The LMA’s North American Casualty Reinsurance Business Panel has published LMA5710 Casualty Clash Excess of Loss Reinsurance Agreement.

Whilst this has been published as a clause, it is not intended to be attached to any agreements in its entirety. Instead, underwriters would take the language they need from it and add it to the clash agreement as they see fit.

This intention is identified by the sentence at the top of the ‘clause’: The following language is to be inserted into Casualty Excess of Loss Reinsurance Agreements.

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. Model documents are available on the Lloyd’s Wordings Repository (LWR).

Contact

Claudia Goodridge
Senior Executive, Technical Underwriting
claudia.goodridge@lmalloyds.com