UK Defence Club announces 2015 General Increase
The UK Defence Club, the specialist FD&D standalone mutual managed by Thomas Miller Defence Ltd, has announced there will be no General Increase for mutual FD&D entries for the 2015/6 policy year. In addition, the Club has announced it will offer a Continuity Credit (taken as a reduction from the quoted 2015/6 premium) to existing members who renew in 2015/6 ...
Continue ReadingLondon P&I Club announces 2015 General Increase
A.Bilbrough & Co, managers of the London P&I Club, have announced the Club will seek a general increase of 6% in Annual Call Rates for the 2015/6 Policy Years for both mutual P&I and FD&D entries. The Club will increase P&I deductibles that are below USD15,000 by USD2000, with FD&D deductibles remaining unchanged. The Club have set Release Calls for ...
Continue ReadingHanseatic P&I to open in Shanghai
Hanseatic P&I, the Hamburg and London based specialist fixed premium P&I provider has been granted a licence to open an office in Shanghai. The office will concentrate on claims and business development with the office having opened this month. This marks a further commitment to the Asia region, with Hanseatic staff speaking Mandarin and English to serve the local Chinese ...
Continue ReadingAmerican P&I Club 2015 General Increase announced
The American Club has announced a 4.5% General Increase will apply to all mutual premium P&I entries in 2015. This shall be placed against the Estimated Total Premium. The following classes will also be subject to a 4.5% General Increase: Mutual and Fixed premium FD&D Fixed premium P&I Damage to Hull (DTH) for charterers cover In addition, all deductibles will ...
Continue ReadingStandard P&I Club announces 2015 General Increase
The Standard Club has announced a 5% general increase will be applied to all mutual P&I premiums at the 2015 renewal. All deductibles will increase by 10% and, importantly, the Club will now apply deductibles to correspondent’s, survey and legal fees. A change to the Club Rules will be made to reflect this. Steel pre-loading surveys will only be paid ...
Continue ReadingUnison Creative wins award for Latitude Brand
Unison Creative won an award for Best Creative Development of a New Brand for their work with us at the inaugural Transform APAC awards ceremony last night. We are very proud of our collaboration with Unison Creative and we are very proud of our brand – we believe it defines who we are, what we do and how we do it, ...
Continue ReadingNewbuilding Program – Insurance Contract Review
According to RS Platou’s October 2014 Monthly Newsletter, there have been 748 newbuildings ordered for the year to date, with 2463 vessels due for delivery from now to 2016 and beyond. Whilst we do not intend to comment on the reasons for that here, what we do know is that for many stakeholders, insurance is a long way down the ...
Continue ReadingNHC increase Charterer’s Liability limits to USD500m from 1st January 2015
The Norwegian Hull Club’s specialist Charterer’s Liability underwriting arm will, from 1st January 2015, be able to offer up to a USD500m limit of liability. Whilst not every charterer (or more frequently, owner) demands USD500m of cover, other markets in the form of many of the International Group (IG) Clubs, The Charterers Club and Raetsmarine, already write to USD500m. Charterama BV ...
Continue ReadingFixed Premium P&I market increasing limits offered for 2015 renewals
Whilst the International Group P&I Clubs are announcing their General Increases for the forthcoming year, the fixed premium markets are busy increasing their limits in advance of the P&I renewal season in 2015. In no particular order: Skuld’s fixed premium product, British Marine (part of the QBE Group) and Hydor all offer USD1bn; Lodestar currently write to USD500m, but are ...
Continue ReadingNorth of England Club 2015 General Increase announced
North of England have announced a 4.75% General Increase for all P&I mutual entries for 2015, which is broken down between a minimum mandatory increase per member of 2.5% and an increase for record. The General Increase reflects the Club’s increase in Pool contributions which has risen to a more comparable level with the Club’s tonnage as a result of ...
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