Lloyd’s has been insuring Australian risks for over 150 years and is licensed to write non-life insurance and reinsurance business under the Australian Insurance Act 1973. For more details please visit the Australian Prudential Regulation Authority (APRA) website.
Lloyd's is not an insurance company but a market and can only accept risks and issue policies via insurance brokers.
Lloyd’s Australia Ltd based in Sydney was opened in 1998. The office’s prime functions are to represent the Lloyd’s market at all levels, promote and protect the Lloyd’s brand and ensure all Lloyd’s business complies with local legislative requirements and licensing stipulations.
Other functions include approving new coverholder applications, territorial and class of business extensions, providing market updates and legislative guidance to Lloyd’s syndicates and handling disputes. Further information is available please see Lloyd’s market intelligence reports on our homepage or please feel free to contact us.
General representative Chris Mackinnon introduces Lloyd's in Australia
General Insurance Code of practice
Lloyd’s Australia subscribes to the General Insurance Code of Practice. The objectives of the Code are:a. to commit us to high standards of service;
b. to promote better, more informed relations between us and you;
c. to maintain and promote trust and confidence in the general insurance industry;
d. to provide fair and effective mechanisms for the resolution of Complaints and disputes between us and you; and
e. to promote continuous improvement of the general insurance industry through education and training.
Insurers who subscribe to the Code must comply with the 2014 Code from 30 June 2015. For Lloyd’s business, the Code only applies to Australian Coverholders and Third Party Claim Administrators.