Following the Lloyd’s Bulletin Y5258 that confirmed a number of Lloyd’s requirements for clarity in insurance policies regarding cyber cover, the LMA has conducted a review of eight sample US general liability clauses from the following insurers; AIG, Allianz AGCS, AWAC, AXA XL, Berkshire Hathaway Specialty, Chubb, Everest Re and Swiss Re. The review identifies the clauses that are compliant with the Lloyd’s requirements in respect of cyber affirmation.

Following the review, the LMA can confirm that the clauses reviewed are compliant with the Lloyd’s requirements. The US excess casualty underwriters should therefore be able to follow form knowing that the cyber language is acceptable.

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. The clauses are available on the Lloyd’s Wordings Repository (LWR).

Chris Mather
Senior Executive, Technical Underwriting
chris.mather@lmalloyds.com