Vanessa Toucas, Author at Latitude Brokers

West of England P&I announces 5% general increase for 2019

West announces 5% general increase, citing increased “higher cost claims” and investment volatility. The West of England’s free reserves are forecast to fall for the first time in a number of years to a little under USD 300 million, following an increased frequency of higher cost claims which, compounded by continued volatility in the financial markets, have shown current premium ...

Britannia P&I Club announces nil General Increase for 2019/20

The Britannia P&I Club, managed by Tindall Riley & Co, has announced it will be seeking a nil General Increase for 2019/20 year, with any changes of the International Group Reinsurance costs being passed on to Members in the usual way. The Club will also be seeking to increase minimum deductibles as follows: 2018 2019 Cargo USD12,500 USD14,000 Crew USD3,000 ...

Another Brick in the (Great) Wall for Latitude Brokers

Following our participation to the Sailors Society Hong Kong Challenge in the past 3 years, hiking across HK, we decided to take the challenge to the next level and join the Sailors Society Great Wall of China Challenge for their 200th anniversary. Two Latitude teams entered the Challenge, one from Hong Kong and one from Singapore, and we all congregated ...

A very successful Festive Shipping Food Drive !

Following the success of our previous collaboration with West of England P&I Club to raise funds for Feeding Hong Kong over Christmas drinks, we have decided this year to take it up a notch and to coordinate our Second Shipping Food Drive at the same time. It was all made easy and even more beneficial to FHK thanks to the online ...

Swedish Club announces nil General Increase for 2018/19

The Swedish Club joined the pack on 7th December 2017, announcing that for the 3rd consecutive year, they will not be applying a General Increase for 2018 renewal. More details will follow, but in the meantime, full details are enclosed in their Press release.

Japan P&I Club announces nil General Increase for 2018/19

At their board meeting on 30th November 2017, it was decided that the Japan P&I Club will not impose any General Increase on the Advance Calls for 2018 renewal. Entries will be reviewed and adjusted as necessary depending on their claims performance, and also depending on changes in the GXL costs. The 2018 Supplementary call is set at 40%. In ...

UK P&I Club will not seek any General Increase for 2018

Following on from their recent meeting, the UK P&I Club’s Board has decided that for 2018 policy year: no General Increase will be sought from their Members standard deductible level will remain unchanged the release call will be set at 10% of mutual premium As per previous years, the cost of the GXL programme will be passed on to Members ...

Britannia returns USD10m to Members, and announces Nil General Increase for 2018

Further to Britannia Board meeting on 17 October, the Club has announced that they will not apply any General Increase on P&I and FD&D advance call at 2018 renewal. In addition, the Club will return a further USD10m to mutual Members, based on premium for ships on risk at midnight BST 17 October 2017. The Club has already redistributed USD20 ...

Standard Club advises no General Increase for 2018 and return 5% for 2017

The Standard P&I Club held their board meeting in Hong Kong last week, and have now advised that they will not seek General Increase on the P&I and FD&D Estimated Total Premiums for 2018 policy year. In addition, in view of the satisfactory financial results and the increase in the reserves, the Club will return 5% of mutual call for ...

No General Increase for London Club for 2017

The London Club will be focusing on individual Members’ record and exposure for 2017/18 renewal, and no General Increase will be set on the P&I and the FD&D entries. The release calls on both classes for 2017/18 is 15%. Any adjustment to the IG reinsurance costs programme will be applied to the Members in the usual fashion. The release calls ...