workshop CIP POINTS 6 CIP points CIP POINTS 3 CIP points CIP POINTS 3 CIP points CIP POINTS 12 CIP points LEVEL Intermediate LEVEL Intermediate LEVEL Advanced LEVEL Advanced LOCATIONS (Australia only) Available in LOCATIONS (Australia only) Available in LOCATIONS Available in your LOCATIONS (Australia only) Available in your nearest capital city your nearest capital city nearest capital city your nearest capital city

The Commercial Insurance Fundamentals Essentials of Industrial Special Risks This workshop builds on the skills and These workshops provide managers and workshop looks at the classes of commercial Insurance provides participants with a basic knowledge learned in the Essentials of executives in general insurance companies insurance associated with commercial knowledge and understanding of industrial Business Interruption workshop. It will give with the skills and knowledge to maximise

property, business interruption and liability. special risks (ISR) participants an understanding of how to value generation. ADVANCED WORKSHOPS LEVEL It focuses on the underwriting principles and the opportunity to apply their learning to manage business interruption claims. The workshops outline the key functions at and risk assessment processes related to work-based scenarios. every level of a general insurance company’s commercial insurance. WHO SHOULD ATTEND operations in relation to revenue generation, WHO SHOULD ATTEND This program is suitable for people with cost management, financial capital WHO SHOULD ATTEND This program is suitable for new entrants experience working in the insurance management and business environment This program is suitable for participants to insurance who require an overview of sector and who require an in-depth management. who are undertaking, or are about to industrial special risks insurance. It is also understanding of business interruption undertake, a career in commercial suitable for those with some insurance claims management. It is suitable for WHO SHOULD ATTEND insurance. It is recommended that experience who have not been exposed those seeking to learn more about This program is suitable for new or existing participants have two to three years’ to the concepts behind ISR insurance business interruption insurance claims participants with boardroom, executive or insurance industry experience. and the role it plays in relevant insurance management. The program assumes that

INTERMEDIATE LEVEL WORKSHOPS INTERMEDIATE senior responsibilities or those who are programs. participants have a working knowledge of undertaking, or about to undertake, such LEARNING OUTCOMES business interruption insurance. a role. At the conclusion of the program, LEARNING OUTCOMES LEARNING OUTCOMES participants should be able to: Upon completion of the program, LEARNING OUTCOMES participants should be able to identify and At the end of this workshop, participants • describe the cover provided by contract At the conclusion of the workshops, explain: should be able to: works insurance, industrial special risks participants should be able to explain and insurance and business packs • the purpose and features of industrial • explain the triggers required for a valid identify: special risks insurance business interruption claim • describe the strategies used and the • the key drivers of revenue generation issues associated with underwriting • underwriting issues relevant to industrial • identify some common issues that • cost management in an insurance commercial insurance special risks insurance complicate the settlement of a business company • describe the scope of cover provided • the key considerations in evaluating interruption claim • the management of financial capital under the business interruption sections industrial special risks insurance claims. • calculate figures required for the of office and business packs settlement of a business interruption • the business environment management in an insurance company. • outline the cover provided by liability claim. insurance.

twenty20 twentyone21 AICLA/ ANZIIF CLAIMS AUSTRALIAN INSURANCE CONVENTION INDUSTRY AWARDS

Events LOCATION NSW LOCATION Sydney MONTH August MONTH August

These events cover a range of topical subjects featuring guest speakers with years The 8th Annual AICLA/ANZIIF Claims The Australian Insurance Industry Awards of relevant industry experience. Discounted pricing for each event is offered to Convention will address key issues that unites all sectors of the insurance industry Institute members. A selection of 2014 events is listed below. insurance professionals, loss adjusters, to publicly celebrate the highest standards For further details and pricing of these and other events please visit the claims managers and risk managers will of excellence, professionalism and Institute website at www.theinstitute.com.au/events. face in 2014 and beyond. It provides an performance of individuals and organisations. unparalleled program focused on emerging Award winners across 14 categories are and current business topics, models and celebrated at this night of nights that is practices in claims management. The attended by over 800 industry leaders and convention is the leading insurance claims representatives. AICLA/ ANZIIF CLAIMS CONVENTION event in Australasia, attracting more than ~ 300 representatives from across the AWARDS— AUSTRALIAN AND NEW ZEALAND insurance sector. INSURANCE INDUSTRY AWARDS

