Subdiv 11Public liability insurance

Subdivision 11—Public liability insurance 48—Public liability insurance (1) A licensee must, before commencing authorised operations and for the duration of the term of the licence, maintain a policy of public liability insurance indemnifying the licensee, in an amount that is reasonable taking into account the kind of licence, the nature and extent of the operations undertaken under the licence, and relevant industry standards, in relation to any action arising out of the operations undertaken under the licence and complying with the other requirements (if any) determined by the Minister. Maximum penalty: $20 000. (2) The licensee must provide to the Minister a certificate evidencing the insurance coverage required by subsection (1), and any endorsements or waivers relating to insurance coverage, in accordance with the requirements of this section. (3) A certificate under subsection (2) must be provided to the Minister before authorised operations commence under the relevant licence and then a current certificate must be provided to the Minister— (a) unless paragraph (b) applies—by each anniversary of the day on which the relevant licence was granted; or (b) if the Minister so determines—on another date in each year, or according to a particular frequency, determined by the Minister. (4) The licensee must, in accordance with this section, notify the Minister— (a) if any insurance obtained for the purposes of this section lapses without having been renewed; or (b) if there is a change in an insurance policy obtained for the purposes of this section, including a change in the level of cover. (5) A notification under subsection (4)— (a) must be provided to the Minister within 14 days after the relevant event under that subsection; and (b) must be provided in a manner and form determined by the Minister; and (c) must contain the information determined by the Minister, and be accompanied by such information as the Minister may determine. (6) A licensee must, at the request of the Minister, provide to the Minister a copy of the policy of insurance relating to the requirements that apply under this section within a period specified by the Minister.