South Australian Consolidated Regulations South Australian Consolidated Regulations19—Limitations on insurers' liability (section 35)
(1) The following are
the only permissible limitations on the liability of the insurer under a
policy of insurance under Division 3 of Part 5 of the Act:
(a) a
limitation under which the insurer is not liable for the first $400 (or some
stipulated lesser amount) of each claim;
(b) a
limitation under which the total amount that the insurer is liable to pay in
relation to building work or the non-completion of building work by the
building work contractor in respect of a single dwelling is fixed at not less
than $80 000.
(2) A policy of
insurance under Division 3 of Part 5 of the Act—
(a) must
contain a clause allowing a claimant at least 90 days (from the date on which
the claimant becomes aware of the grounds for the claim) in which to make the
claim; and
(b) must
not confer any right on the insurer to avoid liability on the ground of
misrepresentation or non-disclosure on the part of the building work
contractor or on any similar ground.