~ GENERATION i

~ NEW ZEALAND INSURANCE GENERATION i INDUSTRY AWARDS INDUSTRY INSIGHTS

~ REGIONAL CONFERENCE— LOCATION Auckland LOCATION Australian capital cities and New Zealand AUSTRALIA AND NEW ZEALAND MONTH November MONTH Check the ANZIIF website ~ for details The New Zealand Insurance Industry Awards WOMEN SUCCEEDING IN BUSINESS unites all sectors of the insurance industry The key objective of the Generation i program to publicly celebrate the highest standards of is to engender a strong sense of community excellence, professionalism and performance in young professionals. The program achieves of individuals and organisations. this primarily through a range of regular Award winners across 14 categories are networking events that make it easy for celebrated at this night of nights that is like-minded professionals to meet and attended by over 400 industry leaders engage with people from other facets of the and representatives. insurance industry. Generation i events range from social networking to education and professional development opportunities and career building events.

twentytwo22 twentythree23 INDUSTRY INSIGHTS REGIONAL CONFERENCE ( AUSTRALIA)

LOCATION Queensland LOCATION Victoria MONTH July MONTH November

Industry Insights focuses on tackling current The Regional Conference is a one-day event and emerging business issues in the industry consisting of interactive workshops based on and how these will impact on businesses in best practices and case studies to invigorate 2014. This two-day event features an your business in general insurance. Delegates exciting program developed by industry will gather to partake in an informative industry representatives and promises to facilitate update from Australian industry leaders while high level discussions addressing the latest networking with like-minded professionals. topics and trends that matter most in the insurance industry. Professional Qualifications

Being an Institute member and holding an Institute REGIONAL CONFERENCE WOMEN SUCCEEDING qualification is the best insurance for a successful career ( NEW ZEALAND) IN BUSINESS and a solid future in the industry.

LOCATION Christchurch and Tauranga LOCATION Australian capital cities The Institute offers loss adjusting professional qualifications at Diploma level. and New Zealand This qualification is highly regarded across the industry and provide students MONTH May— check the ANZIIF website for details MONTH Check the ANZIIF website with the skills and knowledge necessary to succeed. for details Once qualified, Institute graduates automatically become Discuss the challenges facing the industry and full members of the Institute, the premier industry Networking events and luncheons promote hear from New Zealand industry specialists membership body in the Asia-Pacific. at a venue close to home. This conference is engagement and the exchange of knowledge designed to meet the needs of all regional and expertise between women across the To see the range of benefits Institute membership offers please see pg 7. insurance professionals. Delegates will gather industry in pursuit of professional excellence to partake in an informative industry update and a strong, healthy business environment. from New Zealand industry leaders while These events are a great opportunity for networking with like-minded professionals women working in insurance to be inspired, from their region. share experiences, network with like-minded professionals and, above all, celebrate career achievements.

