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Specification of minimum levels of indemnity
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43. (1) The registration body shall, by notice in Iris Oifigiúil, with the prior consent of the Minister, specify, having regard to the criteria set out in subsection (3) the minimum level of indemnity required to be held by a provider of building works.
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(2) The registration body shall, as regards the minimum levels of indemnity specified in a notice referred to in subsection (1), specify in that notice a date or the occurrence of an event on and from which such levels of indemnity are to take effect and different dates or events may be specified for different divisions.
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(3) The criteria referred to in subsection (1) in respect of a division are—
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(a) the level of risk generally inherent in the provision of the category of works to which the division relates,
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(b) the level of risk, from any act or omission of a registered person in the division or an employee of the registered person, to the health, safety or welfare of any person to whom a duty of care is owed by registered persons who provide works to which the division relates,
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(c) the risks identified by providers of indemnity as particularly associated with the provision of works to which the division relates, and
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(d) the level of awards or settlements made in proceedings where the cause of action arose out of an alleged breach of duty involving a registered person who provides works to which the division relates.
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(4) In this section “indemnity” means a policy of public liability insurance and a policy of employer’s liability insurance against losses arising from claims in respect of civil liability incurred by a provider of works in respect of any act or omission of that provider of building works or employee of that provider of building works arising from the provision by either of them of building works.
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