Lloyd's Market Association Bulletin

LMA22-043-DP | 21 December 2022

IUA-LMA User Guide to Model Credit Wording Published

All The IUA and LMA have jointly commissioned a User Guide and annotated version of the model credit wording (LSW1950) for use by members. The User Guide and annotated version of the wording was produced by A to Z Risk Services (external consultant). 

The model Credit Risk Insurance Policy (LSW1950) was published earlier this year by the Loan Market Association, produced in conjunction with a working group of Lloyd's and London Market credit underwriters and counsel. 

Please note that the User Guide and annotated version of the wording should be kept private & confidential and not disclosed to third parties. 

IUA-LMA User Guide - Model Credit Risk Insurance Policy

Appendix to User Guide Final 21 December 2022

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