Lloyd’s Market Association Bulletin

The LMA’s Financial Institutions Committee has published LMA5478A, an update to LMA5478, a model cyber endorsement for use on Financial Institutions business.

The updated clause includes an extended list of exclusions in paragraph two.

Capitalised terms in the clause that are not marked in bold (e.g. Loss) indicate terms that are defined in the underlying contract. Capitalised terms that are defined in bold (e.g. Cyber Act) are defined in the endorsement.

The original clause (LMA5478) has been archived. NB There are two other clauses in this suite; LMA5477 and LMA5479.

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).

David Powell
Head of Technical Underwriting
david.powell@lmalloyds.com