Victorian Consolidated Legislation

Owners Corporations Act 2006 - SECT 60

Public liability insurance

60. Public liability insurance



(1) An owners corporation must take out public liability insurance for the
common property in accordance with this section.

(2) The public liability insurance required under subsection (1) is insurance
for any liability of the owners corporation to pay compensation in respect of-

   (a)  any bodily injury to or death or illness of a person; and





   (b)  any damage to or loss of property-

which is sustained as a result of an occurrence or happening in connection
with the common property.

(3) The owners corporation must ensure that, in the insurance which the owners
corporation has under subsection (2), the limit of liability is a minimum of
$10 000 000, or if another amount is prescribed, that other amount, in any one
claim and in the aggregate during any one period of insurance.