(1) Subject to this section, a person who suffers loss because of an act or omission of a controller is entitled to be paid reasonable compensation by the Territory in relation to the loss.
(2) Compensation is not payable to a person in relation to a loss to the extent—
(a) of any amount recovered or recoverable by the person under a policy of insurance; or
(b) that the conduct of the person contributed to the loss.
(3) Compensation is not payable to a person in relation to a loss if the loss would have arisen despite the act or omission of the controller.