Australian Capital Territory Numbered Regulations

CONSTRUCTION PRACTITIONERS REGISTRATION AMENDMENT REGULATIONS 2002 (NO 1) (NO 25 OF 2002) - REG 4

substitute

    (2)     The insurance must be professional indemnity insurance that provides—

        (a)     indemnity against claims for breach of professional duty as a certifier; and

        (b)     a minimum limit of indemnity of $1 000 000 for any 1 claim; and

        (c)     a minimum limit of indemnity of $1 000 000 for the total of all claims against the insured made in the period of cover; and

        (d)     in addition to the indemnities mentioned in paragraphs (b) and (c), a minimum limit of indemnity for the costs and expenses of defending or settling a claim of 20% of the limit of indemnity for the claim.

    (3)     In subregulation (2) (d)—

"costs and expenses" means costs and expenses incurred with the insurer's consent.