New South Wales Consolidated Regulations

HOME BUILDING REGULATION 2014 - REG 39

39 Time within which insurer taken to have accepted claim

(1) An insurance contract must contain (and is taken to contain) a provision to the effect that an insurer is taken to have accepted liability for an insurance claim if written notice of the insurer's decision in relation to the claim is not given to the beneficiary within--

(a) 90 days of the lodging of the claim with the insurer, or

(b) such further time as may be agreed between the beneficiary and the insurer.

(1A) This clause does not apply to an insurance claim that relates to a loss that is not required by Part 6 of the Act to be covered by a contract of insurance.

(2) This clause does not apply to insurance contracts entered into before 1 September 2005.