Australia:
The six year period commences from the date on which the cause of action first accrues. Generally in a standard action for breach of contract, the cause of action is held to accrue at the time of the breach. Exactly what constitutes a breach of contract is a question of fact to be determined in light of all the circumstances including the proper construction of the contract. There is no Australian authority in relation to limitation periods in reinsurance although our courts are likely to follow the current English authority in Halvanon v Companhia Seguros where it was held that a cause of action accrues when the liability of the reinsured is ascertained. This may be determined by agreement, judgment or award. If a remedy is sought under trade practices legislation (for example for misleading and deceptive conduct), section 82(2) of the federal Trade Practices Act 1974 imposes a six year limitation period, running from the date when the actual loss or damage is sustained.