Lloyd's Market Association Bulletin
LMA24-040-KC| 06 September 2024
Guidance on the New Directors and Officers Committee Risk Codes
Ahead of the introduction of the New Directors and Officers Risk Codes in January 2025, the LMA Directors and Officers Committee has provided guidance on the use of each risk code in the table below.
Current guidance for ‘USA’ is for any US-domiciled insured, or any insured with a US ADR2, ADR3 or full-share listing.
|
Risk code
|
Code
|
FI/Commercial
|
Insured structure
|
Coverage
|
USA exposure
|
|
DD
|
New
|
Comm
|
Public
|
A / A-DIC
|
USA
|
|
DA
|
New
|
Comm
|
Private
|
ABC / AB / C / A / A-DIC
|
USA
|
|
DB
|
New
|
Comm
|
Private
|
ABC / AB / C / A / A-DIC
|
Ex-USA
|
|
D1
|
New
|
Comm
|
Public
|
A / A-DIC
|
Ex-USA
|
|
D2
|
Amended
|
Comm
|
Public
|
ABC / AB
|
USA
|
|
D3
|
Amended
|
Comm
|
Public
|
ABC / AB
|
Ex-USA
|
|
D4
|
Unchanged
|
FI
|
Public/Private
|
ABC / AB / C / A / A-DIC
|
USA
|
|
D5
|
Unchanged
|
FI
|
Public/Private
|
ABC / AB / C / A / A-DIC
|
Ex-USA
|
|
|
|
|
|
|
|
|
D6
|
Unchanged
|
FI/Comm
|
Public/Private
|
Entity EPL
|
USA
|
|
D7
|
Unchanged
|
FI/Comm
|
Public/Private
|
Entity EPL
|
Ex-USA
|
|
D8
|
Unchanged
|
FI/Comm
|
Public/Private
|
TL
|
USA
|
|
D9
|
Unchanged
|
FI/Comm
|
Public/Private
|
TL
|
Ex-USA
|
|
|
|
|
|
|
|
|
BB
|
Amended
|
FI
|
Public/Private
|
FI crime
|
Any
|
|
BC
|
New
|
Comm
|
Public/Private
|
Commercial crime
|
Any
|
|
|
|
|
|
|
Katie ClarkExecutive, Technical Underwriting
katie.clark@lmalloyds.com