Wordings & Contracts Forum - Role of the Committee
The LMA's Non Marine Wordings & Contracts Forum was established to support the LMA's Non-Marine Committee in its responsibility for technical and wordings matters, which reflect the full range of underwriting activity in the non-marine market, with a specific role to develop or revise policy wordings or clauses for adoption as LMA approved wordings.
In order to develop policy wordings/clauses for adoption as LMA approved wordings, the Wordings & Contracts Forum works alongside the permanent LMA Business Panels and (as necessary) ad hoc groups / working parties formed to address specific wordings/technical matters.
In July 2009 the LMA's Non-Marine Committee adopted a formalised protocol for the drafting and adoption of new model wordings. This structure is intended to streamline the procedure and reduce timeframes by creating greater certainty regarding the role and responsibilities of each party involved in the drafting and accreditation process.