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Diploma Full Qualification

PIQDIPFQ
Price:
$4,169.00 +GST Non-member
$3,821.00 +GST Learning Partner
$3,474.00 +GST IBANZ Member
Enrolment required                              Enrolment InfoDistance Learning

This option includes the following Modules

Core Module

The following modules forms the basic introduction to the PI diploma. If they are included in the Broking practice certificate, and not required to be repeated if the student is already competent.

The following modules for the basic introduction to the PIQ diploma. If they are included in the Broking Practice certificate, and not required to be repeated if the student is already competent.

Topics are centered around professionalism, and ethics as well as reminding the student of the advice process and principles of risk management that should be central to the broking process.

Allow 30 days for completion of each online short course, and attendance to the workshops when available. Assessment is available on your learning dashboard, by way of brief online quiz or short written answers.


Broking Practice 

This set of courses are compulsory broking practice courses. They expand on the basic principles of insurance with some additional topics relevant to the insurance and broking processes.

Allow 30 days for completion of each online short course, and attendance to the workshops when available. Assessment is available on your learning dashboard, by way of brief online quiz or short written answers.


Product Knowledge

The following courses are compulsory commercial product knowledge components, including in depth business interruption series, and some additional liability subjects. If these courses have been completed previously they are not required to be repeated.

Allow 30 days for completion of each online short course, and attendance to the workshops when available. Assessment is available on your learning dashboard, by way of brief online quiz or short written answers.


Elective Modules

Designed to give competent brokers a choice about what they study, based on where their interests lie. Choose any 9 from the Management Module list or the Business cover list, or mix and match to suit your requirements.

Allow 30 days for completion of each online short course, and attendance to the workshops when available. Assessment is available on your learning dashboard, by way of brief online quiz or short written answers.


Learning Units Included

Ethics - Workshop

PIQW4

Gain a clear understanding of some of the ethical challenges in the insurance/financial advisers industry.  

Privacy, Ethics & Disclosure.  What do they have in common?

Learn how to behave ethically within the regulatory framework.

 

Objectives
  • What is conflict
  • Understand why disclosure is important
  • What should be in disclosure statements
  • Understand professional conduct codes


The Professional and Effective Broker - Workshop

PIQW5

This workshop follows the behaving ethically workshop. It is the second in a series of three workshops.

Learn about how to improve your skills as a broker

Suitable as a refresher or for those with under 4 years as a broker.

 
Objectives
  • Apply professional standards to your every day work.
  • Ensure your client gets the best possible service from you
  • Buy and place insurance effectively


The Advice Process for Brokers

TSC13

Brokers like any other financial adviser collect information on their clients to enable you to provide them the best solution. Doing this in a systematic manner improves your efficiency and effectiveness as a broker.
This internationally recognised process includes: 

  • gathering relevant financial information,
  • determining a client’s goals,
  • examining their current financial status and
  • creating a strategy, or plan, to assist them in achieving their objectives.
Objectives
  • Considerations when developing your recommendations, How to present your recommendations professionally
  • Build rapport and relate to clients
  • Why do i need a disclosure statement?
  • What information should i be collecting, and how do I analysis it?


Principles of Risk Management - Workshop

PIQW1

The perfect workshop for anyone who is new to the life/risk insurance advice industry or for mortgage, general insurance or investment advisers who wish to add risk insurance to their service offering. It covers both the theory and practice of risk insurance.

 

Objectives
  • Learn about the basics of risk
  • Application, underwriting and Implementation of risk
  • Financial positions and goals,
  • Client suitability, needs and hazards


Regulations for Financial Services

PIQ2

For many years the financial services markets in New Zealand operated under superficial regulation—that all changed in 2008.

In 2008, new legislation was introduced in an effort to provide more transparency and confidence in the New Zealand Financial services market.  It meant, in effect, that all financial advisers in New Zealand had to be registered, or come under a registered body. An overarching statement relating to these regulations reads:

"All financial advisers must be able to demonstrate they have the appropriate knowledge, skills and competency to give financial advice."
 
