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Delphic
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I would suggest speaking to a broker to get specific advice, that’s why we exist. A good broker should review your terms with your contractors and give you advice for risk mitigation strategies and correct levels of insurance.

In very broad terms, you will still have a vicarious liability for the work that they undertake irrespective of only them doing the work and them having their own insurance in place. Different policies have different language around the coverage they provide, direct policies through companies such as NRMA being some of the worst as they can get away with complex wordings as they don’t have the advisor community telling them off.