LMA publishes virtual events clauses for contingency policies

Article summary

The Lloyd's Market Association Contingency Business Panel (LMA) has published new model clauses in relation to virtual events for use on contingency insurance policies. The Virtual Event Exclusion and the Virtual Event Extension are drafted for the purpose of excluding/covering ​losses arising from the virtual transmission of insured events, including videos, webinars, webcasts or internet streaming platforms. The clauses are illustrative and are for the guidance of LMA members, who are free to amend these clauses as they see fit.