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Unisa Short Learning Programmes
IISA Introductory Programme to Short Term Insurance (7652X)

Purpose

Specifically developed by Unisa and the Insurance Institute of South Africa (IISA) to serve the educational needs of the short-term insurance industry in South Africa and to provide individuals in this industry with a higher education qualification in order to both satisfy educational and regulatory needs. To improve the knowledge and competence of financial advisors and intermediaries, which is required in terms of the requirements of the FAIS Act. 

 

This SLP is the first part of a specific learning programme for the short-term insurance market. As such, learners who have completed this SLP will continue with a further NQF Level 6 Programme in Short-Term Insurance, in order to complete 

their insurance studies at this level. 


Target group

Typical students who enroll for this programme will be employed by short term insurance companies or insurance brokers. Students not presently employed in the insurance industry, but who may want to obtain the credits attached to the programme in order to obtain employment in the insurance industry will also be allowed to enroll. 

 

Successfully completing the programme improves students’ employability, because they can then become short-term insurance practitioners who have a good introductory understanding of the legal framework within which short-term insurance business is conducted, as well as personal insurance practice, commercial insurance, marine and aviation insurance, reinsurance and risk management. 

 

In addition, all intermediaries in the insurance industry who offer ‘advice’ on products need to be in possession of suitable academic qualifications and this SLP is in line with part of such requirements. 


Admission requirements

National Senior Certificate or an equivalent NQF level 4 qualification 


Duration

6 months 


Language medium

English 


Registration periods

First semester: 29 November 2013 to 24 January 2014. 

Second semester: 2 June to 11 July. 


Tuition method

UNISA open distance learning through study guides, learning material and support programmes 


Kind of assessment

Note: 

Formative assessment and examination admission will comply with UNISA’s formative assessment rules and policies 

Formative assessment: 

Two assignments must be submitted and will count towards the final mark. The assignments count 10% towards the final mark, while the examination counts 90%. If you are unsuccessful in the examination, you will need a minimum of 40% to be awarded a supplementary (rewrite) examination. 

Summative assessment: 

A formal 2-hour examination question paper will be set for each module. Candidates must obtain at least 50% per module to pass. A mark of 75% will constitute a distinction. Supplementary (second opportunity) examinations will be written in the following semester when the particular module is offered and carry an additional examination fee. 


Legal Framework of Insurance (Compulsory) (IPST01E)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Introduction to South African law 
  • State revenue sources 
  • Regulatory issues/consumer protection 
  • The law of contract 
  • The contract of insurance, third party rights 
  • The law of agency 

 


Introduction to Personal Insurance Practice (Elective) (IPST02F)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Insurance and the consumer 
  • The personal insurance market today 
  • Managing the domestic risk 
  • Reinsurance and personal lines business 
  • The proposal 
  • Policy wording: general terms and conditions 

 


Introduction to Commercial Insurance Practice (Elective) (IPST03G)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Standards features of the Multimark policy 
  • Fire and perils 
  • Business interruption 
  • Principles of liability insurance 
  • The liability policy 
  • Other forms of liability cover 

 


Marine Insurance (Elective) (IPST04H)
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Geography 
  • Trades and commodities 
  • International trade 
  • Marine insurance 
  • Marine policies 
  • Marine Insurance Act 

 


Introduction to Reinsurance Practice (Elective) (IPST05J )
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • Basics of reinsurance 
  • Methods of reinsurance 
  • Proportional reinsurance 
  • Non-proportional reinsurance 
  • Classes of insurance 

 


Introduction to Risk Management (Elective) (IPST06K )
HEQF Level of Module - NQF Level 6
Credits of Module - 12
Syllabus/Content Topics
  • The concept of risk 
  • The role of risk management 
  • Risk identification methods 
  • Risk identification 
  • Risk evaluation 
  • Risk and loss control 

 


Course leader

Mr J van Huyssteen BCom Hons 

Centre for Business Management 

Office 05-117, A J H van der Walt Building, UNISA 

Tel: 012 429  2576 

E-mail: vhuysj@unisa.ac.za  / pins@unisa.ac.za 

 


Programme administrator(s)

Tel: 012 352 4228 / 4377 

Fax: 086 639 7433 

E-mail: pins@unisa.ac.za 

Web: www.unisa.ac.za/pins