SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Describe the insurance of watercraft 
SAQA US ID UNIT STANDARD TITLE
10374  Describe the insurance of watercraft 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04  5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Registered" 		 2002-06-12  2005-06-12  SAQA 0742/02 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2006-06-12   2009-06-12  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
120008  Demonstrate knowledge and understanding of the insurance of pleasure craft  Level 4  NQF Level 04  3   

PURPOSE OF THE UNIT STANDARD 
This unit standard provides an introduction to transportation insurance.

The qualifying learner is capable of:
  • Explaining basic cover in a watercraft policy.
  • Explaining extensions to and exclusions from cover under a watercraft policy.
  • Assessing the risk associated with watercraft.
  • Processing a watercraft claim. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this Unit Standard. Learners should be competent in Communication, Mathematical Literacy and Financial Literacy at NQF Level 3. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is:
    1. Watercraft and private pleasure craft excluding commercial hulls used on inland waterways and international sailing.
    2. Type of craft includes powerboats, rowing boats, yachts, water-skis, rubber dinghy, sailboard, jet skies and canoes.
    3. Effect of use includes private, racing and commercial.
    4. Implied terms include seaworthiness and sound order.
    5. Cover includes local and international cover.
    6. Risks covered include risks associated with equipment, hull, and additional extensions, hi-jacking and theft. 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain basic cover in a watercraft policy. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The type of craft insured under a watercraft policy is named with examples. 

    ASSESSMENT CRITERION 2 
    2. The effect of the use of the craft is explained with examples. 

    ASSESSMENT CRITERION 3 
    3. The type of cover offered with watercraft insurance is named and an indication is given of the risks that are covered with reference to a specific policy. 

    ASSESSMENT CRITERION 4 
    4. Reasons why certain insured perils are excluded from a policy are explained using case studies. 

    ASSESSMENT CRITERION 5 
    5. The standard limit of liability is identified for a specific policy. 

    SPECIFIC OUTCOME 2 
    Explain extensions to and exclusions from cover in a watercraft policy. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The additional equipment carried on a yacht is named and an indication is given of extensions that would be required for inland and sea going vessels. 

    ASSESSMENT CRITERION 2 
    2. The additional equipment carried on a powerboat is named and an indication is given of extensions that would be required for inland and sea going vessels. 

    ASSESSMENT CRITERION 3 
    3. The additional equipment carried on a rubber dinghy is named and an indication is given of extensions that would be required for inland and sea going vessels. 

    ASSESSMENT CRITERION 4 
    4. Possible extensions to cover are investigated for three different insurers. 

    ASSESSMENT CRITERION 5 
    5. Cover required for water skiers is explained with reference to third party and passenger liability. 

    ASSESSMENT CRITERION 6 
    6. A policy document is analysed, implied terms are identified and an indication is given of the implications of the implied terms to the policy. 

    ASSESSMENT CRITERION 7 
    7. Standard exclusions are identified in a specific policy and an indication is given as to which exclusions could possibly be covered as an extension under negotiated circumstances. 

    ASSESSMENT CRITERION 8 
    8. The SASRIA cover for watercraft is explained and additional cover required outside of South Africa's territorial limits is presented as an option to the client. 

    SPECIFIC OUTCOME 3 
    Assess the risk associated with watercraft. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. A rating table is used to determine a quote. 

    ASSESSMENT CRITERION 2 
    2. The criteria used to assess the risk on water craft are explained with reference to use of vessel, experience of crew, other users, type of craft, geographical limits, age of vessel, security and storage. 

    ASSESSMENT CRITERION 3 
    3. The effect of type of construction and finish on premium is explained in terms of materials used in construction. 

    ASSESSMENT CRITERION 4 
    4. Watercraft regarded as a high risk is named and reasons why they are regarded as a high risk are explained using case studies. 

    SPECIFIC OUTCOME 4 
    Process a watercraft claim. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Product knowledge is applied to register a claim against a specific insurer. 

    ASSESSMENT CRITERION 2 
    2. A decision is made on whether to pay a claim or to appoint a surveyor with reference to quantum and type of claim. 

    ASSESSMENT CRITERION 3 
    3. The process followed in claims involving liability or third party is explained and an indication is given of why this process is essential. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This Unit Standard will be internally assessed by the provider and moderated by a moderator registered by INSQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA,
    INSQA framework for assessment and moderation. 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    The learner can identify and solve problems using critical and creative thinking when making a decision to register a claim or appoint a surveyor and presenting options for extensions to cover to a client. 

    UNIT STANDARD CCFO COLLECTING 
    The learner can collect, organise and evaluate information when s/he investigated possible extensions to cover for three different insurers, and applying product knowledge to register a claim. 

    UNIT STANDARD CCFO COMMUNICATING 
    The learner can communicate effectively using visual, mathematical and language skills in oral and written presentation when the concepts contained in the standard are explained and in using a rating table to determine a premium. 

    UNIT STANDARD CCFO SCIENCE 
    The learner can use science and technology effectively and critically showing responsibility towards the environment and the health of others in assessing the risk and processing a claim. 

    UNIT STANDARD CCFO DEMONSTRATING 
    The learner can demonstrate an understanding of the world as a set of related systems by recognising the effect of use on the craft, explaining why certain insured perils are excluded from a policy, understanding the implication of implied terms and assessing the risk associated with water craft. 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 120008, which is "Demonstrate knowledge and understanding of the insurance of pleasure craft" Level 4, 3 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  21796   National Certificate: Short Term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2005-06-12  Was INSETA until Last Date for Achievement 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    NONE 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.