Risk Code Triangulations

LMA Loss Triangles – Terms of Use

In consideration of the LMA making the Data available to you, you agree to be bound by these following Terms of Use.

For the purposes of these Terms of Use:
1. “Data” means the quarterly loss triangulation outputs for each Lloyd’s risk code, including (i) the “gross-gross” signed premium on all policies; (ii) the acquisition costs on all policies; (iii) the level of gross paid claims; and (iv) the level of gross incurred claims, in each case pertaining to each risk code;
2. “we”, “us” and “our” means the Lloyd’s Market Association (the “LMA”) and, to the extent that it provides part of the Data, the Society incorporated by Lloyd’s Act 1871 (“Lloyd’s”); and
3. “you” means the managing agent accessing the Data
You acknowledge and agree that:
4. The Data is intended for general information purposes only and is provided as is; 
5. Whilst all care has been taken to ensure the accuracy of the Data we do not accept any responsibility for any errors or omissions and do not represent, warrant or undertake that the Data is accurate, complete, up to date or reliable;
6. We disclaim, to the fullest extent permitted by law, any responsibility or liability for any loss to any person acting or refraining from acting as the result of, but not limited to, any statement, fact, figure, expression of opinion or belief contained in the Data; 
7. The Data is provided for exclusive use within your managing agency and should not otherwise be copied, reproduced, disclosed, broadcast or made available (in whole or in part) in any media;  
8. Any title, copyright, database right and all other intellectual property rights that we may have in the Data, Data source listing and associated documentation and all parts and copies thereof shall remain vested in us;
9. We have the right to alter or remove the Data at any time and for any reason upon notice to you;
10. We accept no responsibility to any third party to whom the Data is shown or into whose hands it comes as a result of your breach of these terms of use and you shall accordingly indemnify us in respect of any claim of infringement of intellectual property rights against us by a third party in respect of your use of the Data; and
11.   You are permitted to share the Data with your firm’s auditors, actuaries and other professional advisers for the sole purpose of their undertaking their professional appointment by you, provided that they are under a similar obligation to treat the data as confidential 

More information on the basis of preparation and limitations of the Data can be found [here].