CoverageClubb - Helping businesses navigate the intricate world of specialty insurance coverage with clarity and confidence. Find out more DISCOVER OUR Specialisms Helping businesses navigate the intricate world of specialty insurance coverage with clarity and confidence Cyber CYBER INSURANCE Our cyber insurance policy review services help businesses stay ahead of ever-evolving digital threats. We identify coverage gaps and optimise policies to provide tailored, comprehensive protection in the face of increasing cyber risks. Political Violence and Terrorism POLITICAL VIOLENCE AND TERRORISM In an era of rising global uncertainty, we provide tailored insurance reviews for political violence and terrorism, ensuring your business is prepared for emerging threats with robust, all-encompassing protection. Property PROPERTY Safeguarding commercial property investments with comprehensive insurance reviews, designed to identify gaps and enhance coverage. Third Party Liability THIRD PARTY LIABILITY Ensuring robust protection against actual or alleged claims with comprehensive third-party liability insurance reviews. Natural Resources NATURAL RESOURCES Navigate the shifting energy and power landscape with confidence through our specialised natural resources insurance reviews. With deep expertise across Upstream, Midstream, and Downstream Energy, Conventional Power, and Renewable Energy, we focus on future-ready coverage to support the energy transition and ensure your assets are comprehensively protected. DISCOVER OUR Services POLICY WORDING REVIEWS POLICY WORDING DRAFTING MRC / SLIP / BINDER / POLICY REVIEWS Read more LOSS SCENARIOS AND PRODUCT STRESS TESTING INSURANCE PROGRAMME REVIEWS COVERAGE GAP ANALYSIS NEW PRODUCT DEVELOPMENT TECHNICAL TRAINING BROKER ERROR AND OMISSION MITIGATION EXPLORE OUR CoverageCenter Find out more

CoverageCenter Insights Insurance Abbreviations January 2025 Insights Download Insight How Evolving War and Terrorism Exclusions are Reshaping Offshore Energy Insurance INSIGHT 01 Subscribe to our Insights Insurance Abbreviations A B C D A AAD Annual Aggregate Deductible ACV Actual Cash Value ADR Alternative Dispute Resolution ADV Average Daily Value AICOW Additional Increased Cost of Working ALS Actual Loss Sustained AOA Any one Accident AOAOO Any one Accident or Occurrence AOC Any one Claim AOG Act of God AOL Any one Loss AOO Any one Occurrence AOV Any one Vessel AP Additional Premium ATL Actual Total Loss A AAD Annual Aggregate Deductible ACV Actual Cash Value ADR Alternative Dispute Resolution ADV Average Daily Value AICOW Additional Increased Cost of Working ALS Actual Loss Sustained AOA Any one Accident AOAOO Any one Accident or Occurrence AOC Any one Claim AOG Act of God AOL Any one Loss AOO Any one Occurrence AOV Any one Vessel AP Additional Premium ATL Actual Total Loss B BI Bodily Injury, Business Interruption BIV Business Interruption Volatility Clause BSA Broker Services Agreement C CBI Contingent Business Interruption CCC Care, Custody and Control / Care, Custody or Control CGL Commercial General Liability, Comprehensive General Liability CII Chartered Insurance Institute COEE Contingent Operator's Extra Expense COW Control of Well CP Condition Precedent CTL Constructive Total Loss D DB&C Dwelling, Buildings and Contents Insurance D&O Directors and Officers Liability Insurance DIC Difference in Conditions DIL Difference in Limits DD Due Diligence DSU Delay in Start Up Insurance E EAEA Each and every Accident EAEAOO Each and every Accident or Occurrence EAEL Each and every Loss EAEO Each and every Occurrence E&O Errors and Omissions EE Extra Expense EIL Environmental Impairment Liability EL Employers Liability EML Estimated Maximum Loss EPLI Employment Practices Liability Insurance F FAC RI Facultative Reinsurance FC Fixed Costs FCA Financial Conduct Authority FCDS Fixed Costs and Debt Servicing Charges FOB Free on board FON Firm Order Noted G GA General Average GE Gross Earnings GL General Liability GP Gross Profits GUA General Underwriters’ Agreement H H&M Hull and Machinery I IBC Institute Builders’ Clauses IBNR Incurred But Not Reported Losses ICC Institute Cargo Clauses ICOW Increased Cost of Working IHC International Hull Clauses ISO Insurance Services Office ITC International Time Clauses IUA International Underwriting Association J JCC Joint Cargo Committee JHC Joint Hull Committee JLC Joint Liability Committee JNRC Joint Natural Resources Committee JOA Joint Operating Agreement JRC Joint Rig Committee JSC Joint Specie Committee JV Joint Venture JWC Joint War Committee JXL Joint Excess Loss Committee K K&R Kidnap and Ransom L LEG London Engineering Group LMA Lloyd’s Market Association LPSO Lloyd’s Policy Signing Office LTA Long Term Agreement M M&D Maintenance and Discovery, Minimum and Deposit Premium MB Machinery Breakdown Insurance MEL Maritime Employers’ Liability MFL