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Compensation and insurance

Compensation and Insurance Arrangements for Credit Licensees

Course Details

Description

Welcome to our comprehensive online course on Compensation and Insurance Arrangements for Credit Licensees.

This course is designed to provide credit licensees with the essential knowledge and skills required to comply with legal obligations under the National Consumer Credit Protection Act 2009. Learn how to protect consumers from potential losses arising from breaches of legal obligations through professional indemnity (PI) insurance and other compensation arrangements.

In this course, you will explore the intricacies of compensation and insurance arrangements for credit licensees in Australia. The course covers the requirements set by the Australian Securities and Investments Commission (ASIC) under Regulatory Guide 210, focusing on professional indemnity (PI) insurance as the primary method for fulfilling these requirements. You will learn how to assess the adequacy of PI insurance policies, understand alternative compensation arrangements, and apply best practices to maintain compliance with RG 210.

Who should enrol?

This course is ideal for:

  • Credit licensees and their representatives
  • Compliance officers
  • Financial advisors
  • Legal professionals
  • Anyone interested in understanding compensation and insurance arrangements for credit licensees

Take the first step towards mastering compensation and insurance arrangements for credit licensees. Enrol now and gain the knowledge and skills to protect consumers and ensure compliance with legal obligations.

Estimated Time To Complete

Approx 2 Hours

Learning Outcomes

By the end of this course, you will be able to

Explain the legal obligations of credit licensees under the National Consumer Credit Protection Act 2009 regarding compensation and insurance arrangements.
Evaluate the key factors that determine the adequacy of professional indemnity (PI) insurance, including coverage amount, policy scope, and terms and conditions.
Analyse the requirements for alternative compensation arrangements and the criteria for obtaining ASIC approval.
Apply best practices to maintain compliance with RG 210 and mitigate risks associated with financial claims.

Topics

Introduction to compensation and insurance arrangements for credit licensees
Legislative background and ASIC’s approach
Professional Indemnity (PI) insurance
Alternative compensation arrangements
Best practices for compliance and risk mitigation

Requirements

Computer, tablet or mobile
Internet Connection
Edge, Safari, Chrome or Firefox

Course Delivery

Online Learning

Course Access

12 Months

CPD Hours

1 Hours

Assessment

Multiple Choice

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