Co-Lead Claims Agreement Update

From 1 June 2023, the Lloyd’s Claims Lead Arrangements (“CLA”) apply to all risks written within a co-lead binder arrangement. This means there will only be one Lloyd’s claims agreement party (for standard claims) that determines the share of all syndicates subscribing to the risk, across all the binders under which the risk was written.

The LMA’s Delegated Authority Claims Group has updated the LMA9186A Co-Lead Claims Agreement (“CLCA”) in line with this change and to support the market in meeting the CLCA provisions set out in the co-lead binder specialist guidance produced by Lloyd’s.

These updates have been produced in consultation with Lloyd’s and LIIBA members and are for use in Lloyd’s (single market) co-lead binder arrangements only.

The implementation dates for the Claims Lead Arrangements have been phased for co-lead binder arrangements.

From 1 June 2023, the Claims Lead Arrangements apply to all risks written under co-lead binder arrangements that comprise binders which all incepted on or after 1 June 2023.

From 1 January 2024, the Claims Lead Arrangements apply to all risks written under co-lead binder arrangements where any of the binders in the arrangement incepted before 1 June 2023.

Further information on the Claims Lead Arrangements including co-lead binder specialist guidance and training can be found on the LMA Website.

Please direct any questions for the LMA or Delegated Authority Claims Group to jenny.neale@lmalloyds.com.

Jenny Neale
Senior Executive, Claims