75Registered building practitioners must meet insurance requirements

#### 75 Registered building practitioners must meet insurance requirements 75 Registered building practitioners must meet insurance requirements > > (1) For the purposes of section 24(2)(a) of the Act, a registered building practitioner must be indemnified under an insurance policy, whether a professional indemnity policy or otherwise, that complies with this clause. > > > (2) An insurance policy must, in the reasonable opinion of the registered building practitioner concerned, provide for an adequate level of indemnity for the liability that could be incurred by the practitioner in the course of the practitioner’s work. > > > (3) In determining whether a policy provides for an adequate level of indemnity, the practitioner must take into account the following matters— > > > > > (a) the nature and risks associated with the work typically carried out by the practitioner, > > > > > (b) the volume of the work typically carried out by the practitioner, > > > > > (c) the length of time that the practitioner has been registered, > > > > > (d) a reasonable estimate of claims that could be brought against the practitioner on the basis of paragraphs (a)–(c), > > > > > (e) the financial capacity of the practitioner, > > > > > (f) any limits, exceptions, exclusions, terms or conditions of the policy.