Queensland Consolidated Acts

LAND TITLE ACT 1994 - SECT 96D

96D Insurance requirements

(1) A policy of insurance for the full replacement value of a structure required to be taken out under this division—

(a) must cover—

(i) damage; and

(ii) costs incidental to the reinstatement or replacement of the structure, including the cost of taking away debris and the fees of engineers and other professional advisors; and

(b) must provide for the reinstatement of the structure to its condition when new.

(2) A policy of public risk insurance of a structure required to be taken out under this division must cover amounts for—

(a) compensation for death, illness and bodily injury; and

(b) damage to property.

(3) In this section—

"damage" , for coverage under insurance required to be put in place under this division, means—

(a) earthquake, explosion, fire, lightning, storm, tempest and water damage; and

(b) glass breakage; and

(c) damage from impact, malicious act and riot.