LMA - Marine Committee

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Marine Committee

The LMA Marine Committee is the overarching committee for maritime issues at the LMA and brings together senior and experienced voices from across the market.

The committee oversees the work of numerous class-specific sub-committees, debating on wide-ranging issues such as the Black Sea, sustainability and US sanctions.

Committees » Marine

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Committee

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Neil Roberts

Head of Marine & Aviation

Committee secretary

Richard Palengat

Chair

Function

The Marine Committee convenes every other month, providing an opportunity for the chairs of each sub-committee to update the market on the wide range of work being undertaken. If any underwriter would like an issue raised at committee level, please get in contact with the committee secretary.

Red Sea

The situation remains dynamic but transits are continuing, albeit at a reduced volume.

Sanctions

Revised sanctions clauses (LMA3100A and LMA3200) have been released and are available on the LWR.

Sustainability

There are many initiatives in play, not least the IMO’s decarbonisation targets for shipping. As part of that, one of the main priorities is to examine the characteristics of the various alternative fuels.

Use of wordings and clauses

LMA wordings and clauses, and those produced by Joint Committees on which LMA members participate, are model wordings and therefore purely illustrative. Use is not restricted to LMA members, and the LMA does not protect its intellectual property rights over such wordings. Parties are free to amend LMA or Joint Committee wordings* or agree alternative terms, and it is for Underwriters, Brokers and Clients to decide whether any LMA or Joint Committee wording, whether modified or not, is appropriate for a given risk. The LMA provides no warranty of suitability for any contract or purpose and accepts no liability for any loss or damage arising from reliance on such wording. The LMA does not have clause drafting histories. LMA committees (and panels and working groups which are established by such committees) and Joint Committees are governed by terms of reference designed to ensure, amongst other things, compliance with competition law at all times.

¹please refer to LMA’s bulletin LMA-24-046-DP on amending LMA clauses.

Useful links

Committee insights

Replay – War, Terrorism and Clarity

New UK SME Property Damage and Business Interruption Model Wording Published

Updated Brazilian Duty of Enquiry Endorsement Published

Upcoming events

For events hosted online, joining instructions will be emailed to all registered attendees closer to the date of the event no later than 24 hours prior to commencement.

View more events

Invisible Intruders: When Attackers Use Your Tools Against You

The LMA is pleased to invite members of the LMA CISO Forum, delegates and invited guests to an upcoming briefing, Invisible Intruders: When Attackers Use Your Tools Against You.

Emerging Professionals Claims Community Spring Quiz Night

The Emerging Professionals Claims Community (EPCC) invites you to its Spring Quiz Night.

When Gigawatts Meet Gridlock: US Data Center Loss Analysis

The Joint Power Generation Committee invites claims, underwriting and risk professionals to When Gigawatts Meet Gridlock: US Data Center Loss Analysis.

Useful links

The following links are of general interest to the maritime sector. Marine class-specific links can be found on the individual joint committee pages.

IUMI

The LMA Marine Committee works closely with the International Union of Marine Insurance (IUMI), where Committee Secretary Neil Roberts is also Chair of the Policy Forum.

IUMI is a professional body that represents the interests of national and international marine (re)insurers, by providing education and guidance, contributing to public debate and lobbying for the interests of the market.