1. Managing agents and all members are deemed to have agreed to and to be bound by the limits of liability set out in paragraphs [2. to 6. below] by their participation in these Claims Lead Arrangements, regardless of any expression to the contrary.
Arrangements, paragraph 27
2. The total liability, whether in contract, in tort (including but not limited to negligence), breach of fiduciary duty, breach of statutory duty or otherwise, of:
(i) a managing agent of a leading Lloyd’s syndicate; or
(ii) in respect of a complex claim, a managing agent of a second Lloyd’s syndicate to all members of following Lloyd’s syndicates in aggregate on whose behalf the managing agents in (i) or (ii) have acted or are acting under these Claims Lead Arrangements shall not exceed –
(a) In respect of any CLA claim(s) made in the 2023 or any prior calendar year:
(i) £2,000,000 in respect of any one CLA claim; and
(ii) £10,000,000 in respect of all CLA claims made in any one calendar year.
(b) In respect of any CLA claim(s) made in the 2024 or any subsequent calendar year:
(i) £5,000,000 in respect of any one CLA claim; and
(ii) £10,000,000 in respect of all CLA claims made in any one calendar year.
Arrangements, paragraph 28
3. If the aggregate liability of a managing agent to the members of following Lloyd’s syndicates in respect of any one CLA claim would, but for the limit of liability in paragraph [2.(a)(i) above] or, as applicable, paragraph [2.(b)(i) above], exceed that limit of liability, the members of the following Lloyd’s syndicates shall be entitled to be paid only a share of the limit of liability calculated in proportion to each member’s share of each following Lloyd’s syndicate’s pro rata share of the part of the insurance written by the following Lloyd’s syndicates to which the CLA claim relates.
Arrangements, paragraph 29
4. In the event that it appears to Lloyd’s that a managing agent’s liability to members of following Lloyd’s syndicates in respect of CLA claims made in any one calendar year may in the opinion of Lloyd’s exceed the limit of liability set out in paragraph [2.(a)(ii) above] or, as applicable, paragraph [2.(b)(ii) above], the Council shall prescribe requirements for the basis on which the limit of liability shall be shared between the members of relevant following Lloyd’s syndicates.
Arrangements, paragraph 30
5. A managing agent of a leading Lloyd’s syndicate and a managing agent of a second Lloyd’s syndicate, in acting on behalf of members of a following Lloyd’s syndicate under these Claims Lead Arrangements, shall not be liable for loss of profits, loss of business, loss of use or any indirect, special, or consequential damages alleged to have been suffered by a member of a following Lloyd’s syndicate.
Arrangements, paragraph 31
6. The limits of liability and procedures set out in paragraphs [2. to 5. above] shall not apply in respect of death or personal injury caused by the negligence of a managing agent of a leading Lloyd's syndicate or a second Lloyd's syndicate while acting on behalf of following Lloyd's syndicates under these Claims Lead Arrangements or as otherwise prohibited by law.
Arrangements, paragraph 32