Tier 1 General Insurance

RG146 Tier 1 General Insurance

Our online course describes the knowledge and skills required to analyse client needs and to deal ethically and professionally in Tier 1 regulated general, personal and business insurance products. It addresses the training requirements of current Australian Securities and Investments Commission (ASIC) and Australian financial services (AFS) licensing at Tier 1 level.

To be compliant to provide general advice in Tier 1 General Insurance, you must also successfully complete Generic Knowledge. To provide general advice you must be authorised under an AFSL.

About our course

Insurance is a form of risk management that allows individuals, businesses and other entities to protect themselves against ‘significant’ potential losses and financial hardship at a reasonably affordable cost.

Tier 1 General Insurance is designed for individuals who require ASIC RG146 compliance to provide general advice on regulated Tier 1 general insurance products. Our course introduces insurance products, including personal, sickness and accident insurance, and the types available in Australia. Learn how how insurance is regulated, fundamental insurance concepts and current trends in insurance product innovation. As well as specialist industry knowledge, our course offers tips for engaging with clients – whether they are enquiring over the phone or in person.

RG146 Tier 1 General Insurance can be studied as a short industry course under Responsible Manager Nomination Option 3, if this learning is specifically relevant to the sector or products the responsible manager’s role relates to (RG 105.69).

Our Tier 1 Compliance Courses are also an effective learning solution for financial services workplaces looking to ensure a desired level of base knowledge across selected teams or the wider organisation.

Entry Requirements

  • Our Tier 1 Compliance Courses are delivered online with a self-paced structure, enabling you to start at any time.
  • Computing Specifications: Refer to our Minimum technical requirements.
  • Have suitable language, literacy and numeracy skills to undertake the training.

Authorisation is the responsibility of your Australian Financial Services Licensee.

Program Content

  • Topic 1: Introduction to insurance markets
  • Topic 2: Specialist general insurance knowledge
  • Topic 3: Personal sickness and accident insurance
  • Topic 4: Providing insurance product information

Learning Outcomes

  • Describe the characteristics of and participants in Australia’s insurance markets
  • Discuss the purpose, features, benefits and costs of commonly used consumer and business insurance products
  • Explain how the insurance sector is regulated in Australia, including disclosure and the conduct of insurers and advice representatives
  • Demonstrate how to effectively risk assess and recommend appropriate insurance products to clients.

What you will learn

Who is this course for?

  • Representatives who require RG146 compliance to provide general advice on regulated General Insurance products (when completed with Generic Knowledge)
  • Representatives who advise wholesale clients or organisations seeking product-specific team training
  • Refresher training and/or CPD for existing insurance representatives
  • Participants seeking to extend their advisory range to include General Insurance
  • Participants needing to complete a relevant short industry course under Responsible Manager Nomination Option 3

Units of Competency

Pre-requisite

Recognition of Prior Learning

Certification

On successful completion of Tier 1 General Insurance participants will be awarded with a Certificate of Completion.

On successful completion of Generic Knowledge and Tier 1 General Insurance, you will be awarded a Certificate of Attainment confirming that you are RG 146 compliant to provide general advice in Tier 1 General Insurance.

This accredits you to give:

  • General advice to retail clients
  • General or personal advice to wholesale clients.

Note: To provide general advice you must be authorised under an AFSL.

Explore our RG146 Courses

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Frequently Asked Questions

We offer an online, modular approach, allowing you to study and complete one RG146 Tier 1 specialist knowledge area at a time. Our Tier 1 RG146 compliance programs:
  • Delivery: are online – self paced
  • Study time: depends on your current knowledge and experience however we estimate 10-20 hours of study.
  • Duration: up to 16 weeks - however experienced professionals can complete in less time.
To assist AFS Licensees, we follow the syllabus prescribed by the Australian Securities and Investments Commission (ASIC) for each Tier 1 and Tier 2 specialist knowledge area. To meet relevant training standards at the Tier 1 level, you must complete both Generic Knowledge and the specialist knowledge area you intend to provide general advice in. To provide general advice you must be authorised under an AFSL.

Under their Australian financial services licensing obligations, some firms are required to meet additional standards if any representatives give advice to retail clients (RG146). To assist AFS Licensees, we follow the syllabus prescribed by the Australian Securities and Investments Commission (ASIC) for each Tier 1 and Tier 2 specialist knowledge area.

To get started, either
  • Purchase your course online. (If checking out for your team, you can add multiple courses to the cart.) OR
  • Contact Us to arrange an invoice
Please note: Online orders may take up to 1 business day to be processed and for you to receive your course login details.  

To get started, either:
  • Purchase course/s online. (You can add multiple courses to the cart.) Please note: Online orders may take up to 1 business day to be processed and for your team to receive their course login details.
OR
Contact us for your Corporate Solution.
What is RG206?2023-04-21T07:53:53+10:00

Regulatory Guide 206 Credit licensing: Competence and training (RG 206)

Credit licensees must comply with the organisational competence obligation in s47(1)(f) of the National Consumer Credit protection Act 2009 (National Credit Act). Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out the minimum expectations for demonstrating organisational competence.

What you need to do to comply will depend on the nature, scale and complexity of your business. However, Regulatory Guide 206 Credit licensing: Competence and training (RG 206) sets out our minimum expectations for demonstrating organisational competence.

You must also ensure that your representatives are adequately trained and competent to engage in the credit activities authorised by your licence: s47(1)(g).

ASIC generally expects you to determine what is appropriate initial and ongoing training for your representatives and to embed this in your recruitment and training systems.

Updated annually, our CPD is designed to enable Responsible Managers and Representatives of Australian Credit Licensees to meet their mandatory RG206 continuing training requirement. Our CPD that is structured, properly assessed and recorded.

Financial Education Professionals acknowledges the Traditional Owners of Country throughout Australia. We pay our respects to Elders past, present and emerging.