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Please make sure you view all key information in your search results before accepting a risk in the chosen territory.

Disclaimer: Crystal is provided for information purposes; it does not constitute solicitation of business and is not intended to be a substitute for appropriate professional advice. Information relating to Lloyd’s Brussels Subsidiary may be subject to regulatory approval.

Australia * Lloyd's
* Please see Authorisation for details of Lloyd's underwriters licensing status
Please see Authorisation for details of Lloyd's Brussels licensing status





Lloyd's underwriters are licensed to write insurance in or from Australia, except those classes detailed below:

  • Certain compulsory classes of insurance
  • Health insurance falling within the Private Health Insurance Act 2007 (which includes some medical expenses under an accident and health policy - please see class specific regulations for more detail)
  • Life insurance (see Section 3 of the Insurance Act 1973)
  • Stand-alone funeral expenses (such business is provided for by Friendly Societies, which are subject to special licensing arrangements. Lloyd's underwriters are, however, permitted to underwrite funeral expenses business by way of additional cover or as a type of extension under a permitted insurance policy.)
  • Lenders' Mortgage Insurance.

Lloyd's is authorised to carry on general insurance in Australia under the Insurance Act 1973 (Cth). Please note important exceptions below under ‘Class specific regulations’.

Also note important Lloyd's requirements applicable to underwriters wishing to conduct retail insurance business in the 'More Detail' section below.


Lloyd's underwriters are licensed to write reinsurance in or from Australia, except health reinsurance falling within the Private Health Insurance Act 2007 and life reinsurance.

Last updated: 12 Sep 2018

Definition of risk location


An Australian risk is defined as:

(i) A contract for the insurance of real property, fixtures or buildings in Australia; or
(ii) A contract for the insurance of any other property or risk if the insured is:
        a. A body corporate that has a registered office or principle place of business in Australia; or
        b. A person, other than a body corporate, that has a residential address or place of business in Australia; or
(iii) A contract of reinsurance and:
        a. The registered office of the ceding company that has reinsured with Lloyd’s underwriters is in Australia; or
        b. The ceding company that has reinsured with Lloyd’s underwriters is not incorporated in Australia but the contract is entered with a branch office in Australia of that company.

For the purposes of the Lloyd's Australian Trust Funds, an Australian risk will only be required to be reserved for in the Lloyd's Australian Trust Funds where the currency in which the contract of insurance or reinsurance, as defined above, is expressed and the premium is payable in Australian Dollars. 

If the currency in which the contract of insurance or reinsurance, as defined above, is not expressed in Australian Dollars, other regulatory obligations will still apply but there would be no requirement to fund the risk in the Lloyd's Australian Trust Funds.


Last updated: 06 Dec 2017

The examples detailed below demonstrate the practical application of the Australian risk definition to help in the assessment of the risk:

  • Unless a specific location is shown, livestock or bloodstock and marine pleasure craft risks are treated as moveable property and the trust fund status is determined on the registered office, principal place of business or address of the insured.
  • Personal accident risks are treated as non-property risks. The trust fund status is determined on the registered office, principal place of business, or address of the insured (and not the location of the person to whom insurance relates) at the time the policy was taken out.
  • Where a specific permanent static location is shown (ie fixed platforms or dock/airport equipment) marine and aviation risks are deemed to be property and trust fund status determined on the location of the property.
  • All other marine and aviation risks (including goods in transit – whether international or within Australia) have trust fund status determined on the registered office, principal place of business, or address of the insured.
  • Fixed property risks that have a global exposure must have the Australian located elements identified and quantified separately from property located elsewhere. Regardless of whether or not it is valued in Australian dollars, the property located outside Australia is not subject to trust fund reserving.
  • Trust fund status in respect of liability and political risks are determined on the registered office, principal place of business, or address of the insured, regardless of any worldwide exposure
  • Reinsurance of the Australian office of a non-Australian insurer is an Australian policy as defined in the Lloyd's Australia Trust Fund  (LAusTF) where the contract is made with or through the Australian branch office, regardless of the domicile in another country of the ultimate risk bearer.
Last updated: 06 Dec 2017

Definition of Australia

Unless otherwise stated, any reference to 'Australia' includes Australia’s territories.


New South Wales, Queensland, South Australia, Tasmania, Victoria, Western Australia.


Australian Capital Territory, Jervis Bay Territory (within New South Wales mainland), Northern Territory.

Overseas Territories

Norfolk Island, Christmas Island, Cocos (Keeling) Islands, Lord Howe Island, Coral Sea Islands, Ashmore and Cartier Islands, Australian Antarctic Territory, and the Heard and McDonald Islands.

For general guidance on identifying the location of a risk please refer to the risk locator.

Last updated: 12 Sep 2018

Compulsory classes


Certain insurances in Australia are compulsory. The major compulsory classes are as follows:

  • Aircraft passenger liability for death or injury.

Each aircraft carrier who carries passengers for hire or reward to or from Australia, or within Australia, is required to have in place passenger liability insurance which ensures that compensation will be paid in respect of death or personal injury suffered by passengers on the aircraft.

