| 1 | Understand the roles and responsibilities of the various parties within the insurance industry related to the work carried out | 1.1 | Define the various parties in the structure of the insurance market related to the work carried out |
| 1.2 | Describe the roles and responsibilities of the parties identified |
| 2 | Understand the details of general insurance policies | 2.1 | Explain relevant policy cover, terms and conditions related to the work carried out including: - Standard extensions and/or limitations
- Non-standard extensions and/or limitations
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| 3 | Understand processes for working with other intermediaries | 3.1 | Outline possible sources of advice and information available at work |
| 3.2 | Outline organisational customer service standards and procedures |
| 3.3 | Outline organisational policies for dealing with complaints |
| 3.4 | Outline the information and material facts that should be supplied by other intermediaries when advising them on or placing business on their behalf |
| 3.5 | Describe organisational procedures for recording recommendations made to other intermediaries |
| 3.6 | Outline the organisation’s procedures for contact with insurers |
| 4 | Be able to evaluate a risk to be placed on behalf of a retail intermediary | 4.1 | Obtain from the retail intermediary all information and relevant documentation required to assess their needs and those of their clients |
| 4.2 | Investigate the circumstances and nature of the risk further when appropriate |
| 4.3 | Analyse and evaluate the information and material facts regarding the risk |
| 4.4 | Formulate advice to be given which provides the best market situation for the retail intermediary, given the nature of the request and the employer’s policies, procedures and status |
| 4.5 | Communicate the outcome with the retail intermediary in a professional and understanding manner and in a style appropriate to their needs and the relationship |
| 5 | Be able to advise retail intermediaries regarding risks to be placed on their behalf | 5.1 | Give advice to the retail intermediary in accordance with agreements to place business on their behalf and in a way that protects the relationship |
| 5.2 | Explain recommendations to the retail intermediary fully and clearly, encouraging the intermediary to ask questions and seek clarification |
| 5.3 | Confirm the retail intermediary understands the advice given |
| 5.4 | Agree with the retail intermediary the course of action to be taken |
| 5.5 | Confirm the advice given in accordance with the organisation’s procedures |
| 5.6 | Make sure information and documentation regarding business with retail intermediaries and risks are stored safely and made available only to those who need them and have a right to them |
| 5.7 | Maintain accurate and complete records within the other intermediary’s and business files |
| 6 | Understand the requirements of all codes, laws and regulatory requirements | 6.1 | Explain the policies and procedures which apply to own job role to include: - Legal requirements
- Professional codes
- Industry regulations
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| 6.2 | Summarise the relevant insurance and legal principles and regulations relevant to the work carried out |
| 6.3 | Describe the action required when an activity falls outside of personal authority |
| 7 | Be able to comply with all codes, laws and regulatory requirements | 7.1 | Comply with legal requirements, professional codes, industry regulations and organisational policies |
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