(1) A contract of home warranty insurance entered into on or after 1 May 1997 and before 1 July 2002 provides insurance cover in respect of loss only if a claim in respect of the loss is made to the insurer during the period of insurance.(2) A loss that becomes apparent in the last 6 months of the period of insurance has an extended claim period, which permits a claim in respect of the loss to be made within 6 months after the loss becomes apparent. There is no extended claim period for a loss that arises from non-completion of work.(3) For the purposes of this section and section 103BB, a loss becomes apparent when a beneficiary under the contract of insurance first becomes aware (or ought reasonably to have become aware) of the loss.(4) In this section and sections 103BB and 103BC:
loss means loss indemnified by a contract of home warranty insurance.
period of insurance means the period for which a contract of home warranty insurance provides cover.