Lloyd's Market Association Bulletin
LMA22-036-DP | 17 November 2022
Values Limitation Endorsement published
The LMA's Worldwide Property Business Panel has published LMA5599 Values Limitation Endorsement for worldwide use on property risks.
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.
David Powell
Head of Technical Underwriting