All documents below are the latest versions.

Archived documents are available here.

Marine Warranty Surveyor (MWS) Information

Pre-engagement documents, and aim to provide users with a understanding of the critical assurance role the Marine Warranty Surveyor plays in activity involving high value and complex operations.

• JR2019-009 Marine Warranty Surveyor Information Form
• JR2019-010 MWSC Pre-Qualification and Good Practice Guideline
• JNR2024-047 Overview of Marine Warranty Surveying (MWS) Companies Appointment & Execution
• Marine Warranty Survey Presentation by JNRC and SOMWS: Module 1
• Marine Warranty Survey Presentation by JNRC and SOMWS: Module 2

Upstream Construction

Oil and Gas Upstream Construction activity, including: Fixed Platforms; Floating Structures, Pipelines & Bundles; Subsea Equipment, Umbilicals, Risers and Flowlines (SURF); and Marine Transportations.

• JR2019-006 Upstream Construction COP SOW
• JR2019-006A Upstream Construction Warranty Endorsement
• JR2020-018 JRC MWS COVID-19 Endorsement
• JNR2026-007 Minimum Information Required for Risk Assessments

Offshore Renewables

Offshore Renewables, and primarily Offshore Wind, both fixed bottom and floating, during course of construction and operations.

• JR2021-028A Renewables Warranty Endorsement
• JNR2023-041 Offshore Wind Farm Survey Guidelines
• JNR2024-050 Risk Engineering Guidelines for Insurance of Floating Offshore Wind
• JNR2025-030 Renewables COP SOW COA
• JNR2026-005 Minimum Information Required for Risk Assessments

Rig Move

Movement of all mobile offshore units (MOU) and location approval specific to Jack-Up Rigs.

• JR2019-004 Rig Location & Move Initial Screening Process
• JR2019-005 Rig Location & Move COP SOW
• JR2019-005A Rig Location & Move Warranty Endorsement
• JR2020-018 JRC MWS COVID-19 Endorsement
• JR2021-030 Rig Moves Comparison between LSW498 and JR2019-005

Project Cargo

Safe transit of Project Cargo, with a dedicated COP/SOW.

• JR21-032 JRC Project Cargo COP SOW COA
• JR21-032A JRC Project Cargo MWS Endorsement

Lay-up/Reactivation

Assurance and warranty associated with Lay-Up and Reactivation of MOUs, which also includes for FPSO and offshore construction vessels.

• JR2019-008 Lay-up, Reactivation and Moorings COP SOW
• JR2019-008A Lay-up & Moorings Warranty Endorsement
• JR2019-008B Reactivation Warranty Endorsement
• JR2020-019 JRC LULAS COVID-19 Endorsement
• JR2020-020 JRC RS COVID-19 Endorsement

Upstream Decommissioning

Assurance and warranty associated with Upstream Decommissioning activity (but not including Wells), and is applicable to both Oil & Gas and Renewables.

• JR2019-007A Upstream Decommissioning Warranty Endorsement
• JR2020-018 JRC MWS COVID-19 Endorsement
• JNR2025-008 Upstream Decommissioning CoP SoW Rev 03

Well Review Guidelines

Primarily aimed at Drilling activity, the Guideline can be used across the well life cycle, and also includes for a Corporate Well Risk Engineering Survey template.

• JR2018-012 Well Review Guideline  
• JR2018-012A Well Review Warranty Endt
• JR2020-021 JRC WRS COVID-19 Endorsement
• JNR2024-046 Importance of the Well Review  

FUMA  

A tiered approach to promote and enable dialogue with assureds with respect to mooring systems associated with a wide range of moored floating units used across the offshore Oil & Gas and Renewables sectors.

• FUMA Survey Endorsement
• FUMA Code of Practice (COP) and Survey Scope of Work (SOW)

Offshore Operations

Guidance specifically related with Offshore Oil & Gas Operations, including Survey Protocols and good practice in regards Umbilicals and Risers

• Good Practice Guidelines for Umbilicals and Risers
• JNR2024-045 – Upstream Survey and Reporting Protocol

Asset Values Guidelines

In this section the Upstream Property Values and Value Maintenance Guideline provides an overview of Upstream Property Values, and aims to assist Underwriters to have an informed opinion as regards the accuracy and acceptability of property values presented as part of an Offshore Operational placement.

