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Explain how the insurance market is structured and operates. No distinction differentiator. Portfolio Reflective discussion Fail Pass Distinction Describe the roles and key activities of the various parties involved and how they interact. No distinction differentiator. Portfolio Reflective discussion Fail Pass Distinction Describe the main products and services commonly available in the insurance market and explain how they are applied. No distinction differentiator. Portfolio Reflective discussion Fail Pass Distinction 1.2 Risk and Regulatory A comprehensive understanding of the Financial Services legal and regulatory framework and organisational policies and procedures to ensure compliance. Demonstrates an understanding of how a range of situations may be affected by legal and insurance principles. The apprentice can: Explain the key legal and insurance principles and how they apply in the role. No distinction differentiator. Portfolio Reflective discussion Fail Pass Distinction Explain how the insurance principles have been affected and modified by legislation. No distinction differentiator. Portfolio Reflective discussion Fail Pass Distinction Explain the roles and responsibilities of the regulators of the financial services industry. No distinction differentiator. Portfolio Reflective discussion Fail Pass Distinction Evaluate how the organisation ensures compliance through their policies and procedures. No distinction differentiator. Portfolio Reflective discussion Fail Pass Distinction Explain the consequences of non-compliance for yourself, the No distinction differentiator. Portfolio Reflective discussion Fail Pass Distinction 1
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