Maximum Foreseeable Loss MGA Managing General Agent MP Minimum Premium MPL Maximum Possible Loss N NA North America, Not Applicable NCB No Claims Bonus NEP Net Earned Premium NKORL No Known or Reported Losses NTIA Not Taken Into Account O OEE Operator's Extra Expense P PA Particular Average, Personal Accident Insurance P&C Property and Casualty PC Profit Commission PCO Products and Completed Operations PD Property Damage PI Personal Injury, Professional Indemnity, Public Liability Insurance P&I Protection and Indemnity PR Political Risks PRA Preferred Risk Agreement, Prudential Regulation Authority PV Political Violence Q QS Quota Share R RC Replacement Cost RI Reinsurance RIB Renewal Incentive Bonus ROD Removal of Debris ROW Removal of Wreck, Rest of World RP Return Premium RUB Russia, Ukraine and Belarus S S&L Sue and Labour S&P Seepage and Pollution SIR Self Insured Retention SPV Special Purpose Vehicle SRCC Strikes, Riots and Civil Commotions T TE Time Element TL Total Loss TLO Total Loss Only TOBA Terms of Business Agreement TPL Third Party Liability U UNL Ultimate Net Loss V VRI Very Rough Indication W WC Workers' Compensation WNKORL Warranted No Known or Reported Losses WP Waiver of Premium, Without Prejudice X XS Excess Y YOA Year of Account Y2K Year 2000 Z

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Terms of Use Welcome to CoverageClubb.com (the “website”). This website is owned and operated by CoverageClubb Limited (“we”, “our”, “us”). These Terms of Use set forth the terms and conditions under which you may use our website and services as offered by us. 1. Effective date 1st December 2024 2. Acceptance of Terms of Use By accessing or using this website, you accept and agree that you have read, understood, and agree to be bound by these Terms of Use. If you do not agree with these terms, you should terminate your access or use of this website immediately. 3. Changes to Terms of Use We reserve the right, at our sole discretion, to modify, add or remove these Terms of Use at any time. Any changes will be effective immediately upon posting on the website. Your continued use of the website following the posting of any changes constitutes your acceptance and agreement to the changes. 4. Use of the Website You agree to use our website only for lawful purposes and not for any illegal or unauthorised purpose, including without limitation, in violation of any intellectual property or privacy law. By agreeing to these Terms of Use, you agree to not use our website to conduct any activity that would constitute a civil or criminal offence or violate any law. You agree not to attempt to interfere with our website’s network or security features or to gain unauthorised access to our systems. 5. Intellectual Property All content, trademarks, and data on this website, including but not limited to text, graphics, logos, icons, images, sound clips, articles, clauses and software, are the property of CoverageClubb Limited and are protected by law. You may not reproduce, distribute, or otherwise use any of the materials on the website without our prior written consent. 6. Not Professional Advice The information provided on this website is for general information purposes only and is not intended to be a substitute for professional advice, whether legal, financial, or otherwise. All information on this website is provided in good faith; however, we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of any information on this website. 7. Links to Other Sites This website may contain links to third-party websites or services that are not owned or controlled by us. These links are provided for your information only. We have no control over, and assume no responsibility for, the content, privacy policies, or practices of any third-party websites or services. The inclusion of any link does not imply endorsement by us of the website or service. You accept and agree that we shall not be responsible or liable, directly or indirectly, for any loss, damage, cost or expense caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods, or services available on or through any such websites or services. 8. Errors Please note that our website may contain typographical errors or inaccuracies and may not be complete or current. We do not warrant that any information on the website is accurate, complete, reliable, current, error-free or free of viruses. We reserve the right to correct any errors, inaccuracies, or omissions and to change or update information at any time without prior notice. 9. Limitation of Liability In no event shall our aggregate liability for all claims related to the website exceed the amount paid by you, if any, to us for the specific service giving rise to the claim in the twelve (12) months preceding the event giving rise to such liability. 