The LMA’s International Casualty Business Reinsurance Panel has published the following Accident Circle Occupational Disease (ACOD) clauses:

• LMA5711 ACOD/B (Amended) EL/Worker’s Compensation – Communicable Disease Variant
• LMA5712 ACOD/C EL/Worker’s Compensation – Communicable Disease Variant

The panel identified as part of Project Spring Clean that two of the existing ACOD clauses, LSW1602 and LSW1603, needed updating to include communicable disease as part of occupational disease, to align with the IUA version. The new clauses, LMA5711 and LMA5712, have been published as a result of this work. LSW1602 and LSW1603 remain active as requested by the panel.

All LMA model clauses 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 clauses as they see fit; the LMA does not protect its intellectual property rights over model clauses. 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
Senior Executive, Technical Underwriting
claudia.goodridge@lmalloyds.com 

Jay Desai
Executive, Legal Trainee
jay.desai@lmalloyds.com

The LMA’s Wordings Committee has updated LMA5341 (TRIA 2020 Endorsement) to address the situation should the Terrorism Risk Insurance Program not be reauthorised before its expiry on 31 December 2027. The new clause will be published as LMA5341A (TRIA 2027 Endorsement). LMA5431 will be archived on the Lloyd’s Wordings Repository (LWR).

If the Terrorism Risk Insurance Program is reauthorised, the policyholder disclosure notices listed below will be reviewed against any updated NAIC model disclosures and revised as necessary.

• LMA9185A
• LMA9156A
• LMA9183A
• LMA9184A

All LMA model clauses 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 clauses as they see fit; the LMA does not protect its intellectual property rights over model clauses. 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).

Ray Koh
Legal Counsel
ray.koh@lmalloyds.com

Jay Desai
Executive, Legal Trainee
jay.desai@lmalloyds.com

Lloyd’s has updated the suite of complaints endorsements that apply to Binding Authority Agreements to reflect changes to FCA reporting requirements and, for certain territories, the expected move from a two-stage to a one-stage complaints process.

The changes vary by territory and will affect Binding Authority Agreements incepting or renewing from 01 January 2027. Managing agents should review the updated requirements and relevant endorsements when preparing upcoming renewals.

The bulletin below provides further detail on the changes for the UK, Singapore, Hong Kong, international business, Australia, New Zealand and Canada, together with a full table of the new and updated endorsements.

Attachment: Binding Authority Complaints Endorsements Bulletin

Contact

Diane Gillett
Senior Executive, Delegated Authority
diane.gillett@lmalloyds.com

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

The LMA’s North American Casualty Reinsurance Business Panel has published LMA5710 Casualty Clash Excess of Loss Reinsurance Agreement.

LMA5710 is not intended to be used as a standalone clause. Instead, it contains model language that may be incorporated into and adapted for the relevant Casualty Excess of Loss Reinsurance Agreement. Underwriters will need to ensure that the wording operates coherently within the overall contract, including ensuring that the definition of policy aligns with that used in the existing contract.

All LMA model clauses 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 clauses as they see fit; the LMA does not protect its intellectual property rights over model clauses. 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).

Contact

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

The LMA’s Property Reinsurance Business Panel has published an updated USA and Canada Loss Occurrence Clause, NMA2244F.

NMA2244F replaces NMA2244E, which has been archived.

All LMA model clauses 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 clauses as they see fit; the LMA does not protect its intellectual property rights over model clauses. 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).

Contact

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

The LMA has published a new model wording, LMA5708 Strait of Hormuz Transit Fee Condition.

This clause has been published for use by marine (hull) underwriters. The clause is intended to address the position where a transit fee, toll or other charge is paid for a vessel to pass through Iranian territorial waters or otherwise to transit the Strait of Hormuz.

A guidance note and Sanctions and Terrorism Tables have been produced to assist insurers in using the clause.

The clause and guidance have been developed in light of legal and regulatory concerns arising where insurers become aware, or should through due diligence become aware, that a transit fee has been paid. It is intended to sit alongside existing sanctions wording.