twentyfour24 twentyfive25 DIPLOMA OF LOSS ADJUSTING

The Diploma of Loss Adjusting has been This course is suitable for employees already CORE MODULES combustions, fire spreads, common causes of developed in collaboration with the practising loss adjusting and who are ready to LA501 ignition and evidence of forced entry in a fire Australasian Institute of Chartered Loss take the next step in their careers. Introduction to loss. Also covered is commercial stock loss, the Adjusters (AICLA). AICLA is a leading Loss Adjusting insured and insurer’s rights in loss mitigation, The Diploma of Loss Adjusting includes professional body for loss adjusters in the purpose of casualty cover and the effects of comprehensive course materials developed by Covers how the loss adjusting industry has Australia, New Zealand and Asia. a casualty loss. highly-regarded loss adjusters. The Diploma evolved and the responsibilities, key skills and role of a loss adjuster, including the Successful completion of LA501, LA502, is essential for those seeking expertise and LA504 LA503 and LA504 fulfils the educational a qualification in the specialist area of claims parties they may deal with. This module will Loss Adjusting Law requirements to obtain AICLA’s Certificate in assessment. Completion provides Senior also cover general insurance and the legal and Regulation Loss Adjusting Practice. Completion of the Associate Certified Insurance Professional (CIP) knowledge a loss adjuster needs to possess, Explains why loss adjusters need to know about Diploma of Loss Adjusting is the educational membership of the Institute. The Diploma is also the key elements of a loss adjuster’s terms the law, including how to research the law, basis for Associate membership of AICLA the basis for membership advancement with the of engagement and the steps involved in the the legal system, how laws are developed and and Chartered Loss Adjuster status. For Australian Institute of Chartered Loss Adjusters loss adjusting process. interpreted, underlying legal concepts, and more information visit AICLA’s website at (AICLA). LA502 applying relevant laws, regulations, codes and www.aicla.org. Loss Adjusting Practice principles. Participants have rated the Diploma as highly relevant for those working as loss adjusters and Concentrates on the types of instructions LA505 FEES A$865 per module received by loss adjusters, the terms of Managing Operations (NZ$905, International those in the claims environment. A$595) reference and how they impact on the loss Covers the characteristics of loss adjusting Institute students who also hold membership A$250 LABF51 module adjusting assignment and the steps involved businesses, including their scope, operations (NZ$270, International with AICLA are eligible for a discount on their in planning a loss adjusting investigation. and client groups. Students will look at how the A$250) enrolment fees. This module also covers the key techniques role of the manager contributes to the effective DURATION Nine modules: Each study Australia: $A818 used when collecting and analysing evidence, period lasts 12 weeks. operational management of an organisation (Students are able to study New Zealand: $NZ854 the steps involved in validating a claim and and the purpose and characteristics of business more than one module per International: $A563 establishing quantum and recovery rights plans. This module will also cover the process study period.) and demands. of developing business plans and the key steps MEMBERSHIP For further information on AICLA membership, Senior Associate CIP involved in monitoring operational performance. OUTCOME visit www.aicla.org.au. LA503 Property and Casualty LA506 Loss Adjustment COURSE STRUCTURE Negotiating Effective To be awarded the Diploma, students must This module looks at the role of the loss Settlements complete seven core modules and two elective adjuster in relation to property claims, the Examines how negotiation applies to loss modules. It is estimated that most modules will purpose of property cover and loss, insurable adjusting, including the skills needed for require 50–70 hours of study time. interest, property policies, the cover successful negotiation, and how to analyse the provided and issues relating to property cost-benefit on settlement options. Students cover. Students will also study the reasons will also learn to document and administer for physical measurement or photographic negotiation meetings and the key options for evidence when verifying loss, the processes resolving negotiation disputes. for interviewing an insured, types of

