RG 146 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 programs

Designed to give you fundamental knowledge of general insurance in Australia, you will learn about how insurance works, the key players in the market, the features and characteristics of insurance products, and the legal environment it operates in.

Who does RG146 compliance apply to?

RG146 continues to apply for certain groups, namely licensees and advisers who:

  • Provide general advice
  • Provide personal advice to retail clients in Insurance Broking, General Insurance and/or in Deposit Products & Non-Cash Payment Products only
  • Are already listed on the Financial Advisers Register and wish to add an additional RG146 specialist knowledge area to their existing credentials.
Questions? Check out our FAQs

Tier 2 General Insurance

General Advice Tier 2 General Insurance ($215)

Our Tier 2 General Insurance course is designed for organisations and employees who sell general, personal and business insurance products as defined in RG 146.

Learning outcomes

  • Identify the key participants, Tier 2 products, and activities that comprise insurance markets
  • Describe the types of risks that insurance is designed to protect against
  • Discuss the conduct and disclosure requirements prescribed in legislation and regulation that apply to the insurance industry
  • Evaluate best practice principles for providing general advice to clients

Course content

  • Overview of insurance markets
  • Specialist general insurance knowledge
  • Legal environment – disclosure and compliance
  • Providing insurance product information

Subject Assessment

One (1) online open-book knowledge examination comprising of thirty (30) multiple choice questions.

Download our RG146 Tier 2 General Advice in General Insurance brochure

Personal Advice in Tier 2 General Insurance ($495)

Our Personal Advice in Tier 2 General Insurance course is designed for organisations and employees who provide personal advice to retail clients in Tier 2 insurance products as defined in RG146.

Learning outcomes

  • Identify the key participants, Tier 2 products, and activities that comprise insurance markets
  • Describe the types of risks that insurance is designed to protect against
  • Discuss the conduct and disclosure requirements prescribed in legislation and regulation that apply to the insurance industry
  • Evaluate best practice principles for providing personal advice to clients

Course content

  • Overview of insurance markets
  • Specialist general insurance knowledge
  • Legal environment – disclosure and compliance
  • Providing insurance product information
  • Additional component – Skills assessment

Assessment

  • One (1) online open-book knowledge examination comprising of thirty (30) multiple choice questions
  • Interview over the phone with an ASIC authorised assessor

Download our RG146 Tier 2 Personal Advice in General Insurance brochure

For Tier 2 RG 146 accredited advisers seeking to upgrade to Tier 1, we offer an upgrade program. Please contact us for further information.

Tier 1 Insurance

Tier 1 General Insurance covers Personal Accident and Sickness.

General Advice in Tier 1 General Insurance ($585)

Our General Advice in Tier 1 General Insurance program is designed for organisations and employees who sell general, personal and business insurance products as defined in RG 146. Importantly, this course incorporates coverage of personal accident and sickness insurance. Existing authorised representatives can also complete this course to extend their advisory range into Tier 1 general insurance products.

Learning outcomes

  • Identify the key participants, products, and activities that comprise insurance markets
  • Describe the types of risks that general insurance is designed to protect against
  • Explain the features of characteristics of personal accident and sickness policies that led ASIC to consider them a more complex insurance product
  • Discuss the conduct and disclosure requirements prescribed in legislation and regulation that apply to the insurance industry
  • Evaluate best practice principles for providing general advice to clients

Course content

Generic Knowledge

  • Overview of financial services industry and regulation
  • Operation of financial markets and the economy
  • Financial markets and products
  • Relevant legal principles and compliance

Tier 1 General Insurance

  • Overview of insurance markets
  • Specialist general insurance knowledge
  • Personal Accident and Sickness Insurance
  • Providing insurance product information

Assessment

  • 2 x Online open-book knowledge exam (MCQ’s)

Personal Advice in Tier 1 General Insurance ($895)

Our Personal Advice in Tier 1 General Insurance is designed for organisations and employees who sell general, personal and business insurance products as defined in RG 146. Importantly, this course incorporates coverage of personal accident and sickness insurance. Existing authorised representatives can also complete this program to extend their advisory range into Tier 1 general insurance products. As well as general and specialist industry knowledge, our program offers tips for engaging with clients – whether they are enquiring over the phone or in person.

