Joint Power Generation Committee
The Committee represents and promotes the interests of the writers of Power Generation business within the London market. It was created in 2013 and has a worldwide territorial remit. Its scope is operational power (business classified by Lloyd's as 'PG' ). Click here for a list of current Panel members and Panel Terms of Reference.
Role of the panel
Broadly the role of the Joint Power Generation Committee is to:
- identify issues considered to be of interest or concern to market practitioners, for discussion within the Committee and/or referral as appropriate to the relevant LMA Committee and/or the LMA Executive
- respond to requests from the Non-Marine Committee (NMC), the LMA Executive and other LMA Committees and Groups for advice and recommendations on issues
- liaise with the NMC to develop or revise policy wordings or clauses for adoption as LMA accredited wordings, establishing working groups as necessary to undertake this work
- liaise with the NMC to undertake other technical activities, establishing working groups as necessary
- provide a forum for exchange of views and information between market practitioners.
The LMA issues model wordings from time to time. These wordings are purely illustrative and established and distributed for the guidance of members, who are free to agree different conditions.
Recently issued wordings that may be of interest to the LMA Membership writing Onshore Energy business are listed below. These wordings are all available on the Lloyd's Wordings Repository.