Lloyd's Market Association Bulletin
LMA24-048-TC | 30 October 2024
New Personal Accident 'K Form' Published
The LMA has published a new model consumer personal accident policy –
LMA3177 Lloyd’s Accident and Illness Insurance [K (UK)] , on behalf of the LMA Personal Accident Committee. LMA3177 is an updated version of the ‘K Form’ and replaces LMA3132C, which has been archived.
Please note that LMA3177 should be used in conjunction with LMA3177 (Schedule) and one of the two lists of benefits, which have been published as separate documents. These must be amended to reflect the relevant information about the insured, and the correct details about the policy and the coverage provided.
We have published two model lists of benefits – the ‘List of Benefits’ and the ‘Extended List of Benefits’. The ‘List of Benefits' provides the same coverage as LMA3132C’s ‘Schedule of Benefits’. The ‘Extended List of Benefits’ includes additional coverages under the ‘illness’ section, matching those provided under the ‘accident’ section (other than ‘death or disappearance’).
LMA3177 is available in Microsoft Word form via the
Lloyd's Wording Repository (LWR). The LMA is working with an external design agency to produce an interactive pdf version of LMA3177, which will soon be made available on the LWR.
The LMA has also produced two new model IPIDs for use with the ‘List of Benefits’ and ‘Extended List of Benefits’.
| New reference |
Replacing |
| LMA3177 (K Form) |
LMA3132C |
| LMA3177 (Schedule) |
- |
| LMA3177 (List of Benefits) |
- |
| LMA3177 (Extended List of Benefits) |
- |
| LMA3177 (IPID List of Benefits) |
LMA3132C (IPID) |
| LMA3177 (IPID Extended List of Benefits) |
- |
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 any contractual language is acceptable on any given risk.
Toby Clark
Executive, Technical Underwriting
toby.clark@lmalloyds.com