Non-Marine Property Physical Loss or Damage Wording - LMA3182

The LMA’s Worldwide Property Business Panel has produced an updated model Non-Marine Property Physical Loss or Damage Wording (LMA3182).

This wording is an update to the LMA3032 of the same name and encompasses a few changes that have occurred since 2006; a list of the notable changes is attached to this bulletin.

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 or not any contractual language is acceptable on any given risk. Model documents are available on the Lloyd’s Wordings Repository (LWR).

Non-Marine Property Physical Loss or Damage Wording - LMA3182

Notable Changes

Ron Monfries