• JR2019-003 Upstream Property Values & Value Maintenance Guideline 

QA/QC Document 2026

An effective Quality Management System sits at the heart of a good project and supports operational resilience. In support of this, the Sub-Committee has produced a document for the benefit of both insurers and assureds entitled “Guideline for Auditing a Manufacturing Facility and the Implementation of Manufacturers’ QA and QC Procedures” aimed at offshore oil and gas (upstream) and renewables projects.

The Guideline considers current market shipyard audit opportunities embedded in the current JH143 and suggests possible enhancements to such an audit that, in addition to shipyards, include factories and fabrication yards. It also provides guidance on the critical features insurers should look for when reviewing the Quality Management System and the associated audit processes supporting project delivery and the quality of manufacturing facilities.

• QA/QC Document 2026

The JNRC publishes an educational resource designed to raise greater awareness of major upstream energy losses and incidents. These lessons learned initiative aims to:

• Assist in the prevention of major incidents reoccurring through information sharing with clients.
• Promote easily and readily available retrieval of loss and lessons learned information.
• Promote lessons learned training as part of formal education programmes and role induction for energy insurance professionals.

The LON provides a technical focus, and as such are not intended to be a claims resource.

LON001 – Piper Alpha

LON002 – Mumbai High North

LON003 – Alexander L. Kielland

LON004 – P-36

LON005 – Longford Gas Plant

LON006 – Deepwater Horizon

LON007 – Ocean Ranger

LON008 – Montara

LON009 – Varanus Island

LON010 – Elgin

The committee will make available ice maps to show the applicable approximate areas for trading warranties for the mostly widely used wordings.

Please find below links to the historic guidance on Institute Navigating Limits, issued by the Navigating Limits Sub-committee. These are currently under review and will be re-issued later this year.

Area 1 – Arctic
Area 2 – Northern Seas
Area 2b – Chukchi Sea Kivalina
Area 3 – Baltic
Area 5 – North America East
Area 9 – East Asia

Please see below the links to the most widely used meteorological website services.

Baltic Sea: Finnish Meteorological Institute – https://en.ilmatieteenlaitos.fi/ice-conditions

Canada: Canadian Gov – https://www.canada.ca/en/environment-climate-change/services/ice-forecasts-observations/latest-conditions/products-guides/chart-descriptions.html

Greenland: Danish Meteorological Institute – https://ocean.dmi.dk/arctic/icecharts.uk.php

Norwegian and Barents Sea: Meteorological Institute – https://cryo.met.no/en/latest-ice-charts

Sea of Okhotsk: Japanese Meteorological Institute – https://www.data.jma.go.jp/kaiyou/shindan/c_1/okhotsk_anl/okhotsk_anl.html

Please see here on guidance as to how to read an ice map.

The sub-committee will keep emerging risks under review and update and populate this area in due course.

The Committee retains the services of S&P Global (previously IHS) to provide them with detailed and timely briefings of the changing security threats around the world, available here.

Disclaimer: The Global Cargo Watchlist (the “Watchlist”) is provided by the LMA, IUA and S&P, and reflects S&P’s opinion which is for information only. It is aimed at LMA and IUA members, and insurance market participants. The content of the Watchlist is not definitive or binding on any party. Parties may reach different conclusions as it is for them to decide whether any of the analyses contained within the Watchlist aligns with their own view. Neither the LMA, IUA or S&P nor any party involved in the preparation of the Watchlist accept any liability arising from reliance on the Watchlist.

The recent experience of theft by misappropriation has led to a greater understanding of the developing operating methods and increased exposures of goods in store. Misappropriation exclusion and misappropriation inclusion clauses, including definitions of the perils faced, are available on the LWR.

The increasing disparity between production and sales costs, where goods can be replaced, has been recognised by the committee and an appropriate clause is now available on the LWR.

The Prudential Regulation Authority (PRA) has asked insurers to identify, quantify and manage their cyber risks. The definition of cyber remains fluid.

