Professional Indemnity Insurance

Registered industrial agents must maintain professional indemnity insurance meeting the prescribed requirements. The minimum coverage is $2 million per claim.

A principal industrial agent's insurance must also cover any subsidiary industrial agents registered under that principal industrial agent. 

Ongoing registration is subject to the industrial agent continuing to hold the requisite professional indemnity insurance.

Industrial agents must provide proof of their ongoing professional indemnity insurance to the Registrar annually, and within 7 days of any change to the professional indemnity insurance policy held by the industrial agent.