Insurance2022-10-11T11:40:35+11:00

Insurance Courses

Insurance

What is insurance?

We all have items or situations that we consider valuable. Which is where insurance comes in – policies consumers take up to protect precious things or their lifestyle.

If you work for an insurer, bank, insurance broker, financial adviser or superannuation fund that distributes general or life insurance products, we have the right learning solutions for you.

Our insurance solutions include:

  • initial accreditation
  • continuing education
  • qualifications and
  • tailored solutions for your team.

RG146 General Insurance

Our General Insurance programs are designed for organisations and employees who sell general, personal and business insurance products as defined in RG 146.

Learn the fundamentals of general insurance in Australia, how insurance works, the key players in the market, the features and characteristics of insurance products, and the legal environment it operates in.

Most general insurance products are Tier 2.

What is the difference between Tier 1 and Tier 2 General Insurance?

Tier 1 General Insurance incorporates coverage of personal sickness and accident insurance. To be RG146 compliant to provide general advice in Tier 1 General Insurance, you must also successfully complete Generic Knowledge.

Tier 1 Insurance Broking

Our RG146 insurance broking program is for new or existing brokers wanting to provide personal or general advice in general insurance products. It is also suitable for brokers seeking to update their initial general insurance compliance and extend their authorisations to insurance broking.

Tier 1 Insurance Broking  meets ASIC Regulatory Guide 146 (RG146) education requirements for providing general and personal advice with broking clients.

FNS51220 Diploma of Insurance Broking

Our nationally recognised qualification FNS51220 Diploma of Insurance Broking is designed to provide relevant industry knowledge and skills for a successful career in insurance broking.

Our FNS51220 Diploma of Insurance Broking is suitable for

  • Insurance brokers upskilling or updating current credentials
  • Industry professionals expanding or transitioning into insurance broking
  • New entrants seeking to pursue a career in the general insurance sector.

Insurance Accreditation and Certification

Frequently Asked Questions

What is General Insurance?2022-10-11T15:48:02+11:00

There are three types of general insurance:

  • property insurance
  • liability insurance, and
  • sickness and accident insurance.

Personal sickness and accident policies are offered by general insurance companies but are more complex than other types of policies offered by general insurance companies. This is underscored by Corporations law’s and ASIC’s RG 146 regulatory guidance that personal sickness and accident insurance should be treated as a Tier 1, requiring a high level of training (Diploma equivalent).

All other forms of general insurance are designated Tier 2, requiring lower level training.

What is the difference between Tier 1 and Tier 2 General Insurance?2023-02-27T14:09:25+11:00

Most general insurance products are Tier 2. There is only Tier 1 General Insurance product – Personal Sickness and Accident Insurance.

To be fully compliant in Tier 1 General Insurance you also need to study, or to have previously studied, Generic Knowledge. Tier 2 General Insurance study includes coverage of some regulatory requirements prescribed by ASIC in RG146 but not Generic Knowledge in its entirety.

What tiers of General Insurance do each of your RG146 Insurance courses cover?2022-08-26T12:51:26+10:00

We offer:

Our Tier 1 General Insurance and Insurance Broking courses both cover Tier 2 General Insurance PLUS an additional topic on the one and only Tier 1 General Insurance product, i.e. Personal Sickness and Accident Insurance.

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.

About our Our RG146 courses.2022-10-11T15:50:40+11:00

We offer an online, modular approach, allowing you to study and complete one RG146 specialist knowledge area at a time.

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.

What are ASIC’s RG146 training standards?2022-10-11T15:51:38+11:00

ASIC’s training standards are sets of knowledge and (in some cases) skill requirements that must be satisfied by advisers before they give advice.

Knowledge and skill requirements vary depending on:

  • whether the adviser gives general or personal advice; and
  • what products the adviser gives advice on.
  • Some products are classified as being Tier 1, while others are Tier 2

The knowledge requirements are set out in Appendix A of RG146 and the skill requirements are set out Appendix B.

How do I enrol my team?2023-07-25T15:33:41+10:00

You can enrol your team either:

  • Enrol online or
  • Contact us to arrange an invoice.

Talk with us to develop your team training program.

Need help finding the right course?

Speak to our expert team

What others say about us

Industry leaders in CPD

The delivery method, the flexibility and the currency and relevance of content. FEP are and have always been a leader in CPD for the
finance industry – thankyou

Diane Wilkinson, WiZDOM

Parallels real workplace experience.

We have been using FEP for a number of years now. The course materials are highly professional and parallels real workplace experience. Staff greatly value participating in meaningful external training and are the greatest advocates.

Efficient, informative and accessible.

The content is well set out, clear and precise. My organisation does the course every year and we are continuing to learn new and interesting things with each new offering. The content is up to date with the industry and completely relevant to my role. I had all the support and learning resources available to get it done…

Extremely relevant and meaningful.

Our firm exclusively uses the services of Financial Education Professionals for all of our ongoing RG146, compliance and responsible manager training for our team. We find course materials extremely relevant and meaningful and this allows our team to have up to date, practical knowledge.

Peter McGuire, CEO, XM

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