The LMA has published two updated model UK Terrorism Extensions, LMA5010F and LMA5010G, replacing LMA5010E, which has now been archived.

LMA5010F and LMA5010G contain updated definitions reflecting amendments to the definitions used in the Pool Re agreement.

The only difference between the two model clauses is that LMA5010F includes a termination provision to apply in the event that the Pool Re scheme is dissolved. LMA5010G does not contain this provision.

Both LMA5010F and LMA5010G are available via the Lloyd’s Wordings Repository.

The updated model wordings are available via the Lloyd’s Wordings Repository and the previous versions have been archived. 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).

Toby Clark
Executive, Technical Underwriting
toby.clark@lmalloyds.com