twentysix twentyseven LABF51 at the types of liability policies available and LA511 ENROL Business Fundamental Unit the cover they provide, defences to liability Construction Loss Adjustment To enrol, visit the Institute’s website This online unit describes the role of claims, the role of the loss adjuster in the www.theinstitute.com.au/enrol or give our Investigates the cover provided by a typical good customer service in building and preparation and assessment of a claim and Customer Service team a call on (03) 9613 construction insurance policy, including maintaining the profitability of your the investigation and verification of liability 7280, (New Zealand Freecall 0800 103 675). organisation. The unit also describes how to claims. policy cover, extensions, exclusions and identify, model and meet expected industry conditions and their effect on construction LA509 professional approaches to procedures, loss. This module also covers the types Building Loss Adjustment guidelines, policies, standards and ethical of contracts that can be encountered requirements. Looks at the purpose of building insurance on a construction project and their and what constitutes a loss, insurable implications for a construction loss and In addition, this unit describes how to interest and proximate cause, the differences the loss adjustment process. Students contribute to the implementation of between the building insurance policies will also learn what is required for the strategies to control occupational health available and the types of issues in successful completion of a construction loss and safety risks. conducting a building loss adjustment. This adjustment, relevant case law and legislation module also covers the loss adjuster’s role in applicable to construction losses and the ELECTIVE MODULES building claims, the process of investigation types of enquiries that are required for a LA507 and verification of a building claim and specific construction loss situation. Business Interruption investigating a loss caused by fire. Loss Adjustment MORE INFORMATION LA510 Discusses the business interruption Theft, Money and A complete listing of all national policies available, the purpose of business Fidelity Loss Adjustment competencies covered in each of the Diploma interruption cover and the effect business Concentrates on the role of the loss adjuster modules is available on the Institute’s interruption can have on businesses. in theft, money and fidelity loss, including website at www.theinstitute.com.au/loss. Students will learn about the role of a loss the effects of each type of loss, the policies adjuster in the preparation and assessment available, their purpose, scope of cover and AICLA of business interruption claims, the claim typical claim triggers. Students will learn Successful completion of LA501, LA502, triggers to business interruption and the about the concepts of limit of liability and LA503 and LA504 fulfils the educational calculations and preparation costs needed sum insured, conditions, exclusions and requirements to obtain AICLA’s Certificate to assess a claim under an industrial extensions, settlement, investigation and in Loss Adjusting Practice. For more special risks (ISR) policy. reconciling stock loss. The module will also information, visit AICLA’s website at LA508 cover physical measurement, photographic www.aicla.org. Liability Loss Adjustment evidence and market intelligence in claims Examines the purpose of liability cover and evaluation, minimising loss through salvage, the effects of legal liability, determining contribution, recovery and restitution and circumstances of a claim, establishing common physical security considerations liability and triggering indemnity under a used to protect a risk. liability policy. This module will also look

twentyeight28 twentynine29 Recognition of Prior Learning (RPL)

If you’ve had more than THE FELLOWSHIP BY • recognised leader in their Studying with the Institute five years’ experience in MERIT PROGRAM field – usually operating the insurance industry, you The Institute’s Fellowship by at CEO, Executive may be eligible to receive Merit program recognises Management, Divisional, Delivery and Assessment a Certificate IV or Diploma people who have made Regional or State Manager based on Skills Recognition. long-lasting and significant level ANZIIF’s Skills Recognition, contributions to leadership • applicants may be which is Recognition of Prior and professional excellence specialists in their field Learning (RPL), recognises in the insurance industry. and/or owners, managers the value of the skills and Prospective candidates or consultants who have knowledge you have gained prepare and submit a portfolio practised for ten years or DISTANCE LEARNING ASSESSMENT through employment, training, detailing their work history more and have a high degree Distance learning provides Each module is assessed voluntary positions and with examples of their of skill and expertise students with the flexibility through completion of an general life experience. thought leadership, industry • be a respected member of to study where they choose assignment comprising of If you can provide evidence involvement and contribution. the insurance and financial during a study period that best a case study and an online to show that your skills and Expressions of interest in the services community who suits them. There are six study examination containing knowledge match those in program may be made to the leads by example with periods offered throughout the multiple choice, short answer a qualification, you will save Institute for consideration. integrity and commitment year, allowing students to plan and case study questions. time and money through to high standards of their study around peak work Applicants should, at a To successfully complete receipt of a qualification and professionalism. periods. A complete set minimum, fulfil the following an Institute module you membership upgrade. of learning materials is criteria: For further information are required to submit an provided for each module. To get qualified, please visit about the Fellowship by Merit assignment and sit an exam. • a minimum of 15 years These relate to students’ www.theinstitute.com.au/RPL. pathway, contact Bronwyn To pass students must receive in the insurance/finance workplace knowledge and Mills, Manager, Accreditation, at least 50 per cent in both the industry experience and include case Pathways and Consultancy. assignment and the exam. • current ANZIIF studies, self-help questions, Telephone (61 3) 9613 7200 membership, membership activities and additional or email bmills@theinstitute. having been continuous for resources where relevant. com.au. the last five years

