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 ...

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Hanseatic 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 ...

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American 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 ...

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Standard 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 ...

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NHC 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 ...

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Fixed 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 ...

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