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  • COB 5.4 COB 5.4 Professional Indemnity Insurance Cover

    • COB 5.4.1

      A Trust Service Provider must maintain professional indemnity insurance cover appropriate to the nature and size of the Trust Service Provider's business.

      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

    • COB 5.4.2

      A Trust Service Provider must:

      (a) provide the DFSA with a copy of its professional indemnity insurance cover; and
      (b) notify the DFSA of any changes to the cover including termination and renewal.
      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

    • COB 5.4.3

      A Trust Service Provider must provide the DFSA on a yearly basis, with the details of the arrangements in force together with evidence of the cover. Any claims in excess of $10,000 or changes to the arrangements previously notified to the DFSA under this Rule must be notified to the DFSA as they arise.

      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]