Following an intense period of work to understand the direct market positions by sector and how those interface with reinsurer concerns, the JXL has released its Communicable Disease Exclusion JX2020-009 and a Limited Coverage Endorsement JX2020-010. As with the main CL432 wording, dialogue between parties during placement is very much encouraged so that they reach a mutual understanding of the risks.

The Lloyd’s drive for clarity on policies over cyber, or more precisely on coverage given and claims that may arise from the use of software, has ramifications for reinsurers as they also have to be clear on their exposures and coverage.

Underwriters remain mindful of the PRA requirement that underwriters identify, quantify and manage their cyber exposures, both affirmative and non-affirmative. Further to Lloyd’s more specific mandate on affirming or excluding cover, the LMA has released LMA5402 (cyber exclusion) and LMA5403 (cyber endorsement) to address this issue.

The regulatory definition of cyber remains a challenge as there is no harmonised understanding of what the term encompasses. Work has been done within LMA committees to address this challenge, focusing on software as a basic concept with clear and definite components.

Alternative fuels is an increasingly complicated topic as the shipping industry is tasked with the transition towards low-carbon fuels to meet environmental goals. Using alternative fuels has direct safety and exposure implications for insurers, especially in hull and protection & indemnity cover.

Increased cost of salvage refers to the higher-than-usual expenses involved in recovering a vessel or its cargo after a marine casualty. As salvage operations can often exceed the insured value of a vessel, those writing hull insurance should be aware of how this can affect premium pricing, coverage limits and the need for deductibles or sub-limits on salvage-related expenses.

The Hong Kong Convention sets global standards for ship recycling to ensure it is safe, clearly documented and environmentally friendly. It outlines a legal and environmental framework that marine insurers must consider.

IACS removed the Russian Maritime Register of Shipping from their membership. This is believed to be effective in respect of survey certification and means that surveys cannot now be approved by RMRS.

Where there are concerns over the specific classification clause and/or RMRS vessels, brokers should liaise with clients and obtain specific agreement from underwriters in respect of coverage continuation.

Climate change litigation could include claims for environmental damage, pollution or liabilities arising from the impact of extreme weather events or rising sea levels, which are becoming more prevalent as a result of global climate change. The JLC monitors developments and discusses how underwriters may need to adapt their policies to account for the changing risk landscape brought about by climate change.

This issue involves liaising with the International Oil Pollution Compensation Fund (IOPC) to ensure that the shipowner has valid proof of insurance (via the Blue Card) to meet the relevant obligations. This facilitates the process of compensation from the IOPC fund if a significant incident occurs, ensuring that those affected by the incident can receive compensation even if the shipowner’s insurance is insufficient.

Legal developments, particularly in the US, continue to reshape this class of business by expanding liability exposure through broader pollution and personal injury interpretations, encouraging more frequent and costly litigation, forcing insurers to adjust policy language, pricing and coverage, and creating demand for innovative coverage related to climate, ESG and regulatory risks.

The Joint Natural Resource Committee (JNRC) and Joint Energy Claims Group (JECG) have undertaken a review of the Energy Exploration and Development Insurance 8/86 Form (EED 8/86). The purpose of this review was to update and clarify certain areas within EED 8/86, rather than a full rewrite.

There has been a comprehensive consultation process overseen by the Joint Natural Resource Committee (JNRC) and the Joint Energy Claims Group (JECG).

The JNRC’s Survey and Engineering Sub-Committee publishes technical documents for the market, including:

• Good Practice Guidelines
• Guideline Scopes of Work (SOW) with supporting Codes of Practice (COP) for Marine Warranty Survey and other Risk Consultant activity carried out as an assurance activity as part of wider insurance provision.
• Lessons learned documents, an educational resource designed to raise greater awareness of major upstream energy losses and incidents.  

Visit the Survey and Engineering Sub-Committee page to access the documents.

Cash in Transit is a type of coverage that protects cash and other negotiable instruments while they are being transported from one location to another. The JSC’s Cash in Transit Working Party focuses on the issues and challenges pertaining to underwriting this class of business.

