Class 2: Short-Term Commercial Lines

R575.00

Category:

Description

COURSE DESCRIPTION

  • Learners have access to their course material for 180 days from date of enrolment , thus are able to complete their study preperation at their lesure. (Self-Paced) 
  • Online assessment (2 multiple choice exam attempts included.)

NQF Level 3 courses

NQF levels are intended to award registered learners with national accreditation based on their skills and knowledge. NQF 3 is equivalent to Grade 11 or Standard 9, and is often a stepping stone to NQF 4 and beyond.

NQF Level 4 courses

NQF levels are intended to award registered learners with national accreditation based on their skills and knowledge. NQF 4 is equivalent to Grade 12 or Standard 10 (Matric), and is a FET – Further Education and Training – category qualification.

NQF Level 5 courses

NQF levels are intended to award registered learners with national accreditation based on their skills and knowledge. NQF 5 is a National Certificate or National Diploma and is a HET – Higher Education and Training – category qualification

NQF Level 6 courses

NQF levels are intended to award registered learners with national accreditation based on their skills and knowledge. NQF 6 is a Bachelors Degree or Higher Diplomaand is a HET – Higher Education and Training – category qualification.

COURSE CONTENTS

Subclass 2.1 – Accident and Health Policy

  • Describe personal accident insurance;
  • Provide the definition of an accident;
  • Provide the description of personal accident cover;
  • Explain all risks;
  • Describe personal accident policy excesses and exclusions;
  • Describe health insurance;
  • Explain the hospital cash benefit sum insured and premium.

Subclass 2.2 – Engineering Policy

  • Explain and discuss engineering insurance;
  • Explain and discuss defining engineering insurance;
  • Explain and discuss contractors all risks (CAR) and erection all risks (EAR) insurance;
  • Explain and discuss public liability insurance;
  • Explain and discuss engineering project insurance cover (EPIC);
  • Explain and discuss plant all risks insurance;
  • Explain and discuss electronic equipment insurance;
  • Explain and discuss machinery breakdown insurance;
  • Explain and discuss the deterioration of stock insurance (DOS);
  • Explain and discuss business interruption insurance.

Subclass 2.3Guarantee Policy

  • Describe and discuss what trade and construction guarantees insurance offers;
  • Describe and discuss what fidelity guarantee insurance is?
  • Describe and discuss the types of fidelity guarantees;
  • Describe and discuss the fidelity guarantee insurance claim procedure;
  • Describe and discuss common misconceptions about the insurance;
  • Describe and discuss how trade credit insurance works;
  • Describe and discuss four main benefits of credit insurance;
  • Describe and discuss how to manage all your trade credit risk with guarantee Insurance.

Subclass 2.4 – Liability Policy

  • Describe personal liability insurance
  • Explain personal liability
  • Explain personal liability ‘limit of indemnity’
  • Explain employer’s liability
  • Explain public liability
  • Explain product liability
  • Explain professional indemnity
  • Explain the application of reinsurance to liability risks
  • Explain personal liability excesses and exclusions

Subclass 2.5Miscellaneous Policy

  • Explain and describe aviation insurance;
  • Explain and describe employee’s insurance;
  • Explain and describe goods in transit insurance;
  • Explain and describe engineering insurance;
  • Explain and describe marine insurance;
  • Explain and describe travel insurance;
  • Explain and describe agriculture insurance;
  • Explain and describe householders or household contents insurance.

Subclass 2.6.1Motor Policy

  • Circumstances under which a vehicle is classified as personal are identified with examples.
  • Circumstances under which a vehicle is classified as commercial are identified with examples.
  • Personal and commercial use of a vehicle is compared with reference to risk and premium.

Subclass 2.6.2Investigate the classes/types of vehicle that are insured under a business motor policy

  • Different vehicles are classified according to the Road Ordinance and the licence required for driving each vehicle. 
  • The risk associated with each class of vehicle is explained with examples.
  • Conditions under which a higher category of driver’s license or permit is required for a selected vehicle are explained with reference to the consequences of non-compliance.

Subclass 2.6.3 – Apply different bases of quoting to a business motor policy

  • The concept of the agreed value of a vehicle is explained and an indication is given of the evidence required to agree on a value.
  • Different bases for quoting on a business motor policy are explained with reference to the needs of the business and a specific insurer. 
  • Methods of determining cover and premium are explained for a specific insurer. 

Subclass 2.6.4 – Analyse the cover under a business motor policy

  • A policy wording and schedule are analysed to determine the terms and conditions.
  • The exclusions and extensions in a policy are analysed and explained with reference to the benefit to the client and the specific industry.
  • The liability coverage in a business motor policy is explained with reference to the cover under the policy and requirements of the Road Accident Fund, COIDA and OHSA

Subclass 2.7 – Property Policy

  • Explain and describe property insurance;
  • Explain and describe fire insurance;
  • Explain and describe additional perils;
  • Explain and describe theft cover;
  • Explain and describe contractors all risk (CAR);
  • Explain and describe engineering insurance;
  • Explain and describe the application of reinsurance to property risks;
  • Explain and describe homeowners or buildings insurance;
  • Explain and describe determining the homeowner’s insurance premium.

Subclass 2.8Transportation Policy

  • Explain and discuss goods in transit insurance;
  • Explain and discuss what the insurer needs to know;
  • Explain and discuss goods in transit policy excesses and exclusions;
  • Explain and discuss regulation driving demand for goods in transit cover.

Subclass 2.9Short-Term Reinsurance Policy

  • Explain and describe reinsurance;
  • Explain and describe reinsurers;
  • Explain and describe legal principles;
  • Explain and describe insurable interest;
  • Explain and describe global reinsurers;
  • Explain and describe local versus offshore reinsurance;
  • Explain and describe the two basic methods of reinsurance;
  • Explain and describe reinsurance commission;
  • Explain and describe loss participation;
  • Explain and describe proportional reinsurance;
  • Explain and describe working excess of loss.

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