10. Disclaimer The content on this website is provided on an "as is" and "as available" basis. We make no representations or warranties of any kind, express or implied, as to the operation of the website or the information, content, materials, products or services included on this website. We expressly disclaim all responsibility for any loss, damage, cost or expense caused or alleged to be caused by or in connection with the use of or reliance on any such information, content, materials, products or services available on or through this website. 11. Privacy Policy Your use of this website is subject to our Privacy Policy, which can be found here 12. Governing Law and Jurisdiction These Terms of Use shall be governed by and construed in accordance with the laws of England and Wales and the exclusive jurisdiction of the courts of England and Wales. 13. Titles of Paragraphs The titles of paragraphs and sections herein are intended solely for convenience and reference, and are not deemed in any way to limit or expand the provisions to which they relate.

Insights INSIGHT 01 How Evolving War and Terrorism Exclusions are Reshaping Offshore Energy Insurance January 2025 Download Insight INSIGHT 04 Sub-Limits Vs Additional Limits: Key Distinctions and Their Impact on Claims April 2025 Download Insight INSIGHT 02 How Up-To-Date Property Valuations Help Safeguard Insurance Coverage February 2025 Download Insight INSIGHT 05 Machinery Breakdown Insurance: Evolution, Scope and Future Readiness May 2025 Download Insight INSIGHT 03 Lawsuits and Liability Risks: A Timeline of JL Form Updates March 2025 Download Insight INSIGHT 06 The Role of Existing Energy and Power Insurance Coverages in the Energy Transition: Adapting Coverage for New Technologies June 2025 Download Insight INSIGHT 07 Deductible Vs Excess: A Comparative Guide Across Specialty Insurance Coverages July 2025 Download Insight Subscribe to our Insights Join our mailing list Name* Email* Subscribe I want to subscribe to your mailing list. *

Founded in 2024 by James Clubb, an insurance professional with over a decade of experience in the London Insurance Market, our consultancy specialises in tailored insurance coverage solutions for complex risks. About Founded in 2024 by James Clubb, an insurance professional with over a decade of experience in the London Insurance Market, our consultancy specialises in tailored insurance coverage solutions for complex risks. We provide expert guidance on everything from property damage and business interruption insurance to third-party liability and cyber risks. Leveraging our extensive background working with multi-national clients including many Fortune Global 500 corporations, our mission is to simplify the insurance process and deliver comprehensive, innovative coverage solutions that align with each client’s unique needs. With experience spanning from wording drafting to policy stress testing to new product development, we are committed to helping businesses navigate the intricate world of specialty insurance coverage with clarity and confidence. Whether you need help designing new coverage or fine-tuning existing policies, we are here to ensure your business is protected for the long term. JAMES CLUBB Coverage Consultant James Clubb is an insurance professional with over a decade of expertise in the London Insurance Market. Over the course of his career, James has held key roles, most recently serving as Head of Wordings for Marsh’s Energy and Power Practice in London. In this role, he led a skilled team of wordings specialists and collaborated with some of the world’s largest multinational clients in the energy and power sectors. James’ comprehensive expertise spans a diverse range of insurance classes, including property damage, business interruption, third-party liability, operator’s extra expenses, and cyber risks. He has built a solid reputation for developing precise policy wordings, conducting rigorous stress testing, and negotiating effectively with underwriters to secure optimal coverage for his clients. In addition to technical excellence, James has worked with both private-sector clients and government departments to create risk transfer solutions and innovative insurance products that support the energy transition. His client-facing roles, such as serving as a Client Executive, have further honed his ability to work directly with risk managers, designing bespoke solutions for complex business challenges. James’ insurance journey began in 2012 at JLT Specialty, where he gained hands-on experience across various technical teams. His career has taken him across the globe, deepening his understanding of international specialty insurance markets. Driven by a commitment to client success and personalised service, James founded CoverageClubb in 2024. His new venture reflects his dedication to delivering tailored insurance solutions with a distinctive personal touch.

