sch.4-sec.4Insurance

sch.4-sec.4 Insurance

The sublessee of the sublease must take out a public liability insurance policy (the insurance policy ), complying with subsection (2) , with— a general insurer authorised under the Insurance Act 1973 (Cwlth) ; or another insurer approved by the Minister. The insurance policy must— name the sublessee as the person insured under the policy; and insure the sublessee against— legal liability for any loss of, or damage to, any property, and for injury (including death) to any person, arising out of anything done or omitted to be done on or about the sublease land or any improvements on the sublease land; and all actions, claims, demands, proceedings, costs, charges and expenses, including claims in negligence; and insure the sublessee for at least $20m, or a higher amount reasonably required by the Minister, for each event; and insure the sublessee on a ‘claims occurring’ basis; and be maintained by the sublessee at all times during the term of the sublease. If an event occurs that the sublessee considers is likely to give rise to a claim under the insurance policy, the sublessee must— give the Minister written notice of the event as soon as practicable after the event occurs; and ensure the sublessor and the Minister are kept fully informed of subsequent actions and developments concerning the claim. The sublessee must— renew the insurance policy, at the sublessee’s expense, each year during the term of the sublease; and if the sublessee receives a notice of cancellation in relation to the policy—immediately take out another public liability insurance policy complying with subsection (2) . This section does not apply if the sublessee— is the State, or a statutory authority eligible for insurance from the Queensland Government Insurance Fund; and is insured, and continues to be insured, by the Queensland Government Insurance Fund. Also, this section does not apply if the sublessee— is the Commonwealth, or a statutory authority eligible for insurance from Comcover; and is insured, and continues to be insured, by Comcover. (sch.4-sec.4-ssec.1) The sublessee of the sublease must take out a public liability insurance policy (the insurance policy ), complying with subsection (2) , with— a general insurer authorised under the Insurance Act 1973 (Cwlth) ; or another insurer approved by the Minister. (sch.4-sec.4-ssec.2) The insurance policy must— name the sublessee as the person insured under the policy; and insure the sublessee against— legal liability for any loss of, or damage to, any property, and for injury (including death) to any person, arising out of anything done or omitted to be done on or about the sublease land or any improvements on the sublease land; and all actions, claims, demands, proceedings, costs, charges and expenses, including claims in negligence; and insure the sublessee for at least $20m, or a higher amount reasonably required by the Minister, for each event; and insure the sublessee on a ‘claims occurring’ basis; and be maintained by the sublessee at all times during the term of the sublease. (sch.4-sec.4-ssec.3) If an event occurs that the sublessee considers is likely to give rise to a claim under the insurance policy, the sublessee must— give the Minister written notice of the event as soon as practicable after the event occurs; and ensure the sublessor and the Minister are kept fully informed of subsequent actions and developments concerning the claim. (sch.4-sec.4-ssec.4) The sublessee must— renew the insurance policy, at the sublessee’s expense, each year during the term of the sublease; and if the sublessee receives a notice of cancellation in relation to the policy—immediately take out another public liability insurance policy complying with subsection (2) . (sch.4-sec.4-ssec.5) This section does not apply if the sublessee— is the State, or a statutory authority eligible for insurance from the Queensland Government Insurance Fund; and is insured, and continues to be insured, by the Queensland Government Insurance Fund. (sch.4-sec.4-ssec.6) Also, this section does not apply if the sublessee— is the Commonwealth, or a statutory authority eligible for insurance from Comcover; and is insured, and continues to be insured, by Comcover.