Regulation is a necessary evil in today’s society and it is imperative that you have a working understanding of the regulations and legislation that affect the work of a broker or financial adviser.  By showing you understand the regulatory side of your work you will begin to build trust and confidence with your clients.  You will come to understand the importance of Professional Indemnity Insurance and what is negligence in this regulated environment. 

 

Objectives
  • What is a QFE, an AFA & RFA?
  • Who can do what?
  • Gain a working understanding of common legislation and Regulations, including: Financial Adviser Act 2008 Financial Advisers (Disclosure )Regulations 2010 The Privacy Act 1993 Fair Trading Act 1986 Consumer Guarantees Act 1993 Anti-Money Laundering and Countering Financing of Terrorism Act 2009 Codes of Practice


The Law and Insurance

TSC5
The laws of any nation impact on the businesses that operate, and the individuals that live, within those nations. The Law and Insurance course aims to provide those working within the insurance industry an understanding of some of the basics of New Zealand law and how it impacts on the insurance business in New Zealand.

Recognising that the insurance industry is governed by statutes and regulations, IBANZs The Law and Insurance module is applicable to all Insurance Representatives and support staff.

There are four modules that make up the Law and Business portion of the IBANZ Technical Course.

 

Objectives
  • The court system in New Zealand
  • The differences between ‘negligence’ and ‘liability
  • Common law, statutory law and contract law,and the law of agency
  • By working through the material you will be able to demonstrate an understan ding of The source of law in New Zealand


Business Risk Analysis - Workshop

PIQW13

To reach a destination or achieve a goal you must have a plan and/or a map of how you are going to get there.

Imagine if you were travelling in a foreign country and wanted to get from town A to town B.  If you didn’t have a plan including such things as a time frame, the type of vehicle etc and a map (whether the old fashioned type or a GPS) it would be extremely hard to efficiently and effectively get from one place to another.

Most of us set goals in our personal and business lives.  However, whilst we often take action to ensure we reach a goal in our personal lives what we often fail to do  in our business lives is to look at the risks that may prevent us reaching those goals.

Take for example when we travel overseas.  We have travel insurance, an itinerary, maps, guides, travel cards and even vaccinations to minimise the risk of not having a good time.  Yet how many businesses have a plan to ensure your clients’ data is never lost or how you would run your business if there was a complete IT failure for some days?

Almost all of the things that we do at work involve risk of some kind, but it can sometimes be challenging to identify risk, let alone to prepare for it.

It includes a session on working on your own actual risks and ways to analyse them and minimise their impact.  In addition Trevor will explain how this model can easily be adapted to a tool that can be used to analyse your customer’s risk exposure.

Objectives
  • Learn effective ways to control risk
  • Learn how to identify and analyse Risk
  • Understand the purpose of risk analysis


Risk Management and Underwriting

PIQ9

Simply put, risk management is a two-step process - determining what risks exist in a given situation, ie a business, then handling those risks in a way best-suited to achieve the desired objectives.


Many organisations are subject to many risks in the course if their operations.

Those risk vary greatly from organisation to organisation, however there are a number of principles and approaches that are common to all of those organisations that help it identify, analysis manage and deal with risk.

In all cases the organisations that practise risk management techniques are looking to protect their ability to produce a desired outcome, or minimize the impact of a negative happening on its reputation, production outputs, or profitability.
 

Ultimately, it is all about assessing and managing risk.

It is this risk assessment and management that we examine in this Professional IQ College short course.

 

Objectives
  • Understand how to deal with risks
  • Understand Risk - what is it?
  • How does risk managment relate to insurance?
  • Learn the steps involved in risk management


Re-Insurance - Workshop

PIQW14

The course will give you an appreciation of the nature and application of reinsurance and it’s influence on the primary insurer and, therefore, both capacity and underwriting in the local market.


Part 1: Why should you care about reinsurance? 

  • What is it anyway? 
  • Why do you need to know about it? 
  • How does it influence what you do? 
  • How does it affect the local market?
  • How is it relevant to my client? 

Part 2: What you should know about reinsurance

  • Is reinsurance just one thing? 
  • How does it work? 

Part 3: Some real examples 

  • Lessons learned 
  • Who benefits and why? 
  • Questions? 

