Queensland Subordinate Legislation as Made

BODY CORPORATE AND COMMUNITY MANAGEMENT (STANDARD MODULE) REGULATION 2020 - REG 206

206 Public risk insurance

(1) The body corporate must maintain public risk insurance of the common property and relevant assets.

(2) The body corporate is not required to maintain public risk insurance of any other property.

Example of other property—

a lot owned by a person other than the body corporate

(3) The insurance must provide coverage—

(a) for amounts the body corporate becomes liable to pay for—

(i) compensation for death, illness and bodily injury; and

(ii) damage to property; and

(b) to the extent of—

(i) at least $10m for a single event; and

(ii) at least $10m in a single period of insurance.

(4) In this section—

"relevant assets" means body corporate assets for which it is practicable to maintain public risk insurance.