Lloyd's Market Association Bulletin

LMA22-026-SD | 27 September 2022

Australia Terrorism and Cyclone Insurance Act Notice

Following amendment of the Australian Terrorism Insurance Act 2003 to make provision for the creation of a cyclone insurance pool, NMA2984 has been updated to reflect the revised title of the Act, now known as the Terrorism and Cyclone Insurance Act 2003.

All LMA model clauses are purely illustrative and are published and distributed for the guidance of Lloyd’s managing agents, brokers and other market participants. All contracting parties are free to agree to different conditions/amend the model clauses as they see fit; the LMA does not protect its intellectual property rights over model clauses. It is for underwriters to decide whether or not any contractual language is acceptable on any given risk.

NMA2984A - Australia Terrorism and Cyclone Insurance Act Notice

Steven Dennis
Senior Executive, Technical Underwriting