Выражение встречается в следующем контексте:
LONDON MARKET INDEX CLAUSE
(A) In the event of any loss hereunder the retention of the REINSURED and the limit of liability of
the REINSURER(S) shall be adjusted by reference to an index, as hereinafter defined, for the
period embracing ... 2005. The index for the period embracing the above mentioned date shall be called the BASE INDEX.

Заранее спасибо