The LMA’s Medical Malpractice Committee has produced an updated Excess Health Care Provider’s Liability Policy wording, for use on US risks. Two variants of the updated wording will be published, LMA3172A (XHCP25(A)) and LMA3173A (XHCP25(B)) – the main difference being alternative Claims Co-operation language. The previous versions of the policy (LMA3172 and LMA3173) will be archived on the Lloyd’s Wordings Repository (LWR).

An Occurrence – General Liability Endorsement has been released for use with the updated wording (LMA5680 for use on LMA3172A and LMA5681 for use on LMA3173A). The endorsement amends the insuring agreement under the General Liabilities section of the policy to apply on an occurrence basis.

A document summarising the main changes to the wording has also been produced.

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).

Katie Clark
Executive, Technical Underwriting
katie.clark@lmalloyds.com

Steven Dennis
Senior Executive, Technical Underwriting
steven.dennis@lmalloyds.com

LMA5477A and LMA5479A Published by LMA Financial Institutions Committee

29th July 2025

Lloyd’s Market Association Bulletin

The LMA’s Financial Institutions Committee has published two model cyber endorsements for use on Financial Institutions business – LMA5477A and LMA5479A – updates to LMA5477 and LMA5479, respectively.

The updated model endorsements each include the same ‘other insurance’ provision as LMA5478A, which was published in May 2025.

Please note that capitalised terms that are defined in bold (e.g. Cyber Act) are defined in the endorsement.

Capitalised terms that are not marked in bold (e.g. Loss) indicate terms that are defined in the underlying contract. Users may wish to amend the model endorsements as necessary to ensure these terms match those used in the underlying contract. Further guidance will be published by the LMA shortly.

LMA5477 and LMA5479 have been archived.

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).

Toby Clark
Executive, Technical Underwriting
toby.clark@lmalloyds.com

Updated Property and Plant Testing and Commissioning Clause Published

25th July 2025

Lloyd’s Market Association Bulletin

The Onshore Energy Business Panel (OEBP) Engineering Support Group has published an update to the Property and Plant Testing and Commissioning Clause (LMA5197B).

Key points to highlight are as follows:

‘Performance Testing conforming to 100% Contract Design Criteria…’ is amended to ‘Demonstration of satisfactory plant operation at 100% design capacity…’.
Terminology updated to align with standard industry project terminology.
‘Ramp up’ to 100% design capacity is explicitly excluded.
Technical content of the Information Request Template is largely unchanged except for some additional detail concerning ‘demonstration of plant operation at 100% design capacity’ (as opposed to Performance Testing).

The updated clause will be published with the reference LMA5197C and can be downloaded from the LWR. The previous version (LMA5197B) will be archived.

If there are any questions these should be directed to dele.fajimolu@lmalloyds.com.

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).

Dele Fajimolu
Senior Executive, Technical Underwriting
dele.fajimolu@lmalloyds.com

Steven Dennis
Senior Executive, Technical Underwriting
steven.dennis@lmalloyds.com

New Profit Commission Clauses LMA5676 and LMA5677 Published

Lloyd’s Market Association Bulletin

The LMA’s Personal Accident Business Panel has published two new model profit commission clauses for use with annual binding authority agreements:

LMA5676 Lloyd’s Profit Commission Provision (Single Payment)
LMA5677 Lloyd’s Profit Commission Provision (Multiple Payments)

Capitalised terms in the clauses that are not marked in bold (e.g. Agreement) indicate terms that are defined in the underlying contract. Capitalised terms in bold (e.g. Income) are defined in the clauses.

NOTE Both clauses contain fields to be completed by underwriters prior to use.

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).

Claudia Goodridge ACII Chartered Insurer
Senior Executive, Technical Underwriting
claudia.goodridge@lmalloyds.com

LMA Archiving and Withdrawal Process for Wordings/Clauses on the LWR

24th July 2025

Lloyd’s Market Association Bulletin

The LMA wordings team have produced the attached document to clarify the newly formalised Archiving and Withdrawal process for wordings and clauses on the Lloyd’s Wordings Repository (LWR).

LMA Archiving and Withdrawal Process for Wordings/Clauses on the LWR

Claudia Goodridge
Senior Executive, Technical Underwriting
claudia.goodridge@lmalloyds.com

Lloyd Martin
Executive, Technical Underwriting
lloyd.martin@lmalloyds.com

Annual Trade Credit Claims Survey 2025

23rd July 2025

David Powell

Head of Technical Underwriting
Lloyd’s Market Association

The Annual Trade Credit Claims Survey, undertaken by A2Z Risk Services Ltd, on behalf of the Lloyd’s Market Association (LMA), the International Underwriting Association (IUA) and the London & International Insurance Brokers’ Association (LIIBA), provides valuable insight into claims activity across the trade credit insurance market.

This year’s report highlights continued high levels of claims performance across the market, with 100% of claims made by regulated financial institutions in 2024 being honoured, albeit with some minor operational delays. The findings reflect trends in obligor type, industry sector, geographical region and exclusions, offering a comprehensive view of market behaviour and claims handling practices.

The survey aims to improve transparency, support market understanding and inform future underwriting and claims strategies.

Download the 2025 Trade Credit Claims Survey results

This page sits under the Political Risk, Credit and Financial Contingencies Panel section and forms part of the LMA’s ongoing commitment to supporting the trade credit and political risk community.