Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(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.