International Underwriting Association of London

International Underwriting Association of London (IUA) in International Trade

Meaning of International Underwriting Association of London (IUA), according to the Dictionary of International Trade (Global Negotiator): Entity that publishes the most known marine cargo insurance conditions through its “A”, “B” and “C” clauses.

“A” Clauses. The broadest type of standard coverage generally available. This does not include coverage for the perils of war risk, strike, riot and civil commotion. These additional coverages are available for most markets, usually at modest additional premiums.

“B” Clauses. It includes partial losses for heavy weather, and covers the following additional perils: lightning, seawater as a result of heavy weather and jettison.

“C” Clauses. It provides minimum cover: total or partial loss from stranding sinking, burning or collision; and total loss from errors in vessel management, boiler bursting, defects in hull or machinery and explosion.

The IUA was formed in 1998, through the merger of the London International Insurance and Reinsurance Market Association (LIRMA) and the Institute of London Underwriters. Website.