CoverageClubb is committed to protecting your privacy and confidentiality. Privacy Policy CoverageClubb Limited (“we”, “our”, “us”) is committed to protecting your privacy and confidentiality. 1. Introduction Welcome to CoverageClubb.com (“the website”). This privacy policy describes how we collect, use, and share personal information when you visit the website. 2. What Information We Collect, Use and Why We collect or use the following information to provide services: • Names and contact details • Addresses • Purchase or account history • Payment details (including card or bank information for transfers and direct debits) • Account information • Website user information (including user journeys and cookie tracking) • Records of meetings and decisions • Information relating to compliments or complaints We collect or use the following information to comply with legal requirements: • Names • Contact information 3. Lawful Bases Our lawful bases for collecting or using personal information to provide services are: • Consent • Contract • Legal obligation Our lawful bases for collecting or using personal information for legal requirements are: • Consent • Contract • Legal obligation 4. Where We Get Personal Information From • People directly 5. How long we keep information We keep information no longer than is necessary for the purposes for which the information is processed or for as long as the law requires us to. 6. Third-Party Links Our website may contain links to third-party websites. We are not responsible for the privacy practices or content of these websites. We encourage you to read the privacy policies of any third-party sites you visit. 7. Sharing information Outside The UK Where necessary, we may transfer personal information outside of the UK. When doing so, we comply with the UK GDPR, making sure appropriate safeguards are in place. Please contact us for more information. 8. Your Data Protection Rights Under data protection law, you have rights including: Your right of access - You have the right to ask us for copies of your personal data. Your right to rectification - You have the right to ask us to rectify personal data you think is inaccurate. You also have the right to ask us to complete information you think is incomplete. Your right to erasure - You have the right to ask us to erase your personal data in certain circumstances. Your right to restriction of processing - You have the right to ask us to restrict the processing of your personal data in certain circumstances. Your right to object to processing - You have the right to object to the processing of your personal data in certain circumstances. Your right to data portability - You have the right to ask that we transfer the personal data you gave us to another organisation, or to you, in certain circumstances. Your right to withdraw consent – When we use consent as our lawful basis you have the right to withdraw your consent. To make a data protection rights request, please contact us using the contact details below. 9. How to complain If you have any concerns about our use of your personal data, you can make a complaint to us using the contact details below. If you remain unhappy with how we’ve used your data after raising a complaint with us, you can also complain to the ICO. The ICO’s address: Information Commissioner’s Office Wycliffe House Water Lane Wilmslow Cheshire SK9 5AF Helpline number: 0303 123 1113 Website: https://www.ico.org.uk/make-a-complaint 10. Contact Us If you have any questions about this privacy policy, please contact us at: • Email: james@coverageclubb.com • Address: 128 City Road, London, EC1V 2NX, United Kingdom