The Civil Aviation Safety Authority (CASA) is responsible for administering and enforcing the Commonwealth and State compulsory insurance schemes – refer to Part IVA of the Commonwealth Civil Aviation (Carriers’ Liability) Act 1959; Civil Aviation (Carriers’ Liability) Regulations and complementary State legislation (together referred to as “the legislation”).

Carriers are required to have satisfactory insurance and a current certificate of compliance from CASA to be able to carry passengers for hire or rewards.

  • Builders warranty (New South Wales, South Australia, Tasmania, Victoria and Western Australia only).
  • Lenders Mortgage Insurance - an additional requirement on LMIs beyond mere APRA authorisation is that they cannot write other classes of business.  Like many countries, Australia requires LMIs to be mono-line due to the cyclical high claims situation they may face and the potential for this to impact on other lines of business.
  • Liability for death of or bodily injury to persons caused by or arising out of the use of a vehicle (coverages and procedures vary from state to state).
  • Liability for maritime oil pollution.
  • Medical malpractice (New South Wales only).
  • Professional indemnity insurance is effectively compulsory for all recognised professions as either a statutory requirement under federal or state law.
  • Satellite launch operators' liability
  • Workers’ compensation (coverages and procedures vary from state to state)

Neither workers' compensation nor motor third party bodily injury and death liability can be written by the general insurance industry. The laws of states and territories in Australia provide that these compulsory classes may only be transacted by approved insurers (Lloyd's is not one of these approved insurers).

Last updated: 06 Dec 2017


With effect from July 2008, amendments to the Insurance Act made by Financial Sector Legislation Amendment (Discretionary Mutual Funds and Direct Offshore Foreign Insurers) Act 2007, mean that many foreign insurers that did not need to be authorised under the Insurance Act to carry on insurance business in Australia would need to be. This is unless they fall under one of the relevant Insurance Act exemptions.

A Lloyd’s underwriter should not enter into an arrangement with an insurer which is not authorised under the Insurance Act 1973 (Cth) to conduct insurance business in Australia and is not otherwise exempt under the new exemptions.

Please see here for a full list of insurers who are authorised by the Australian Prudential Regulation Authority (APRA) to conduct business in Australia.

Lloyd's is unaffected by the changes and is authorised to carry on insurance business under the Insurance Act.  A summary of how unauthorised foreign insurers are affected can be found below.

Last updated: 06 Dec 2017


Coverholder business


Lloyd's requirements for a coverholder carrying on Australian business

Binding authority held by an Australian coverholder

As Lloyd's is authorised to carry on insurance business in Australia under the Insurance Act, a Lloyd's underwriter can grant a binding authority permitting the writing of insurance and reinsurance to a coverholder located in this country.

Lloyd's Delegated Authorities department must approve a coverholder prior to its appointment to bind business on behalf of Lloyd's underwriters. For further information, access the Lloyd's Delegated Authority web pages.

Binding authority held by a coverholder outside of Australia 

Coverholders proposing to transact business from a territory other than that in which it is itself located will normally need Lloyd’s territorial extension approval.

An insurance intermediary established outside Australia may accept business from an insured or reinsured domiciled in Australia, but is not permitted to deal directly with an Australian insured in relation to retail insurance contracts, as defined by the Corporations Act 2001.

Lloyd’s may therefore extend the approval of a non-Australian coverholder to include Australia. As stated above, this will be on condition that the coverholder does not deal directly with Australian clients for defined ‘retail’ insurance contracts. A coverholder located outside of Australia will need to provide a copy of the policy wording they intend using in Australia as part of their application. They should ensure they have familiarised themselves with wording requirements prior to submission (see insurance documentation section below).

A non-resident coverholder may deal directly with insureds when handling reinsurance or commercial (‘wholesale’ business is defined as anything which is not retail) insurance business. However, they will need to ensure that all relevant Australian taxes are paid.

A non-resident coverholder applying for an extension in its approval to include Australia must provide Lloyd’s with the following: 

  • Details of the products or classes that it will handle from Australia.
  • Examples of the policy wordings it will use. 
  • Details of how local taxes and charges will be paid.

A binding authority held by a non-resident coverholder under which it can accept risks from Australia should include LSW649F. This endorsement sets out certain duties that the coverholder must undertake in order to demonstrate compliance with Australian laws, regulations and fiscal requirements on behalf of Lloyd’s underwriters.

The Lloyd’s coverholder must ensure that an Australian risk is placed in accordance with Lloyd’s licensing position in Australia and that all relevant taxes and other applicable charges are paid.

For further information please see Market Bulletin Y4125 Coverholder Approval: International Requirements.

Reinsurance business

There are no legal restrictions. Lloyd’s normal rules apply; all business must be placed with underwriters by an accredited Lloyd’s broker, and Lloyd’s must approve any coverholder proposing to accept reinsurance on behalf of Lloyd’s underwriters under a binding authority.

