The Wordings Committee convened to progress clause development and review. The meeting opened with a reminder of the LMA Charter and competition law compliance.

Several wordings were reviewed including amendments to the Terrorism Insurance Physical Loss or Damage Wording (LMA3030A) and LMA5020C – a hybrid version of LMA5020A and LMA5020B

The potential impact of the Aercap decision on Aviation wordings was considered in addition to reports that some brokers were refusing the use Fair Processing Notices – a legal requirement under GDPR.

The Committee addressed market feedback on the Indian Collateralised Reinsurance Clauses (LMA5671/5672), noting the need for regulatory compliance and further engagement with brokers and Lloyd’s.

Progress on the “Spring Clean” project was reported, with committees reviewing and updating legacy clauses. The Archive and Withdrawal Process for the Lloyd’s Wordings Repository (LWR) was updated, with final comments requested before publication.