Property Valuers Profession Act, 2000 (Act No. 47 of 2000)14. Powers of council with regard coinsurance |
The council may—
| (a) | arrange insurance with an insurer who is registered or deemed to be registered under the Long Term Insurance Act, 1998 (Act No. 52 of 1998) or the Short Term Insurance Act, 1998 (Act No. 53 of 1998), for the indemnification of registered persons, against claims arising from the performance of their functions, |
| (b) | arrange with an insurer referred to in subsection (1) for the provision of insurance cover for— |
| (i) | any member, registrar or staff member of the council in respect of any bodily injury, disablement or death resulting from an accident occurring in the course of the performance of his or her functions in terms of this Act; |
| (ii) | the council against any loss, damage, risk or liability which it may suffer or incur, including cover in respect of any loss or damage caused to it by any person in its service and in respect of all property under the control of the council. |