The LMA Contingency Committee has published two new Event Cancellation Policies, LMA3186 (profit and expenses) and LMA3187 (expenses only). Each model policy is suitable for individual consumer and SME business.

LMA3186 and LMA3187 can be used in conjunction with LMA9207 “Consumer Event Cancellation Policy Schedule”. This document must be amended to reflect the relevant information about the insured, along with the correct policy and coverage details.

The LMA has also published two model IPIDs, LMA3186(IPID) and LMA3187(IPID). Each model IPID can be used in conjunction with the corresponding model policy wording.

LMA3186, LMA3187 and all accompanying documents are available via the Lloyd’s Wording Repository (LWR).

All LMA model documents 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 documents as they see fit; the LMA does not protect its intellectual property rights over model documents. It is for underwriters to decide whether or not any contractual language is acceptable on any given risk.

Toby Clark
Executive, Technical Underwriting
toby.clark@lmalloyds.com