Div 25Insurance

Division 25—Insurance 25‑1  Registered trustees to maintain insurance Registered trustee must maintain insurance  (1) A registered trustee must maintain:  (a) adequate and appropriate professional indemnity insurance; and  (b) adequate and appropriate fidelity insurance; against the liabilities that the trustee may incur working as a registered trustee.  (2) The Inspector‑General may, by legislative instrument, determine what constitutes adequate and appropriate professional indemnity insurance, and adequate and appropriate fidelity insurance, in relation to either or both of the following:  (a) specified circumstances;  (b) one or more specified classes of registered trustees. Penalty: 1,000 penalty units. Penalty: 60 penalty units.