Commercial Property All Risks – LM7 Wording

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Commercial Property All Risks – LM7 Wording

Commercial Property All Risks – LM7 Wording


Even though the All Risks policy has been around for quite some time, it still offers some challenges to industry professionals.


This module analyzes, in depth, the LM7 wording, along with the different components of cover and the calculation of the sum insured

Target Audience

Junior underwriters, underwriting assistants, junior claims personnel, sales, distribution and account executive staff.

Learning Outcomes

After finishing this workshop, the attendees will be able to:

•  Learn about the origin of Fire insurance and its evolution to “All Risks coverage”
•  Understand the difference between Fire & Allied Perils and All Risks Policy
•  Understand the problem with the “All Risks” label
•  Understand the cover provided by the LM7 policy
•  Understand the categories and groups of exclusions
•  Interpret the exclusions in light of the basic principles, operation and contract of insurance
•  Identify how exclusions can be bought back
•  Interpret the different policy conditions
•  Define different interests covered: buildings, content, machinery, stock, money, tenant’s improvements, loss of rent, burglary, business interruption, decoration…..
•  Understand on what basis cover can be granted: Indemnity, New for old, agreed value…..
•  Understand how to calculate of the sum insured depending on the basis of cover for buildings, content, machinery and stock


6 hours (1 day or 2 half-days)

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