General Insurance Courses
General Insurance Training Courses
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.
Who is RG 146 General Insurance for?
RG 146 continues to apply to people who provide:
- general advice and
- personal advice on basic banking products, general insurance and/or consumer credit insurance
RG 146 refers to ‘Tier 1 products’ and ‘Tier 2 products’. As a result of the professional standards reforms, ASIC considers, in general, that:
- Tier 1 products are relevant financial products, and
- Tier 2 products are financial products that are not relevant financial products (i.e. basic banking products, general insurance products and/or consumer credit insurance, and time-sharing schemes).
Refer to RG 146 Licensing: Training of financial product advisers
Frequently Asked Questions
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.
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.
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.
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.
To get started, either:
- Purchase course/s online. (You can add multiple courses to the cart.)
Please note: Online orders may take up to 1 business day to be processed and for your team to receive their course login details.
OR
Contact us for your Corporate Solution.