Learning outcomes

  • Demonstrate compliance with corporations law, regulatory requirements and other legal principles that apply to participants in the financial services industry
  • Identify the key participants, products, and activities that comprise insurance markets
  • Describe the types of risks that general insurance is designed to protect against
  • Explain the features of characteristics of personal accident and sickness policies that led ASIC to consider them a more complex insurance product
  • Discuss the conduct and disclosure requirements prescribed in legislation and regulation that apply to the insurance industry
  • Evaluate best practice principles for providing personal advice to clients

Course content

Generic Knowledge

  • Overview of financial services industry and regulation
  • Operation of financial markets and the economy
  • Financial markets and products
  • Relevant legal principles and compliance

Tier 1 General Insurance

  • Overview of insurance markets
  • Specialist general insurance knowledge
  • Personal Accident and Sickness Insurance
  • Providing insurance product information

Assessment

  • 2 x Online open-book knowledge exam (MCQ’s)
  • Skills assessment – Interview in person or over the phone with an ASIC authorised assessor

Personal Advice Tier 1 Insurance Broking Program ($895)

Our RG146 Insurance broking program covers the core and specialist knowledge and skills an insurance broker needs.

Insurance brokers play an important role in insurance markets, comparing general insurance products from multiple providers to develop risk management solutions for clients, particularly businesses and customers with complex needs.

Learning outcomes

  • Interpret and comply with industry regulations and codes of practice
  • Analyse client’s needs, financial situation and risk profile, and prepare appropriate general insurance strategies or solutions
  • Provide accurate and ethical advice on insurance broking products and services
  • Implement general insurance plans, policies or transactions once agreed by the client and complete documentation accurately.

Program content

Generic Knowledge

  • Topic 1: Overview of financial services industry and regulation
  • Topic 2: Operation of financial markets and the economy
  • Topic 3: Financial markets and products
  • Topic 4: Relevant legal principles and compliance

Assessment: Online multiple choice examination

Tier 1 Insurance Broking

  • Topic 1: Introduction to insurance markets
  • Topic 2: Specialist general insurance knowledge
  • Topic 3: Overview of the insurance broking process
  • Topic 4: Insurance broking skills

Assessment: Online multiple choice examination + Online Skills Assessment

Our Life Insurance program

Tier 1 Life Insurance ($325)

Designed to give you key fundamental knowledge of the life insurance market in Australia, RG146 Life Insurance includes how life insurance works, the different products

Learning outcomes

  • Identify the key participants, products, and activities that comprise insurance markets
  • Describe the types of risks that life insurance is designed to protect against
  • Discuss the conduct and disclosure requirements prescribed in legislation and regulation that apply to the selling of life insurance products

Program content

  • Insurance markets
  • Life insurance products
  • Life insurance underwriting, premiums and claims

Note that insurer representatives and advisers providing personal advice to retail clients in life insurance must now meet FASEA education and continuing professional development standards.

General insurance is subdivided into Tier 1 and Tier 2 products. What is the difference?

Tier 1 General Insurance covers Personal Accident and Sickness, which is not included in Tier 2 General Insurance.

To achieve compliance to give personal advice, participants must also complete an additional Skills assessment.

What is a skills assessment?

This assessment tests your ‘abilities’ around engaging a client and the relevant information you should provide to and elicit from a client when providing personal financial advice. The individual Skills assessment is an interview, conducted by an ASIC authorised assessor.

General insurance includes:

  • Car or motor insurance, including rideshare driver insurance
  • Boat and caravan insurance
  • Home and contents insurance, including landlord insurance
  • Health insurance
  • Travel insurance
  • Pet insurance
  • Consumer credit insurance
  • Commercial or business insurance
  • Liability insurance, including workers’ compensation, public liability and professional indemnity
  • Specialist industry insurance, e.g. cargo and freight, aviation, rural property, livestock, and crop

Life insurance includes:

  • Term life insurance
  • Trauma (or critical illness) insurance
  • Total and permanent disablement (TPD)
  • Accidental death and dismemberment insurance
  • Income protection

Whatever your insurance learning need we have relevant courses available. Our insurance courses can be studied for industry knowledge or to achieve RG 146 compliance.

And you’re welcome to contact us to discuss a tailored corporate solution.