82Minimum amount of cover

82 Minimum amount of cover

82 Minimum amount of cover

(1) Section 102(3A) extends to—

(a) a contract of insurance entered into before the commencement of that subsection (despite any provision of the policy), and

(b) a claim under any such contract of insurance, and

(c) proceedings on such a claim (including proceedings commenced but not finally determined before the commencement of that subsection).

(2) Despite subclause (1), section 102(3A) does not extend to or otherwise affect—

(a) a claim that was paid in full before the commencement of that subsection, or

(b) any agreement made before the commencement of that subsection to settle a claim, or

(c) a decision of an insurer made before the commencement of that subsection that cannot be the subject of appeal because of clause 65 of the Home Building Regulation 2004, or

(d) the amount that a person is entitled to recover under a contract of insurance where that amount was paid before the commencement of that subsection under the indemnity provided by Division 2 (Insurance claims indemnified by State) of Part 6A of this Act, or

(e) any final determination of legal proceedings made by a court or tribunal before the commencement of that subsection.

(3) This clause applies only to contracts of insurance entered into on or after 1 May 1997.