RG146 Insurance

FAQs

Which RG146 should i do? (RG146 General Insurance or RG146 Insurance Broking)

Tier 1 RG146 Insurance Broking includes all the content covered in Tier 1 RG146 General Insurance PLUS extra content and competencies specific to being a broker.

What courses do I need to do if I want to run my own insurance broking business and eventually have staff working under me?

Building on any RG146 compliance you have attained, there are several insurance qualifications you can study, ranging from diplomas of financial services, general insurance and insurance broking to university degrees.

With respect to how your business might operate, there are a couple of options. You can arrange to become a Corporate Authorised Representative under an Australian Financial Services (AFS) licensee authorised to provide insurance and/or insurance broking services. Alternatively, you can apply for your own AFS licence (see RG 1 for guidance). ASIC’s regulatory guidance provides details on how they assess applications for AFS licences, including minimum knowledge and experience requirements for licensees and responsible managers.

We also maintain a list of compliance consultants we can refer you to.

I am already working with an Insurance company and I was thinking to upskill myself. What are my options?

If you are providing advice in only Tier 2 insurance products, you can upgrade to Tier 1 compliance. You can also consider one of the several insurance-oriented qualifications available, ranging from diplomas of financial services, general insurance and insurance broking to university degrees.

Is FEP’s Tier 1 General Insurance Personal Advice course up to date and fully approved so that I will be allowed to work with it? Just wanted to make sure that it’s the latest thing to meet the standards.

Yes, FEP’s specialist knowledge programs are updated at least annually, and more frequently when there are substantial regulatory changes and industry developments. We are a Registered Training Organisation and an ASIC Authorised Assessor, so you can be assured that FEP’s programs comply with ASIC’s requirements.

Our General Insurance courses are nationally recognised training that will allow you to work for a company that provides personal advice in and sells insurance to retail clients.

National Recognised Training means you will be awarded units of competency; these will be familiar to employers nationally and will mean that you won’t have to complete them again if they are included in any qualifications you wish to study.

You’re welcome to contact us via admin@financialeducation.com.au so we can assess your eligibility and confirm what you need to study before enrolling. Just attach any relevant academic transcripts – showing completed subjects and units of competency attained – with your enquiry.