The Lloyd's Market Association (LMA) has further updated its oil price cap clauses for hull and cargo (LMA5610A and LMA5611A) following the Oil Price Cap Coalition’s announcement of additional measures to reduce the possibility of circumvention of the oil price cap. The revised clauses are intended to be used on in-force and any new policies entered into after 19 February 2024 by underwriters subject to the requirements.

The Loan Market Association (LMA) has updated its term €STR fallback exposure draft and related commentary following market feedback, which ended in December 2023. The update supports the aim of strengthening EURIBOR fallbacks. However, given the lack of market practice in the use of term €STR fallbacks, the LMA has not yet moved the draft to recommended form and will need continuing feedback from members on how the provisions are used in transactions. The feedback will allow LMA to produce documentation which references both term SOFR and a fallback to term €STR in a single document alongside a single currency euro document. The updated draft is available to LMA members only on LMA's website.

The Loan Market Association (LMA) has published a schedule for compounded in-arrear Canadian Overnight Repo Rate Average (CORRA). The CORRA schedule has been produced in response to calls from the syndicated lending market to provide a suggested form of drafting for use of compounded in-arrear CORRA in conjunction with the structure for use of compounded in-arrear risk-free reference rates contained in the LMA’s existing compounded rate facilities agreements. The schedule is available through the LMA’s website to LMA members only.

The Loan Market Association has launched a new ‘Guide to Claims Trading’ which sets out guidance on when a loan trade should be carried out as a claims trade, a suggested timeline for trade claims, the documents available for claims trades and an outline of key provisions for users to be conscious of.

The Lloyd’s Market Association (LMA) has announced its 2024 Strategic Focus which provides details of its priorities for 2024. The LMA will focus on innovation, technical expertise, regulatory engagement, talent development and member engagement.

The Lloyd’s Market Association (LMA) has published endorsements LMA9200 (Lloyd's Claims Lead Arrangements Endorsement) and LMA9201 (Basis of Claims Agreement and Claims Agreement Parties Endorsement) to assist the market in implementing the changes to the Lloyd’s Claims Lead Arrangements outlined in Lloyd’s Market Bulletin Y5401.

The Lloyd’s Market Association (LMA) Delegated Authority Claims Group has produced a Cross-Market Co-Lead Claims Agreement, in collaboration with the London & International Insurance Brokers Association and the International Underwriting Association. The market guidance outlines practical steps that the market must take to adopt and meet the responsibilities under such agreements.

The Loan Market Association (LMA) has announced the publication of a new legal Due Diligence Checklist and user guide aimed at streamlining and improving transparency in lender due diligence for Subscription Facilities. The materials outline common areas of lender focus and are intended to support general partners (GPs), Limited Partners (LPs) and fund formation counsel when preparing fund documentation. These were developed in response to market demand by a dedicated Task Force together with the LMA’s Fund Finance Documentation and Guidance Working Party, with contributions from various stakeholders. The LMA emphasises that the Checklist is a starting framework only, as it does not capture all jurisdictional or structural variations, and practices may differ depending on fund size, investor composition and lender policies.

The Lloyd's Market Association (LMA) has published an update to the Model Territorial Exclusion for Russia, Ukraine and Belarus for use on non-marine risks. The updates include minor amendments to an individual that is physically in an excluded territory and the description of disputed regions of Ukraine.

The Joint International Underwriting Association/Lloyd’s Market Association (LMA) Power Generation Committee has published a Nuclear Energy Risks Exclusion in response to recent developments in nuclear fusion. The clause is intended for use on insurance risks and contains amended definitions for 'Nuclear Material', 'Nuclear Reactor' and 'High Radioactivity Zone or Area'.

The Lloyds Market Association’s (LMA) Worldwide Property business panel has published ‘LMA5599 Values Limitation Endorsement’ for worldwide use on property risks. The illustrative clauses are distributed for the guidance of Lloyds managing agents, brokers and other market participants.

The Lloyd’s Market Association (LMA) has published amended cyber and data exclusion clauses (LMA5528, LMA5529, LMA5530, LMA5468 and LMA5470). The updated clauses will have an 'A' suffix added and the original clauses will be archived. As with all LMA model clauses, these clauses are purely illustrative and LMA members are free to agree to different conditions or amend as they see fit.