Last updated: 15 Dec 2017

General Insurance Code of Practice - Coverholder requirements

Lloyd’s first adopted the Insurance Council of Australia General Insurance Code of Practice on 22 January 2007. Lloyd’s adopted the new 2014 Code on 1 July 2015. The terms of the Australian endorsement to the Binding Authority Agreement ensure that all binding authority agreements entered into (either at inception or renewal) by Australian domiciled coverholders are Code compliant from the date of entry into that binder. This is in respect of all Code applicable policies written under the binder, including all claims (existing at the inception/renewal date of the first Lloyd’s binder) whether handled or adjusted by the coverholder or an Australian domiciled claims administrator. 

The Code does not apply to business written by coverholders located outside Australia or open market policies. However, the policy needs to stipulate that it is not compliant with the Code (see LMA5137).

For more information about the Code see the 'Reference' section under the sub-heading 'Insurance law and regulation'.

Last updated: 12 Sep 2018

Intermediary regulation


Chapter 7 of the Corporations Act 2001 (Cth) (FSRA) requires that those providing financial services either obtain a licence to do so or show that they fall under one of the exemptions that apply, for example reinsurance is not considered a financial product and the FSRA provisions do not apply.

The FSRA rules apply to all types of general insurance policies provided in Australia and may affect intermediaries operating inside or outside Australia. For detailed information on this legislation please refine your search to include the ‘Insurance Law and Regulation’ section.

A search for licensed intermediaries can be found here.

Furthermore, as there are intricate rules regarding writing retail insurance in Australia in addition to licensing provisions, Lloyd’s requires that business falling within the definition of ‘retail’ insurance is written through a licensed Australian domiciled coverholder.

The definition applies regardless of whether the policy is written through a broker or directly with the client.

Please consult the document below when determining whether a client should be considered as a 'retail' client.

Australia Identification of Retail Client Business February 2013

Last updated: 06 Dec 2017


Insurance documents

Wordings summary

A useful summary of where certain wordings may or may not be used can be found as appendix 4 in Market BulletinY4266 (126KB, pdf) 
Last updated: 12 Sep 2018

Market Reform contract guidance

This guidance on completing a Market Reform Contract (MRC) focuses on tax and regulatory checks.

It provides advice on completion of the Fiscal and Regulatory section, plus completion of headings in other sections relevant to fiscal and regulatory compliance.

This guidance relates to insurance (ie not reinsurance).
Last updated: 06 Dec 2017

Language of contract

Policies and other insurance documents in Australia are typically required in English.

In certain cases, where the targeted insureds speak a different language, a foreign language can be used, subject to appropriate procedures and qualifications being put in place.
Last updated: 06 Dec 2017

Choice of law

To meet contract certainty requirements, the contract should contain a choice of law clause.

In the case of commercial/wholesale risks, the underwriter can agree with the insured the country’s law that will be specified by the choice of law clause. It is not mandatory for the contract to be subject to the laws of the Commonwealth of Australia. Nevertheless Lloyd’s strongly recommends that  the law of choice in Australian commercial/wholesale policies should be the laws of the Commonwealth of Australia.

In the case of personal/retail risks, it is a Lloyd’s requirement that the laws of the Commonwealth of Australia must be the law of choice in Australian retail policies.

Last updated: 06 Dec 2017


The contract should include a clause recording the jurisdiction that will apply to the contract and the underwriter can agree this jurisdiction with the insured. However this designation may not be effective in the event of a dispute, and it is strongly recommended by Lloyd’s that commercial/wholesale policies be subject to Australian jurisdiction.

It is not mandatory for the contract to be subject to Australian jurisdiction, although this is likely to be the preferred option of Australian insureds. 
Last updated: 06 Dec 2017

Service of suit


It is mandatory to include a service of suit clause.

Lloyd's General Representative is authorised to accept service of suit of legal process on behalf of Lloyd's underwriters in their capacity as registered insurers, and the Lloyd’s Australia office can be specified as the location for service of suit. However, underwriters are free to specify alternate local arrangements (a local law firm, broker or coverholder).
Market Bulletin Y4266 provides guidance on appropriate service of suit wordings for both insurance and reinsurance contracts. Please review this bulletin for further information regarding service of suit wordings.


There are no requirements for reinsurance business.

However, Lloyd's recommends that a service of suit clause is included in reinsurance contracts.

Market Bulletin Y4266 provides guidance on appropriate service of suit wordings for both insurance and reinsurance contracts. Please review this bulletin for further information regarding service of suit wordings.
Last updated: 06 Dec 2017




Effective from 14 March 2016, the address of the Lloyd's General Representative in Australia will be:

Christopher Mackinnon
Lloyd's General Representative in Australia
Lloyd's Australia Ltd
Level 9
1 O'Connell Street
NSW 2000

Tel: + 61 (0)2 8298 0700
Fax: +61 (0)2 8298 0788


Policy wordings should not include the name and email address for the General Representative

Last updated: 02 Nov 2018