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Posted 31 January 2013
Category: Professional Indemnity Insurance
The Property, Stock and Business Agents Amendment (Professional Indemnity Insurance) Regulation 2012 commenced on 1 January 2013. It amends the Property, Stock and Business Agents Regulation 2003, by inserting a clause 13B requiring that:
We have some concerns in relation to these requirements. In particular:
There are other risks which would appropriately be covered, such as liability for breach of fiduciary duties, conversion and detinue.
***The information contained in this article is general information only and not legal advice. The currency, accuracy and completeness of this article (and its contents) should be checked by obtaining independent legal advice before you take any action or otherwise rely upon its contents in any way.