Business Interruption Volatility Clause (For use on Oil, Gas and Petrochemical Contracts)

The LMA Onshore Energy Business Panel has published the attached model clause. This clause replaces LMA5383.

LMA5515 - BI Volatility Clause

As with all LMA model clauses, they are purely illustrative and are distributed for the guidance of LMA members, who are free to agree to different conditions or amend as they see fit. These clauses are available on the Lloyd’s Wordings Repository (LWR), which can be accessed via www.lloydswordings.com.

Ioanna Romanou
Senior Technical Executive, Underwriting
ioanna.romanou@lmalloyds.com

Alison Colver
Head of Contract Wordings
alison.colver@lmalloyds.com