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 be increased as follows:

Claims under Article 14 of an LOF salvage agreement shall be subject to a minimum USD50,000

Claims for unrecoverable General Average contributions for vessels over 15 years old shall be subject to a minimum USD50,000 deductible

All other expiring deductibles between USD10,000 and USD25,000 shall be increased by 10%

All deductibles below USD10,000 shall be increased by USD1000 but crew claims shall have a minimum deductible of USD7500

Release calls for the open years have now been set at:

2012/3 – 10%

2013/4 – 20%

2014/5 – 20%

2015/6 -20%

Full details of the Club’s circular can be found at http://www.american-club.com/files/files/cir_34_14.pdf

 

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