Part 4: Recap 

Part 5: Any questions?

This is a course for: brokers, trainee brokers and assistant brokers and anyone (and everyone) dealing with insurers and placements in particular. 

 

Objectives
  • Understand and discuss the relevance of Reinsurance with clients
  • Understand real world examples
  • Discuss how re insurance works


The Renewal Process

PIQ13

This course will ensure you can spot the triggers that signal the review of an existing insurance programme for a client.

It will also provide tips and tools for handling the renewal process.

You will become familiar with the obligations of the parties involved in the review process at renewal time, and understanding the important steps in confirming covers with insurer, and documenting the process.

 

Objectives
  • Learn about tips to determine a renewal strategy
  • Discuss triggers that indicate policy change
  • Understand the insurance renewal process


Claims Principles

PIQ4

It is easy, when working with insurance products, to focus solely on the marketing and selling of those products.  A broker needs to remember that his/her role extends beyond the moment when a signature is placed on the bottom of a contract.

It extends to:

  • Following up on clients
  • The continual assessment of their client’s needs, and
  • To helping the client through the claim process if and when that time arises.

The Claims Principles Online Course will take you through the four stages:

  • Notifying the insurer
  • Insurer confirms facts 
  • Insurer makes a decision, and
  • Insurer settles claim.
Objectives
  • Your legal obligations
  • To understand the four stages of the claims process
  • Your role in the claims


Business Interruption - 6 Workshops

PIQW18

This learning module consists of a series of 6 one hour workshops that look at the components of a business interruption policy in detail.

These interactive workshops will help you relate with the needs of your clients using real world case studies. They will provide you with an understanding of how the needs of clients relate to the arts of the policies and what impact clients actions can have at claims time.

The series will include:

  • Policy fundamentals
  • Gross profit - Key terms calculation methods and examples
  • Insuring Payroll and wages
  • Increased costs vs Additional Increased costs
  • Claims costs
  • Loss of rents
  • Adjustments
  • Other extensions and clauses
  • Claims procedures, preparation and process 


Contract Works - Residential & Small Commercial- Workshop

PIQW2

This course covers both the theory and practice of Contract Works Insurance and provides a broad but detailed overview of the industry and its component parts, players and products.

You will gain a good grounding in how to understand and provide Contract Works Insurance related financial adviser services to clients, and how to select the appropriate Contract Works Insurance products based on the needs of a particular contract.

Part 1: The Contract Works Policy

  • Scope of cover
  • Sublimits
  • Extensions
  • Exclusions
  • Commencement of cover
  • Termination of cover

Part 2: The Contract and the Insured Parties

  •  Who is insured, when and why

Part 3: Sums Insured and Post-Loss Allowances 

  • What does the policy require
  • Contractual requirements

Part 4: Other Covers

  • Principal Supplied Materials

This is a course for: brokers, trainee brokers and assistant brokers, or anyone (and everyone) with an interest in small contract works.

 

Objectives
  • Who is insured, when and why
  • The Contract Works Policy -Scope of cover, Sublimits, Extensions, Exclusions, Commencement of cover, Termination of cover.
  • Understand other covers - Principal Supplied Materials, storage and transit
  • What does the policy require contractually


Contract Works Advanced - Workshop

PIQW15

Contracts works is not an off the shelf product. This workshop will increase your confidence in building cover for  medium to large complex projects. Presented by experienced contract works specialist this is a must for anyone who has clients who manage medium to large construction projects.

Using a case study you will learn about:

  •     how to insure risks associated with the construction contract;
  •     how to protect the builder against some contractual obligations.
  •     How to meet contractor needs
  •     Who should be named in the insurance
  •     What is insured
  •     Who is insured
  •     Storage and transit risk
Objectives
  • Discuss aspects of effective contract works cover with an insurer
  • Discuss aspects of contract works risks with clients


Material Damage - Workshop

PIQW16

 

From the Insuring clauses to the policy extensions, special provisions, terms conditions and exclusions the session will cover all aspects of a Material Damage wording, its benefits and how the coverage is best applied to your client’s needs.

