(1)  Before commencing to engage in legal practice in this jurisdiction, a law practice must obtain professional indemnity insurance as prescribed by the rules made under this Part.

(2)  At all times while a law practice is engaged in legal practice in this jurisdiction, the law practice must maintain professional indemnity insurance as prescribed by the rules made under this Part.

(3)  The insurance must cover civil liability of –

(a) the law practice; and

(b) each person who is or was a principal or an employee of the law practice during the period that the person is or was a principal or employee of the law practice –

in connection with the practice's legal practice.