(1) Before starting to engage in legal practice in this jurisdiction, a law practice must obtain approved professional indemnity insurance.
(2) At all times while a law practice is engaged in legal practice in this jurisdiction, the law practice must maintain approved professional indemnity insurance.
(3) The insurance must cover civil liability of:
(a) the law practice in relation to its legal practice; and
(b) each Australian legal practitioner who is or was a principal or employee of the law practice in relation to its legal practice.