As the leading professional membership and education body for the insurance industry the Institute is uniquely placed to offer brokers a full range of professional solutions.
From professional recognition through Institute membership to internationally recognised qualifications and practical, day-to-day professional development activities designed to meet regulatory requirements, the Institute offers the broking community the best mix of quality and affordable services.
The Institute offers two professional qualifications in Insurance Broking:
The starting point for school-leavers or anyone wishing to develop a career in insurance at entry level, the Certificate III traineeship is a government-subsidised employment-based training program that gives new entrants a solid introduction to the insurance industry and provides a foundation for further development.
| Fee | A$3885 - Government funding available (Australian students only) |
| Duration | 1-2 years depending on state requirements |
| Delivery | Traineeship |
| Assessment | Assessment for each module consists of:
- a case study based assignment
- an examination containing multiple choice, short answer and case study based questions. Find out more ... |
| Membership Outcome | Ordinary Member |
| Further Education | The next step in a career in insurance is the Diploma of Financial Services - Insurance Broking. |
Course Content
The Certificate III in Financial Services - Insurance Broking is broken up into the following ten sections:
Section 1 - Working in an office environment
Section 2 - The insurance market
Section 3 - The financial environment
Section 4 - The legal environment
Section 5 - The Insurance Contracts Act
Section 6 - The Corporations Act
Section 7 - Privacy
Section 8 - Code of Practice and dispute resolution
Section 9 - Working with clients
Section 10 - Claims.
The Institute’s Diploma of Financial Services – Insurance Broking is designed for general insurance brokers employed at an account executive or broking manager level, and provides Senior Associate Certified Insurance Professional (CIP) membership of the Institute – the benchmark for industry professionalism.
The Diploma develops technical knowledge and skills to effectively manage a broking business and provide quality insurance services to clients.
| Fee | A$825 per module NZ$910 per module |
| Duration | Five modules: Each study period lasts 12 weeks. (Students are able to study more than one module per study period.) |
| Delivery | Distance Learning |
| Assessment | Assessment for each module consists of:
- a case study based assignment
- an examination containing multiple choice, short answer and case study based questions. Find out more ... |
| ASIC Compliance | RG146 Tier 1 Insurance Broking
RG 104 and 105 (Australian modules only) |
| Membership Outcome | Senior Associate CIP |
| Further Education | Upon completion of the Diploma students are eligible for credit into the Bachelor of Business (Insurance) at Charles Sturt University. |
Course Content
To be awarded the Diploma of Financial Services - Insurance Broking students must complete four core modules and one elective module:
FSB501 Providing Customer Advice
FSB502 Insurance Law and Regulation for Brokers OR FSB506 New Zealand Insurance Law and Regulation for Brokers (New Zealand Students)
FSB503 Claims Handling for Brokers
FSB504 Risk Assessment and Management
Elective modules
