Is public liability insurance mandatory in Australia?

Is public liability insurance mandatory in Australia, it is not legally mandatory for all businesses by federal law, but it is effectively mandatory for most artists, businesses and contractors because clients, councils and venues require it, and some licences require it. By law, there is no statute that says every business must have public liability, unlike workers compensation and CTP which are mandatory. However, if you are an artist exhibiting in gallery, selling at market, teaching workshops, or working on commission at client's premises, almost every gallery, art fair, market organiser and local council requires you to have public liability $10M to $20M before they allow you to trade, so you cannot operate without it, making it de facto mandatory. For certain occupations, it is legally mandatory, for example electricians, plumbers and builders must have public liability to hold licence, and events must have public liability to get council permit. For artists, NAVA and most councils require $20M public liability for public art commissions. Cost is $300 to $600 per year for $10M. Without public liability, if someone is injured by your artwork or at your stall, you are personally liable for compensation which can be $50K to $500K+. So while not mandatory by federal law for all, it is mandatory in practice for artists and small businesses that interact with public, and highly recommended for all to protect assets.