Final answer:
The Psychology Board of Australia requires registered psychologists to have a minimum of $2 million in Professional Indemnity Insurance.
Step-by-step explanation:
The minimum level of cover required by the Psychology Board of Australia for Professional Indemnity Insurance is $2 million. This is the minimum mandatory requirement for registered psychologists in Australia which ensures that they are covered in the event of a claim made against them related to their professional practice. It is essential for psychologists to maintain this level of insurance to comply with the regulations set forth by the board and for the protection of both the practitioners and their clients.