198Period of cover under approved insurance policy

198 Period of cover under approved insurance policy (1) This section applies in relation to building work if: (a) the building work, when complete, is covered by an approved insurance policy against non-compliance with the Regulations; and (b) an occupancy permit or certificate of substantial compliance is granted for the work after the commencement. (2) A reference in the approved insurance policy to the grant of an occupancy permit is taken to include a reference to the grant of a certificate of substantial compliance.

Building Act 1993 138 (3) The entitlement to make a claim in relation to the cover provided for the building work takes effect, in accordance with the approved insurance policy, on the grant of the occupancy permit or certificate of substantial compliance. (4) However, despite anything to the contrary specified in the approved insurance policy, the period of cover for the building work commences on the earlier of the following: (a) the day on which the initial building permit granted for the work ceased to be in force or, if renewed, would have ceased to be in force if not for the renewal; (b) the day on which all the work essential to the class of the building to which the policy relates had been completed, as determined in writing by a building certifier. (5) The approved insurance policy does not cover any building work specified in the initial building permit granted for the work that had not been completed before the day mentioned in subsection (4)(a) or (b), as relevant. (6) In this section: approved insurance policy means an approved policy of insurance issued before 1 January 2013 under section 61 as in force before that date.