sch.44-sec.7Effect of insurance

### sch.44-sec.7 Effect of insurance This section applies if— an applicant applies for a grant of financial assistance under the scheme for carrying out the following eligible works to an eligible home— repair and retrofit works; demolition and replacement works; and damage to the eligible home was caused by any of the following during a disaster event mentioned in section 4 (1) (c) — inundation by floodwaters; storms; stormwater runoff; rainwater damage; and a policy of insurance over the eligible home may cover all or some of the damage (the insurance ). The applicant is not eligible to receive financial assistance under the scheme until— a claim is made under the policy of insurance for the damage; and the insurer either— accepts liability to pay an amount for the damage or to pay for repairing the damage; or rejects the claim. If the insurance covers the full cost of the eligible works, the applicant is not eligible to receive financial assistance under the scheme. However, subsections (2) and (3) apply to an insurance claim only to the extent the insurance claim relates to damage that would be addressed by the eligible works for which the financial assistance is sought. If the insurance covers part of the cost of the eligible works, the financial assistance the applicant may receive under the scheme is limited to the extent to which the insurance does not cover the cost of the eligible works. If the cost of the eligible works is $40,000 and the insurer is to pay $8,000 in relation to the eligible works, the amount of financial assistance the applicant may receive under the scheme for the eligible works is limited to $32,000. For subsections (3) and (5) , the extent to which the insurance covers the cost of eligible works is the extent to which— the insurer accepts liability to pay for the eligible works; or under the policy of insurance, the insurer pays the policy holder an amount for the damage. For subsection (6) (b) , if the insurer gave the policy holder an itemised breakdown of what the payment relates to, the amount of the payment does not include that part of the payment that is for something other than the eligible works. If the insurer pays the policy holder an amount of $15,000 for the damage and, under the itemised breakdown of the payment, $5,000 of the payment is for replacement of a damaged rain water tank and fence, the amount of the payment for subsection (6) (b) is $10,000. In this section— insurer means the insurer under the policy of insurance mentioned in subsection (1) (c) . sch 44 s 7 ins 2022 SL No. 105 s 5 amd 2022 SL No. 176 s 8 ; 2023 SL No. 184 s 8 (sch.44-sec.7-ssec.1) This section applies if— an applicant applies for a grant of financial assistance under the scheme for carrying out the following eligible works to an eligible home— repair and retrofit works; demolition and replacement works; and damage to the eligible home was caused by any of the following during a disaster event mentioned in section 4 (1) (c) — inundation by floodwaters; storms; stormwater runoff; rainwater damage; and a policy of insurance over the eligible home may cover all or some of the damage (the insurance ). (sch.44-sec.7-ssec.2) The applicant is not eligible to receive financial assistance under the scheme until— a claim is made under the policy of insurance for the damage; and the insurer either— accepts liability to pay an amount for the damage or to pay for repairing the damage; or rejects the claim. (sch.44-sec.7-ssec.3) If the insurance covers the full cost of the eligible works, the applicant is not eligible to receive financial assistance under the scheme. (sch.44-sec.7-ssec.4) However, subsections (2) and (3) apply to an insurance claim only to the extent the insurance claim relates to damage that would be addressed by the eligible works for which the financial assistance is sought. (sch.44-sec.7-ssec.5) If the insurance covers part of the cost of the eligible works, the financial assistance the applicant may receive under the scheme is limited to the extent to which the insurance does not cover the cost of the eligible works. If the cost of the eligible works is $40,000 and the insurer is to pay $8,000 in relation to the eligible works, the amount of financial assistance the applicant may receive under the scheme for the eligible works is limited to $32,000. (sch.44-sec.7-ssec.6) For subsections (3) and (5) , the extent to which the insurance covers the cost of eligible works is the extent to which— the insurer accepts liability to pay for the eligible works; or under the policy of insurance, the insurer pays the policy holder an amount for the damage. (sch.44-sec.7-ssec.7) For subsection (6) (b) , if the insurer gave the policy holder an itemised breakdown of what the payment relates to, the amount of the payment does not include that part of the payment that is for something other than the eligible works. If the insurer pays the policy holder an amount of $15,000 for the damage and, under the itemised breakdown of the payment, $5,000 of the payment is for replacement of a damaged rain water tank and fence, the amount of the payment for subsection (6) (b) is $10,000. (sch.44-sec.7-ssec.8) In this section— insurer means the insurer under the policy of insurance mentioned in subsection (1) (c) . - (a) an applicant applies for a grant of financial assistance under the scheme for carrying out the following eligible works to an eligible home— (i) repair and retrofit works; (ii) demolition and replacement works; and - (i) repair and retrofit works; - (ii) demolition and replacement works; and - (b) damage to the eligible home was caused by any of the following during a disaster event mentioned in section 4 (1) (c) — (i) inundation by floodwaters; (ii) storms; (iii) stormwater runoff; (iv) rainwater damage; and - (i) inundation by floodwaters; - (ii) storms; - (iii) stormwater runoff; - (iv) rainwater damage; and - (c) a policy of insurance over the eligible home may cover all or some of the damage (the insurance ). - (i) repair and retrofit works; - (ii) demolition and replacement works; and - (i) inundation by floodwaters; - (ii) storms; - (iii) stormwater runoff; - (iv) rainwater damage; and - (a) a claim is made under the policy of insurance for the damage; and - (b) the insurer either— (i) accepts liability to pay an amount for the damage or to pay for repairing the damage; or (ii) rejects the claim. - (i) accepts liability to pay an amount for the damage or to pay for repairing the damage; or - (ii) rejects the claim. - (i) accepts liability to pay an amount for the damage or to pay for repairing the damage; or - (ii) rejects the claim. - (a) the insurer accepts liability to pay for the eligible works; or - (b) under the policy of insurance, the insurer pays the policy holder an amount for the damage.