Insurables — Australian business risk, sourced and dated

Conveyancers: professional indemnity requirements in Tasmania

Cover for legal liability arising from professional advice or services, written on a claims-made basis.

Data as at

Verified for Tasmania

  • Licence liability condition: Yes, and Tasmania attaches the sharpest consequence of any jurisdiction on this site. Section 13 requires all conveyancers to be covered by an approved policy of professional indemnity insurance to a prescribed minimum of $2 million — and if a conveyancer's insurance lapses or is cancelled, their licence is DEEMED SUSPENDED. No decision, no hearing, no notice: the licence simply stops. TAS · effective 2005-01-01 Tasmania Government · 2026-08-25
  • Licence evidence required: Evidence annually. Because suspension is automatic on lapse, the practical obligation is to never let the policy gap, not merely to renew it eventually. TAS · effective 2005-01-01 Tasmania Government · 2026-08-25
  • Licensing body: The Tasmanian conveyancing regulator, under the Conveyancing Act 2004 (Tas). TAS · effective 2005-01-01 Tasmania Government · 2026-08-25

What contracts commonly ask for

Principals and head contractors set their own insurance requirements, and those are frequently higher than a licence condition. The requirement that binds is the higher of the two, and both have to be read from the actual document.

What this cover costs

This site publishes no cost benchmark for this cover. A benchmark needs a real sample of documents, and none is published until the sample is large enough to compute a median honestly. A benchmark from a handful of policies is a guess with a decimal point.

Sources