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CoverageCenter Insights Insurance Abbreviations INSIGHT 01 How Evolving War and Terrorism Exclusions are Reshaping Offshore Energy Insurance January 2025 Download Insight INSIGHT 02 How Up-To-Date Property Valuations Help Safeguard Insurance Coverage February 2025 Download Insight INSIGHT 03 Lawsuits and Liability Risks: A Timeline of JL Form Updates March 2025 Download Insight Subscribe to our Insights View more Insights A AAD Annual Aggregate Deductible ACV Actual Cash Value ADR Alternative Dispute Resolution ADV Average Daily Value AICOW Additional Increased Cost of Working ALS Actual Loss Sustained AOA Any one Accident AOAOO Any one Accident or Occurrence AOC Any one Claim AOG Act of God AOL Any one Loss AOO Any one Occurrence AOV Any one Vessel AP Additional Premium ATL Actual Total Loss B BI Bodily Injury, Business Interruption BIV Business Interruption Volatility Clause BSA Broker Services Agreement C CBI Contingent Business Interruption CCC Care, Custody and Control / Care, Custody or Control CGL Commercial General Liability, Comprehensive General Liability CII Chartered Insurance Institute COEE Contingent Operator's Extra Expense COW Control of Well CP Condition Precedent CTL Constructive Total Loss D DB&C Dwelling, Buildings and Contents Insurance D&O Directors and Officers Liability Insurance DIC Difference in Conditions DIL Difference in Limits DD Due Diligence DSU Delay in Start Up Insurance E EAEA Each and every Accident EAEAOO Each and every Accident or Occurrence EAEL Each and every Loss EAEO Each and every Occurrence E&O Errors and Omissions EE Extra Expense EIL Environmental Impairment Liability EL Employers Liability EML Estimated Maximum Loss EPLI Employment Practices Liability Insurance F FAC RI Facultative Reinsurance FC Fixed Costs FCA Financial Conduct Authority FCDS Fixed Costs and Debt Servicing Charges FOB Free on board FON Firm Order Noted G GA General Average GE Gross Earnings GL General Liability GP Gross Profits GUA General Underwriters’ Agreement H H&M Hull and Machinery I IBC Institute Builders’ Clauses IBNR Incurred But Not Reported Losses ICC Institute Cargo Clauses ICOW Increased Cost of Working IHC International Hull Clauses ISO Insurance Services Office ITC International Time Clauses IUA International Underwriting Association J JCC Joint Cargo Committee JHC Joint Hull Committee JLC Joint Liability Committee JNRC Joint Natural Resources Committee JOA Joint Operating Agreement JRC Joint Rig Committee JSC Joint Specie Committee JV Joint Venture JWC Joint War Committee JXL Joint Excess Loss Committee K K&R Kidnap and Ransom L LEG London Engineering Group LMA Lloyd’s Market Association LPSO Lloyd’s Policy Signing Office LTA Long Term Agreement M M&D Maintenance and Discovery, Minimum and Deposit Premium MB Machinery Breakdown Insurance MEL Maritime Employers’ Liability MFL Maximum Foreseeable Loss MGA Managing General Agent MP Minimum Premium MPL Maximum Possible Loss N NA North America, Not Applicable NCB No Claims Bonus NEP Net Earned Premium NKORL No Known or Reported Losses NTIA Not Taken Into Account O OEE Operator's Extra Expense P PA Particular Average, Personal Accident Insurance P&C Property and Casualty PC Profit Commission PCO Products and Completed Operations PD Property Damage PI Personal Injury, Professional Indemnity, Public Liability Insurance P&I Protection and Indemnity PR Political Risks PRA Preferred Risk Agreement, Prudential Regulation Authority PV Political Violence Q QS Quota Share R RC Replacement Cost RI Reinsurance RIB Renewal Incentive Bonus ROD Removal of Debris ROW Removal of Wreck, Rest of World RP Return Premium RUB Russia, Ukraine and Belarus S S&L Sue and Labour S&P Seepage and Pollution SIR Self Insured Retention SPV Special Purpose Vehicle SRCC Strikes, Riots and Civil Commotions T TE Time Element TL Total Loss TLO Total Loss Only TOBA Terms of Business Agreement TPL Third Party Liability U UNL Ultimate Net Loss V VRI Very Rough Indication W WC Workers' Compensation WNKORL Warranted No Known or Reported Losses WP Waiver of Premium, Without Prejudice X XS Excess Y YOA Year of Account Y2K Year 2000 Z