103BCLimits on claims

#### 103BC Limits on claims 103BC Limits on claims > > (1) Despite any other provision of this Act, a contract of insurance entered into under this Part before, on or after 1 July 2010 does not in any circumstances provide insurance cover in respect of loss unless a claim in respect of the loss is made to the insurer within 10 years after the work insured was completed. > > > > Note. > > > > Section 3B provides for the date of completion of residential building work. > > > (2) This section does not operate to extend any period of insurance. > > > (3) Except as provided by subsection (5), a contract of insurance under this Part does not in any circumstances provide cover in respect of a loss arising from a breach of statutory warranty if a claim has already been made to and paid by the insurer or another insurer (whether under the same or a different contract of insurance) or a provider of cover under Part 6B in respect of that breach to the person or a predecessor in title of the person making the claim. > > > (4) Except as provided by subsection (5), a mortgagee in possession of a lot on which there is building work that is subject to a contract of insurance under this Part is not entitled to the benefit of that contract. > > > (5) A contract of insurance may provide cover in the circumstances specified in subsection (3) or (4) if the contract expressly provides for cover in the circumstances specified in the subsection. > > **s 103BC:** Ins 2011 No 52, Sch 1 \[27\]. Am 2014 No 24, Sch 1 \[103\]; 2017 No 28, Sch 1 \[38\] \[39\].