Course Title: Administer insurance for strata communities

Part A: Course Overview

Program: C4394 Certificate IV in Strata Community Management

Course Title: Administer insurance for strata communities

Portfolio: SEH Portfolio Office

Nominal Hours: 25

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Flexible Terms

Course Code

Campus

Career

School

Learning Mode

Teaching Period(s)

BUSM8763C

City Campus

TAFE

174T School of VE Engineering, Health & Science

Internet

VE 2017 (SCM1)

Course Contact: Mimma Luppino

Course Contact Phone: +61 3 9925 4979

Course Contact Email: mimma.luppino@rmit.edu.au



Course Description

This unit of competency specifies the outcomes required to administer insurance for strata communities in line with strata community instructions. It requires the ability to identify the community’s insurance requirements, place the suitable insurance, assist with lodging insurance claims, and review insurance arrangements.

The unit supports the work of those involved in administering insurance for strata communities. It applies to strata managers.

Licensing, legislative, regulatory or certification requirements apply to this unit in some States and Territories. Relevant state and territory regulatory authorities should be consulted to confirm those requirements.

Pre-requisite Courses and Assumed Knowledge and Capabilities

NIL



National Competency Codes and Titles

National Element Code & Title:

CPPDSM4084 Administer insurance for strata communities

Elements:

1. Establish legislative requirement for insurance.

2. Clarify insurance requirements for strata community

3. Arrange valuation of asset for insurance purposes

4. Place insurance

5. Assist with lodging insurance claim

6. Review insurance arrangements.


Learning Outcomes

On completion of this, course you should be able to:
1. Establish legislative requirement for insurance.
   1.1 Research and access legislative requirements for insurance for each strata community.
   1.2 Organisational requirements for arranging insurance for individual strata community are identified.
2. Clarify insurance requirements for strata community.
   2.1 Legislative insurance requirements for strata community are communicated to strata community.
   2.2 Information on optional insurance cover is provided to strata community.
   2.3 Relationships with insurers and insurance brokers are disclosed to strata community.
   2.4 Information on extent of insurance cover is communicated to individual lot owners.
   2.5 Situations requiring specialist advice are identified and assistance is sought as required.
   2.6 Authority to obtain quotations from insurers or insurance brokers for strata community is obtained from owners committee.
   2.7 Insurance proposal documentation is completed.
3. Arrange valuation of asset for insurance purposes.
   3.1 Source documents are obtained.
   3.2 Information on assets to be insured is gathered.
   3.3 Valuation specialist is engaged to advise on value of asset.
   3.4 Valuation is recorded and associated documentation, including statement of limitations in determining value of asset, is stored for ease of retrieval.
   3.5 Information on value of asset is provided to strata community and as required to insurer.
4. Place insurance.
   4.1 Suitable insurers or insurance brokers are identified and quotations and product information are obtained in line with instructions from strata community.
   4.2 Insurance quotations are reviewed to ensure accuracy and compliance with strata community, legislative and organisational requirements.
   4.3 Insurance quotations and associated documentation are communicated to the strata community.
   4.4 Adequate insurance policies and cover are acquired in line with instructions from the strata community.
   4.5 Certificates of currency for insurance policies for strata community are maintained and stored securely.
   4.6 Potential risks are monitored and communicated to strata community and strata community’s insurer.
5. Assist with lodging insurance claim.
   5.1 Assistance is provided to strata community to make insurance claim.
   5.2 Documentation to support insurance claim is lodged with insurer or insurance broker.
   5.3 Roles and responsibilities of insurance assessors are recognised.
   5.4 Insurance claim records and relevant information are securely stored.
6. Review insurance arrangements.
   6.1 Insurance arrangements are monitored and reviewed regularly in consultation with strata community to ensure compliance with legislative and strata community’s requirements.
Business equipment and technology are used to maintain and securely store insurance documentation.


Overview of Assessment

Assessment may include but not limited to a variety of methods including written short answers, assignments, online quizzes, interactive tasks and multiple choice questions. You will be asked to demonstrate to your teacher/assessor the skills gained during this course to the relevant industry standards. Assessment activities will occur throughout this course and feedback will be provided at regular intervals.