The International Underwriting Association has launched a new online library of model insurance and reinsurance clauses.

Freely accessible online, there are more than 1,000 items within the database, including explanatory notes and background papers, grouped into three main classes of business: aviation, marine and property and casualty.

The IUA operates a London company market Clauses Committee which is made up of senior wordings specialists from across the association’s member companies. It meets regularly to discuss issues raised by underwriting groups and review proposed new model clauses.

Tom Hughes, senior underwriting and claims executive, and secretary to the Clauses Committee, said: “Model clauses are a vital resource for companies in the London Market. They are widely used across our industry and more are being added all the time as new coverage questions arise.

“Our documents provide a useful template that can be adopted and amended as required. They are particularly helpful for new entrants to the market and therefore promote competition.”

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