Lloyd’s Market Association Bulletin

The LMA Onshore Energy Business Panel has published the attached model clause:

• LMA5514 – Property Damage Valuation and Average Clause (for use in conjunction with Onshore Energy Risks).

As with all LMA model clauses, this clause is purely illustrative and is distributed for the guidance of LMA members, who are free to agree to different conditions or amend as they see fit. The clause is available on the Lloyd’s Wordings Repository (LWR), which can be accessed via www.lloydswordings.com.