Model Territorial Exclusion updated

The LMA has published LMA5583B an update to the model Territorial Exclusion (Russia/Ukraine/Belarus) for use on Non-Marine risks. The previous version (LMA5583A) will be archived. Changes include minor amendments to limb iii and the description of disputed regions of Ukraine.

LMA5583B

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. The clauses are available on the Lloyd’s Wordings Repository (LWR).

David Powell
Head of Technical Underwriting