You’ll find the relevant statement here – it’s the second paragraph under the Headline October 2011 Changes:
In general, home owners must lodge a claim for defective or incomplete building work within the insured period. If the work is defective, the home owner must lodge the claim within 6 months of becoming aware of the problem.
In your case, that would mean lodging a claim within six months of the inspection report being delivered. This is a NSW regulation.
JimmyT