38Approved insurers

#### 38 Approved insurers 38 Approved insurers > > (1) A Lloyd’s underwriter authorised to carry on insurance business, or exempted from authorisation, under the [Insurance Act 1973](http://www.legislation.gov.au/) of the Commonwealth is an approved insurer for the purposes of paragraph (b) of the definition of approved insurer in section 4(1) of the Act. > > > (2) In this clause— > > > > Lloyd’s underwriter has the same meaning as in the [Insurance Act 1973](http://www.legislation.gov.au/) of the Commonwealth.