Compliance with Lloyd’s Commitments to Sustainable Insurance: LMA model clauses published

The LMA Terrorism Business Panel has drafted the following clauses:

LMA5568 Compliance with Lloyd’s Commitments to Sustainable Insurance (for use on Facilities and Lineslips)
LMA5569 Compliance with Lloyd’s Commitments to Sustainable Insurance (for use on Binding Authority)

These clauses were drafted to assist underwriters and colleagues with ESG responsibilities in adopting underwriting/ESG strategies. The clauses were drafted for the Terrorism & Political Violence market, but could be used more broadly where appropriate.

The model clauses may assist managing agents in implementing the Lloyd’s Commitments to Sustainable Insurance (or equivalent internal ESG policies or commitments) in respect of line slips or delegated underwriting where the (re)insured may have exposure to targeted assets/activities.

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

Leigh Allen
Executive, Technical Underwriting