Lloyd's Market Association Bulletin

LMA23-025-DP | 18 September 2023

Values Limitation Endorsement for Terrorism & PV published

The LMA has published a model values limitation endorsement for use on terrorism & political violence risks. LMA5622 is closely based on LMA5599 (property) but adapted for terrorism & political violence risks.

All LMA model documents 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 documents as they see fit; the LMA does not protect its intellectual property rights over model documents. It is for underwriters to decide whether or not any contractual language is acceptable on any given risk. These documents are available on the Lloyd’s Wordings Repository  (LWR).

David Powell
Head of Technical Underwriting

Leigh Allen 
Technical Executive, Underwriting