thirty30 thirtyone31 Study Support

The true value of studying THE LATEST TUTOR PROGRAM with the Institute and LEARNING The Institute’s Tutor Program what distinguishes it from RESOURCES provides access to experienced other education providers All Institute modules and qualified insurance is the comprehensive have comprehensive professionals in a one-on-one and supportive learning printed learning resources tutoring situation to support environment provided. The that provide substantial you with your studies. Tutors Institute offers the following technical detail and include are experts in their fields and support to assist you while accompanying self-help are ready and able to provide you are studying. questions and answers. Many assistance and guidance with modules have online learning studies. STUDENT materials to use in addition SUPPORT STAFF to the printed materials, STUDENT To ensure that you get the providing an opportunity NEWSLETTERS most out of your learning for peer learning. Institute student newsletters experience, the Institute’s provide the latest information dedicated Student Support ONLINE SUPPORT on your qualification module staff are available to provide AND REFERENCES and assessment requirements, you with guidance and The Institute provides a learning and study tips and assistance while you work range of online materials upcoming workshops and towards your qualification. and services designed to conferences. support and assist you to SUBJECT MATTER learn effectively and apply FURTHER EXPERTS your knowledge and skills in INFORMATION The Institute has subject the workplace. This includes For more information on matter experts to assist online discussion forums studying with the Institute, visit students throughout their which you can use to submit www.theinstitute.com.au/ studies. Contacted via email inquiries regarding your study. through Student Support, studies and receive answers they hold a wealth of financial from an industry expert. services knowledge and The Institute’s website also respond to requests for features guidelines for writing assistance within one to assignments and preparing two business days. for exams and a glossary of financial services terminology.

thirtytwo32 thirtythree33 STREAM A 2014 Academic Calendar

PERIOD Students must enrol before the study period commences to ensure access 1 to study materials. Our Accelerated Courses and Bridging Modules run approximately every two weeks. For more information about enrolling, please visit the Institute’s website www.theinstitute.com.au/course_delivery. STREAM 28/ 01 Study Period Commences JANUARY B 2014 PERIOD 25/ 02 Enrolment FEBRUARY Change Cut-Off 1

STREAM 06/ 03 Study Period MARCH 11/ 03 Assignment Due Commences A 03/ 04 Assignment Results 08/ 04 Enrolment PERIOD 10/ 04 Exam Change Cut-Off 2 APRIL 29/ 04 Results 22/ 04 Assignment Due

15/ 05 Assignment STREAM Results 01/ 05 Study Period MAY 22/ 05 Exam Commences B PERIOD STREAM 17/ 06 Enrolment 2 JUNE 10/ 06 Results Change Cut-Off A 01/ 07 Assignment Due PERIOD 24/ 07 Assignment Results 10/ 07 Study Period JULY 31/ 07 Exam Commences 3

19/ 08 Enrolment 21/ 08 Study Period AUGUST 19/ 08 Results Change Cut-Off Commences

STREAM SEPTEMBER 02/ 09 Assignment Due B 02/ 10 Assignment Results 07/ 10 Enrolment PERIOD 09/ 10 Exam Change Cut-Off OCTOBER 28/ 10 Results 21/ 10 Assignment Due 3

13/ 11 Assignment Results 13/ 11 Study Period NOVEMBER 20/ 11 Exam Commences

DECEMBER 09/ 12 Results 2015

08/ 01 Enrolment Change Cut-Off JANUARY 15/ 01 Assignment Due

05/ 02 Assignment Results FEBRUARY 12/ 02 Exam

MARCH 03/ 03 Results 34 35 100% Recycled Paper

36