The session will highlight the likes of;

  • The definition of Accidental Damage
  • Major policy extensions which enhance coverage
  • Excess applications
  • Natural Disaster provisions
  • Those exclusions which are not widely understood
  • Settlement options and limitations
  • Material facts/disclosure requirements

The target audience is younger brokers who are entering the “commercial sphere” and are maybe account assistants or handling SME accounts in their own right. 

 

Objectives
  • Discuss policy limitations with clients


Mobile Plant and Machinery

PIQ12

Like many insurance policies, Mobile Plant Machinery Insurance may come in differing forms and with differing names depending on the insurance provider.  Some companies call this Contractors Plant and Machinery Insurance, or simply Mobile Plant Insurance.

Make sure your contracting clients have the right cover, and the correct structure in place to correctly in sure their critical mobile plant and equipment. 

 

Objectives
  • Understand the core cover for mobile palnt and equipment polocies
  • Discuss common policy extensions and exclusions
  • Understand common underwriting considerations
  • Discuss typical policy conditions


Commercial Motor Insurance

TSC2

The Commercial Motor Vehicle (CMV) Insurance module will enable students to:

  • Evaluate CMV insurance policy wordings
  • Discuss CMV Insurance with clients, and
  • Recommend coverage suitable for specific client needs.

The course material includes an in-depth look at the structure and workings of a CMV insurance policy including:

  • Policy schedules
  • Extensions, exclusions and conditions
  • Settling a claim, and
  • Premium options

 

Objectives
  • Gain an understanding of the structure of a commercial motor vehicle policy
  • Learn how to identify commercial motor vehicle policy needs and make recommendations


Professional Indemnity

TSL5

Sometimes known as Professional Risk Liability Insurance, Professional Indemnity (PI) Insurance is offered to protect business people who receive payment for providing advice or performing a service against a claim made by someone who feels that business person has not lived up to their professional obligations.  

The aim of the Professional Indemnity Module is to enable students to discuss this type of insurance with clients and to confidently recommend coverage suitable for those clients.

This module includes the following topics:

  • Overview of professional indemnity insurance,
  • Coverage and limitations of a professional indemnity 
  • Insurance contract,
  • Policy exclusions, conditions and exclusions,
  • Meeting clients’ needs, and
  •  Professional indemnity claim examples.

 

Objectives
  • Recommend appropriate professional indemnity cover to clients
  • Discuss prudent measures to reduce professional indemnity risk.


General Liability

TSL6

General Liability is an important cover for most businesses because it covers them against risks relating to their general business operation.

The aim of the General Liability module is to enable students to be able to discuss this type of insurance with clients and to confidently recommend coverage suitable for those clients. IBANZ's General Liability module will refresh the experienced, and instruct the newcomer, about this aspect of liability insurance.

This module includes the following topics:

  • The different types of general liability insurance
  • Indemnity clause and relevant definitions of words and terms
  • Standard policy exclusions
  • Policy conditions that are relevant to liability insurance
  • Common optional extensions and memoranda that may be available or be applied, and
  • Common automatic coverage extensions.

 

Objectives
  • Learn aspects of the General liability cover
  • Be able to make recommendations about liability covers to clients based on their needs.


Directors and Officers

TSL2

Directors' and Officers' Liability Insurance and Company Reimbursement Insurance is offered to the directors and senior management of companies who are looking for protection from the costs incurred in defending themselves or their company against legal actions and settlements, including claimant costs awarded against directors and officers that arise out of wrongful acts in the management of the company.

IBANZ College's Directors' and Officers' module is designed for insurance brokers who are looking to move into a corporate or commercial insurance role that involves the insuring of company representatives for legal action and settlements against themselves and/or their company; or for insurance representatives who want a refresher course in this area of insurance.

This module covers the following topics:

Overview of Directors' and Officers' Liability Insurance 

  • Insured parties 
  • Basis of cover 
  • Insuring clauses 
  • Policy schedule 
  • Exclusions 
  • Policy conditions 
  • Developments 
  • Case studies 
Objectives
  • Be able to discuss the implications of a directors actions and activities on cover.
  • Understand the parts of a Directors and Officers Policy wording


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