The Cyber Working Party was established in response to Lloyd’s requirements (Market Bulletin Y5258) that all policies should clearly state whether cyber events are covered. The working party has drafted and released several clauses to help the specie market with this requirement and continues to monitor cyber-related matters through this workstream.

This cross-market working party is reviewing how specie surveyors are paid, aiming to create a clearer and more efficient process. A key focus is addressing legacy debt, which poses a risk to small businesses and could impact the availability of surveyor services in the future.

Restitution and repatriation are increasingly relevant terms in the US museum sector and are not currently reflected in policy wordings. Given the broad scope of all-risk policies, improved clarity would benefit both underwriters and insureds. The working party is reviewing the existing defective title wording to determine whether, and how, the ‘2 Rs’ could be included or excluded. Two clauses were released in January 2026, under the following references: JS2026-023 and JS2026-024.

The Specie and Fine Art Underwriting Academy Programme has been developed by the LMA in collaboration with senior Fine Art & Specie (FA&S) underwriters and managers.

Across six interactive and participatory modules, delegates will learn and develop knowledge of:

• Typical causes of loss across all Fine Art & Specie Risk Categories (Fine Art, Jewellers’ Block, Cash in Transit, Vault and General Specie)
• Policy wordings used and key underwriting decisions.
• How to assess different FA&S risk submissions.

For more information, please visit the LMA Academy webpage.

In conjunction with independent security advisers, Herminius, the JWC publishes a list of geographical areas where vessels are considered at increased risk of war-related perils. Ships sailing into the regions appearing on the Listed Areas may require additional war risk coverage.

Rating is a matter for individual negotiation between underwriters and brokers and the JWC plays no role in that. The committee last reviewed the areas in September 2024. The current listed areas are linked below:

JWLA-033 Iran

JWLA-032 Guyana

JWLA-031 Sudan

Full LMA members can access Herminius’ Joint War Committee Quarterly Briefings here.

The situation is uncertain and, in some ways, unique. For now, the kinetic risk is assessed to be less of a concern than the potential for seizures or detentions.

The Houthis have announced a truce, though it does not include Israeli-linked vessels. The threat to commercial shipping is thus on hold for now, but hostilities could resume if the ceasefire fails. Houthi forces seek recognition of their regime whilst also trying to change Israeli policy in Gaza.

Iran and Saudi Arabia were engaged in a proxy conflict in Yemen. That war was estimated by the UN to have cost 150,000 military casualties and perhaps 377,000 deaths in all. A fragile truce is in place between the Houthis and the Saudis and the Houthis have established de facto control of urban centres in Yemen.

Foreign vessels are currently forbidden from entering Yemeni waters. Yemen does not have an effective navy of their own, so the Egyptian and Saudi navies were mandated to enforce this. There are entry procedures for vessels to enter Hodeidah or Saleef port – a completed form must be sent to the Yemen Ministry of Transport, now based in Jeddah. The system works but is complex.

The overall situation remains unstable so caution is advised. The Listed Areas will be re-adjusted if required by circumstances.

The fighting was centred on the capital Khartoum, 400 miles from the coast. There is assessed to be no immediate threat to shipping and there have been no reports of attacks on ships or port infrastructure. The SAF have full control over Port Sudan and no impact has been reported at other terminals.

Vessels picking up refugees may have to divert to a different port to that originally intended; voyages may be lengthened and there are likely to be logistical and operational consequences.

The shipowners removed their HRA at the beginning of 2023. The JWC continues to maintain its listed area as before. Recent incidents are not considered to be a clear trend requiring expansion eastwards, but the situation is under close watch.

The JWC listed areas are set for business reasons and the Indian Ocean area was never the same as the UKMTO or the industry BMP/HRA areas but does serve to alert parties to the potential dangers. The applicable US Executive Order effectively requires insurers to contact OFAC should they be involved in a piracy case.

Pirate activity is intermittent off Eastern Malaysia and a number of oil cargo seizures have occurred there.

In the Gulf of Guinea, crew abductions are the main threat. Since mid 2021, the number of incidents has notably decreased, but attacks still occur.