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Trading rights in Japan

Lloyd's Permissions

Licensed via Lloyd's Japan Inc (LJI) - (wholly owned Lloyd’s subsidiary)

Local policies are required and should be issued via the Open Market Model 


(Allowing Lloyd's to write non-admitted risk)

  • Aircraft
  • Ocean going vessels
  • Marine/Aviation Cargo
  • Overseas Travel Packages

Doing multinational business in Japan

The Japan Open Market Model (OMM) is designed to support the administration of issuing a local admitted policy in a simpler way for risks in Japan as a part of a global / multi-territory policy.

Open market risks located in Japan but controlled outside Japan require a local policy to be issued. LJI has put in place a simplified process to issue local policies compliant with Japanese regulations and writing of risks in Japan that are part of a global policy.

To use the Japan Open Market Model (to issue a local policy covering Japan risk within a multinational policy), the Japan risk must be controlled from outside Japan and:

  • The head office or ownership of the Japan entity/risk must be outside of Japan;
  • The policyholder is not registered or domiciled in Japan; and
  • The insurance purchase decision must have been taken outside of Japan.

Note: the OMM is not suitable for policies only providing cover for Japan risks or where the policyholder is a Japan domiciled / registered company

This arrangement may only be utilised by the Lloyd’s syndicates participating on the risk. LJI cannot issue a local Japan policy on behalf of non-Lloyd’s markets

Key information

Cash before cover

Japan risk premium needs to reach  LJI prior to the inception date of the Global Policy.


OMM is intended to be operated by the broker of the policyholder domiciled outside Japan and without the involvement of a locally licensed  intermediary.


LJI work in accordance with underwriters’ instructions to respond to the claim via the brokers.

Claims are paid in Japan under any local policies (as part of the multinational policy it is attached to) issued by LJI.

Wordings (to be included in the MRC Global Policy)

MRC wording with Instruction to bind clause (risks located in Japan) (LMA5194).

Interlocking Clause (Japan Endorsement) (LMA 5195) and Japan Endorsement (LMA3131A).


Lloyd's holds various product licences that permit underwriting members to write insurance through its wholly owned subsidiary. Please see Lloyd's Japan Inc. (LJI).


These country profiles and Crystal are provided for information purposes; they do not constitute solicitation of business and are not intended to be a substitute for appropriate professional advice.