(1) A strata manager
must obtain and maintain professional indemnity insurance in relation to the
strata manager’s performance of functions as a strata manager of not
less than $1 000 000 for any one claim.
(2) This regulation
does not apply to a volunteer strata manager.
Note for this regulation:
Under
section 144(2), a volunteer strata manager is not required to maintain
professional indemnity insurance.