29. INSURANCE

29.1 Each Party shall effect and maintain adequate insurance to cover its participation in the Centre and such insurance shall cover that Party's WorkCare (or equivalent) liabilities, third party liabilities, occupier's liability, comprehensive motor vehicle insurance and any other item of insurance deemed necessary by that Party to indemnify itself against any loss or damage which it may suffer or cause due to its participation in the Centre.

29.2 A Party may act as its own insurer provided it receives the prior written consent of all the other Parties.

29.3 Subject to clause 29.2, prior to the execution of this Agreement, each Party shall provide to the Director, as soon as possible after the Commencement Date, a Statement of Insurance stating the date of policy expiry and a Certificate of Currency. Annually thereafter each Party shall provide the Director with a Certificate of Currency of its relevant insurance policies within fourteen days of their renewal.