Lloyd's Market Association Bulletin
LMA22-017-DP | 28 April 2022
Model Territorial Exclusion
The LMA has published a territorial exclusion for Belarus, Russia and Ukraine (LMA5583A) and a "blank" model territorial exclusion (LMA5584A), for use on non-marine insurance business.
The original versions (LMA5583 and LMA5584) were published on 19 April, but have now been updated to "A" versions that include an extra limb to clarify the exclusion of any loss or damage to property or assets located in the excluded territories (including where owned by insureds/claimants outside of those areas).
All LMA model clauses 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 clauses as they see fit; the LMA does not protect its intellectual property rights over model clauses. It is for underwriters to decide whether or not any contractual language is acceptable on any given risk.
Head of Technical Underwriting