S.L. 389.1 Art. 8Indemnity insurance.

(1) Every person who, not being a person who is employed with a private guard agency for the purpose of such employment, is required to be covered by an indemnity insurance in terms of article

21 of the Act, and shall be so covered throughout the currency of the insurance policy as shown hereunder:

(a) for loss or damage caused by the negligence of such person or any of his employees, to an amount of not less than two hundred and thirty-two thousand and nine hundred and thirty-seven euro and thirty-four cents (232,937.34); such amount shall be net of any excess under the said insurance policy;

(b) for any loss or damage caused by theft or any attempts thereof committed by such person or any of his employees, to an amount which is equivalent to the replacement value of the actual theft;

(c) for death or bodily injury resulting from the negligence of such person or his employee, to an amount of not less than two hundred and thirty-two thousand and nine hundred and thirty-seven euro and thirty-four cents (232,937.34).

(2) The provisions of subregulation (1) shall be without prejudice to any other cover for indemnity insurance which such person may be required to provide in the provision of private guard services.

(3) Unless special circumstances exist, an "insurance company" shall, for the purposes of the said article 21 of the Act, be deemed to be a company licensed under the provisions of the Insurance Business Act.