Under the clause, insurers have no liability to indemnify any such payment and, where such a payment has been made, are discharged from obligations in respect of the relevant vessel. This clause carves back any charges levied as payment only for such specific maritime or navigational services rendered to the vessels that are legally permissible under the United Nations Convention on the Law of the Sea (UNCLOS) and any sanctions clause.

All LMA model clauses 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 clauses as they see fit; the LMA does not protect its intellectual property rights over model clauses. It is for underwriters to decide whether or not any contractual language is acceptable on any given risk. Where the text of an LMA model clause is amended, parties should make clear, next to any reference to the relevant LMA number, that the clause or wording has been amended. The LMA reference number identifies the published LMA model wording and should not be used in a policy in a way that may suggest that an amended wording is the unamended LMA model wording. Model documents are available on the Lloyd’s Wordings Repository (LWR).

Lloyd’s requires that all Lloyd’s policies covering business in the US contain a service of suit clause.

The LMA has published LMA5020C and NMA1998B model Service of Suit clauses for use on US policies. These are updates to previous clauses.

LMA5020 and NMA1998 have been withdrawn; NMA1998A, LMA5020A (Lloyd’s security) and LMA5020B (mixed Lloyd’s/non-Lloyd’s security) have now been archived.

For information on the LMA’s archiving and withdrawal process please see: LMA Archiving and Withdrawal Process for Wordings/Clauses on the LWR.

A flowchart showing usage of these clauses has been published alongside the amendments.

All LMA model clauses 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 clauses as they see fit; the LMA does not protect its intellectual property rights over model clauses. 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).

Ray Koh
Legal Counsel
ray.koh@lmalloyds.com

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

The LMA has published model Service Company Consortium Agreements for use in Australia, Canada and the Dubai International Financial Centre.

The agreements are not mandatory and are intended to be a tool that service companies in the relevant jurisdictions can use.

LMA3197 – Canadian Service Company Consortium Agreement

LMA3198 – Dubai International Financial Centre Service Company Consortium Agreement

LMA3199 – Australian Service Company Consortium Agreement

All LMA model clauses 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 clauses as they see fit; the LMA does not protect its intellectual property rights over model clauses. 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).

Ray Koh
Legal Counsel
ray.koh@lmalloyds.com

The following documents have been updated to strengthen Marine Warranty Surveyor oversight of dynamic positioning (DP) operations:

JNR 2026-002: Upstream Construction Code of Practice, Upstream Construction Scope of Work, and Upstream Construction Certificate of Approval Requirements and Examples

JNR 2026-003: Renewables Code of Practice, Renewables Scope of Work, including Renewables Certificate of Approval Examples

JNR 2026-004: Upstream Decommissioning Code of Practice and Upstream Decommissioning Scope of Work

JNR 2026-005: Lay-up, Reactivation and Moorings Code of Practice, and Lay-up, Reactivation and Moorings Scope of Work

All LMA model clauses 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 clauses as they see fit; the LMA does not protect its intellectual property rights over model clauses. 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

Tracey Cookson
Senior Executive, Technical Underwriting
tracey.cookson@lmalloyds.com

In Project Spring Clean, the wordings sub-committee of the Joint Natural Resources Committee (JNRC) identified clause JR2010-012 as requiring an urgent title update in line with LMA3100A. 

Clause JR2010-012A has now been published on the LWR and JR2010-012 has been archived.

As per the ‘A’ version of LMA3100, the title of JR2010-012A has been amended from “exclusion” to “limitation” as it is a better description of the way in which the clause works. There are no other changes to the clause from its original form.

JR2010-012A is a clause that suspends any coverage given under a contract which would expose underwriters to breaching UK, EU, US sanctions laws or regulations or UN regulations for as long as the sanctions are operative. See bulletin LMA23-028-AR for more details on LMA3100A.

All LMA model clauses 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 clauses as they see fit; the LMA does not protect its intellectual property rights over model clauses. 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

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

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