Onshore Energy Committee

The Committee represents and promotes the interests of the writers of Onshore Energy business within the London market. It was created in 2011 and has a worldwide territorial remit. Its scope includes hydrocarbon production and processing but not operational power (business classified by Lloyd's as 'PG' ). Click here for a list of current Committee members  and the Committee Terms of Reference   .

Role of the Committee

Broadly the role of the Onshore Energy Committee is to:

  • Identify issues considered to be of interest or concern to market practitioners, for discussion within the Panel and/or referral as appropriate to the relevant LMA Committee and/or the LMA Executive
  • Respond to requests from the Non-Marine Committee (NMC), the LMA Executive and other LMA Committees and Groups for advice and recommendations on issues
  • Liaise with the NMC to develop or revise policy wordings or clauses for adoption as LMA accredited wordings, establishing working groups as necessary to undertake this work
  • Liaise with the NMC to undertake other technical activities, establishing working groups as necessary
  • Provide a forum for exchange of views and information between market practitioners

Wordings

The LMA issues model wordings from time to time. These wordings are purely illustrative and established and distributed for the guidance of members, who are free to agree different conditions.

Recently issued wordings that may be of interest to the LMA membership writing Onshore Energy business are listed below. These wordings are all available on the Lloyd's Wordings Repository.

LMA5515    - Business Interruption Volatility Clause  (for use on Oil, Gas and Petrochemical Contracts)

LMA5514 - Property Damage Valuation and Average Clause (for use on Onshore Energy Risks)

LMA5384 - Business Interruption Volatility Clause - Average Daily Value (For use on Oil, Gas and Petrochemical Contracts)
 

LMA5383 - Business Interruption Volatility Clause (for use on Oil, Gas and Petrochemical Contracts)



 

Risk Engineering Documents

The Onshore Energy Business Panel’s Engineering Sub-Group issues certain model risk engineering documents from time to time. These documents are purely illustrative and established and distributed for the guidance of members.

Recently issued documents that may be of interest to the LMA membership writing Onshore Energy business are listed below. These documents are all available on the Lloyd's Wordings Repository.

Events

Offshore Energy Business Panel (with presentation by Global Risks Solutions)

Contact us

Dele Fajimolu
Senior Executive, Technical Underwriting

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Members

Members' area

IUA members can access committee minutes by emailing lma@lmalloyds.com  

Risk codes

The scope of the Panel comprises business that would be classified by Lloyd's as 'EF'.

Useful links

Lloyd's Wordings Repository 

Oil, Petrochemical and Energy Risks Association (OPERA)

LMA Competition Law Guidance