Lloyd's Market Association Bulletin

LMA23-029-RM | 19 October 2023

Water Damage (Freeze) Deductible Endorsement – LMA5624

This endorsement introduces an additional deductible in respect of water damage following a freezing temperature weather event within the USA. 

The clause has been developed by the LMA’s Worldwide Property Business Panel and has been reviewed by the LMA’s Wordings Committee and has undergone external legal review (US).

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).

Ron Monfries 
Executive, Technical Underwriting 

Chris Mather 
Senior Executive, Technical Underwriting