Point to Point Transport (Taxis and Hire Vehicles) Regulation 2017
22 Vehicle insurance
(1) There must be maintained for each vehicle used to provide a passenger service 1 or more policies of insurance providing cover of at least $5,000,000 against liability in respect of damage to third-party property caused by or arising out of the use of a vehicle in respect of which the policy applies.(2) To avoid doubt, the policy holder may enter into an agreement or other arrangement with the driver requiring the driver to pay the whole or part of any excess payable on a claim, if the claim arises out of the driver’s conduct.(3) The policies must be issued by a corporation authorised under the Insurance Act 1973 of the Commonwealth to carry on insurance business.(4) A policy maintained under this clause is not required to provide cover for any period when a hire vehicle is not being used to provide a passenger service.(5) This safety standard is specified for the owner of the vehicle.(6) The following are responsible persons for the safety standard specified by this clause—(a) the provider of a passenger service (other than a taxi service),(b) the provider of a taxi service (other than an affiliated service), if the vehicle is used to provide the taxi service,(c) the facilitator of an affiliated service and the affiliated provider, if the vehicle is used to provide the affiliated service,(d) the provider of a booking service, if the vehicle is a hire vehicle or taxi used to provide a related booked service,(e) the holder of a taxi licence for the taxi, if the vehicle is a taxi.