Political Risks, Credit and Financial Contingencies Panel

The Panel consists of the majority of Lloyd’s underwriters in these classes and provides a representative forum for the market that allows discussion of common issues or concerns.

Role of the Group

  • to promote efficient operation and the highest technical standards in the business sector
  • to represent the interests of practitioners
  • to respond to requests from practitioners for advice and recommendations on issues
  • produce LMA model wordings as appropriate

Relevant circulars/bulletins

Key Issues

  • Cyber risks
  • Coronavirus/communicable disease exposures
  • Review of bank capital regulatory issues and lobbying regarding Basel rules / insurance as a Credit Risk Mitigant
  • Research and data collation
  • Development of RDSs
  • Education and technical training
  • Brexit/Part VII Transfer.

Wordings

The Political Risk Business Panel issues wordings and clauses from time to time which are available for market use. The most popular wordings issued are listed below:

LMA5501 - Political Risks Communicable Disease Exclusion

LMA5427 - Political Risk Cyber Endorsement  
                (for use with Political Risk/Political Violence Package Business)

Contact us

David Powell
Head of Non-Marine Underwriting

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Leigh Allen
Technical Executive, Underwriting

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