38Private marine surveyors—professional indemnity insurance

38 Private marine surveyors—professional indemnity insurance

(1) This section applies to an accredited marine surveyor who is a private marine surveyor. (2) The surveyor must: (a) if the surveyor is an employee—be covered by a professional indemnity insurance policy that provides insurance cover of at least $1 000 000; and (b) in any other case—obtain and maintain a professional indemnity insurance policy that provides insurance cover of at least $1 000 000. (3) The surveyor must provide proof of the professional indemnity insurance policy to the National Regulator: (a) within 5 days after taking out or renewing the policy; and (b) at any time on request by the National Regulator. (4) For subsection (3), the surveyor must provide the following proof: (a) a copy of the certificate of currency for the policy; (b) if the policy is issued outside Australia—a letter from the insurance broker for the policy confirming that the policy has been obtained.