COB 5.4 COB 5.4 Professional Indemnity Insurance Cover
Trust Service Providermust maintain professional indemnity insurance cover appropriate to the nature and size of the Trust Service Provider'sbusiness.
Trust Service Providermust:(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.
Trust Service Providermust 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.