Australian Capital Territory Numbered Regulations Australian Capital Territory Numbered Regulations(1) For the purposes of subsection 3 (2) of the Act, the prescribed kind of insurance in relation to a registered construction practitioner who is registered as a Principal Building Surveyor or a Building Surveyor is professional indemnity insurance that provides the following:
(a) a minimum limit of indemnity of $1,000,000 per year;
(b) a minimum limit of indemnity of $1,000,000 in relation to any 1 claim;
(c) at least 1 automatic reinstatement of indemnity;
(d) a run-off provision continuing the indemnity for 10 years after the registered construction practitioner ceases to be insured by the provider of the insurance;
(e) a maximum excess of $5,000 in relation to any 1 claim.
(2) A run-off provision under paragraph (1) (d) shall not require the registered construction practitioner at the time of cessation of insurance—
(a) to apply for the indemnity; or
(b) to pay an additional premium for the indemnity.
(3) For the purposes of subsection 3 (2) of the Act, the prescribed kind of insurance in relation to a registered construction practitioner who is registered as a Plumbing Plan Certifier is—
(a) in the case of a construction practitioner who is registered by The Institution of Engineers, Australia on the National Professional Engineers Register—professional indemnity insurance providing a minimum limit of indemnity of $1,000,000 per year; or
(b) in any other case—public liability insurance providing a minimum limit of indemnity of $1,000,000 per year.