Insurance requirements
ACPs may be required to hold and maintain insurance. Insurance requirements are dependent on the activity for which you are or will be accredited. Where insurance is required, it must be in place before you become accredited.
Table 7.1 Insurance requirements and obligations
|
What
|
Who
|
Requirement
|
Legislative Instrument
|
Additional information
|
|
Public liability insurance
|
ACPs performing RESAs which involve performing implementations at sites that are not your property
|
- You and your contractorsa and agents must hold and maintain public liability insurance of at least $5 million
- Public liability insurance must:
- at a minimum, cover the replacement and/or rectification of customers’ property damaged as a result of work performed by you or your contractors or agents, and
- be maintained for the life of the RESA.
|
Accreditation Notice, Item 7 of the Schedule
|
Refer to your Accreditation Notice
|
|
Product liability insurance
|
ACPSs performing RESAs that involve installation of products at a site that is not your property
|
- You must hold and maintain product liability insurance of at least $5 million. If you cannot obtain product liability insurance, you must ensure that your contractorsa and agents hold and maintain insurance of at least $5 million.
- Product liability insurance must:
- cover all products that will be used in the RESA, and
- cover the replacement and rectification of third party property damaged as result of work performed by you or your contractors,
- be maintained for the life of the RESA.
|
Accreditation Notice, Item 7 of the Schedule
|
Refer to your Accreditation Notice
|
|
Ongoing insurance obligations
|
All ACPs with insurance requirements
|
- If insurance is required for your RESA, once accredited your ongoing obligations include:
- providing the Scheme Administrator with certificates of currency for your or your contractors’ or agents’ public liability and product liability insurances, within seven days of each renewal, reissue or change of policy, and
- maintaining a register of contractors that contains copies of their insurance.
|
Accreditation Notice, Item 7 of the Schedule
|
Refer to your Accreditation Notice
|
aThis includes any person or company the ACP is working with that is involved directly in the implementation of any aspect of the RESA
