Lloyd's Market Association Bulletin

LMA20-031-PD | 22 June 2020

Cyber Risks Endorsements (For use with Bankers Blanket Bond and Crime Policies)

The LMA Financial Institutions Business Panel has published 2 model cyber clauses, for use with Bankers Blanket Bond and Crime Policies:

  LMA5428 – Cyber Risks Endorsement No. 1   
   LMA5429 – Cyber Risks Endorsement No. 2 


In order to satisfy Lloyd’s Bulletin 5277 - Providing clarity for Lloyd’s customers on coverage for cyber exposures - standalone BBB or Crime policies, that are otherwise “silent” on cyber exposures, are required to exclude or affirm cyber coverage. The LMA has published LMA5428 and LMA5429 which utilise terminology adopted in other LMA cyber clauses in order to assist the market in meeting the Lloyd’s requirement. LMA5428 and LMA5429 are model clauses. Such models are illustrative and are distributed for the guidance of LMA members and the market generally. Market participants are free to agree to different terms or amend as they see fit.

It is understood that cyber coverage on a BBB/ECC package policy is affirmed under the computer crime section. In most cases, such package policies contain no cyber trigger of loss under the BBB section (as all covered cyber loss falls within the computer crime section) and therefore do not require the addition of new affirmative language to be compliant with the Lloyd’s requirement. However, noting the bespoke nature of BBB/ECC policies, where an underwriter considers that a specific BBB wording within a package policy does include a cyber trigger of loss then specific policy language to affirm or exclude coverage will be required.

These endorsements are available on the Lloyd’s Wordings Repository (LWR), which can be accessed via www.lloydswordings.com.

Any queries regarding this endorsement should be referred to the LMA.


Patrick Davison
Deputy Director of Underwriting

Tony Ellwood
Senior Technical Executive, Underwriting

Alison Colver
Head of Contract Wordings