New South Wales Consolidated Regulations

HOME BUILDING REGULATION 2014 - REG 62ZX

62ZX Time within which provider is taken to have accepted claim

(1) An alternative indemnity contract must contain (and is taken to contain) a provision to the effect that the provider of the alternative indemnity product is taken to have accepted liability for a claim under the contract if written notice of the decision of the provider in relation to the claim is not given to the beneficiary under the alternative indemnity contract within--

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

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

(2) This clause does not apply to a claim that relates to a loss that is not required by Part 6 of the Act to be covered under an insurance contract or alternative indemnity contract.