Vanessa Toucas, Author at Latitude Brokers

Latitude Brokers appoint Matt Cannock as Managing Director, Singapore

PRESS RELEASE – 8 March 2022 FOR IMMEDIATE DISTRIBUTION Media Contacts: Saraid Mc Carrick – Filhet-Allard Maritime +33 5 57 53 39 05 [email protected] Andrew Brooker – Latitude Brokers +852 2154 2253 [email protected] Latitude Brokers appoints Matt Cannock as Managing Director, Singapore Bordeaux & Hong Kong, 8 March 2022 Latitude Brokers, recently acquired by Filhet-Allard Maritime, have appointed Matt Cannock ...

Joint War Committee updates War Listed Areas on 15th February 2022

On 15th February 2022, the Joint War Committee have updated the Hull War, Piracy, Terrorism and Related Listed Areas to JWLA-028: Added Europe Ukrainian and Russian waters in the Black Sea and the Sea of Azov Should you require any assistance regarding War Risks, please do not hesitate to contact us.

International Group reinsurance costs to increase by 33%

After months of rumors of a significant increase to the costs of the GXL placement, the Chairman of the International Group Reinsurance Subcommittee has now announced the 2022 rates to be as follows: Persistent Oil tankers + 15% / $0.6469/GT Clean Tankers +40% / $0.3666/GT Dry +40% / $0.5639/GT Containerships +55% / $0.6586/GT Passenger +18.6% / $3.8677/GT Chartered Tankers +33% ...

At a Glance – 2022/2023 P&I Renewals

The following is solely in respect of the Mutual P&I entries and excludes FD&D, fixed premium entries and charterer’s liability. The headline General Increase numbers are as follows and will be updated as each Club announces – click on each Club’s link to see the full GI announcement or for real time data comparison, use American Club – 12.5% GI ...

Swedish Club announces 12.5% GI for 2022

The last IG Club to announce their position for 2022 P&I renewal, the Swedish Club has now advised that they are seeking a 12.5% General Increase for 2022. The Circular is not yet available but the Press release is available here.

Filhet-Allard Maritime acquires controlling stake in Latitude Brokers

PRESS RELEASE – 8 December 2021 FOR IMMEDIATE DISTRIBUTION Media Contacts: Saraid Mc Carrick – Filhet-Allard Maritime +33 5 57 53 39 05 [email protected] Andrew Brooker – Latitude Brokers +852 2154 2253 [email protected] Filhet-Allard Maritime acquires controlling stake in Latitude Brokers Bordeaux & Hong Kong, December 8th, 2021 Filhet-Allard Maritime, the France-based leading insurance broker for the commodities trading, shipping ...

North of England declares 15% increase for 2022

The Club has declared a 15% General Increase on rates at 2022 renewal, which they are breaking down in two parts: 7.5% to address the rising costs of the Club’s contribution to Pool claims and 7.5% to address the underwriting deficit. In addition, Members’ individual records will be assessed and their Terms and Conditions adjusted as necessary. All deductibles below ...

The American P&I Club announces 12.5% GI for 2022 and more supplementary calls

Following the Club’s Circular dated 25 June 2021 on Annual Report and Accounts for 2020, the Board has determined that the premium earned but unbilled (EBUB) for 2018 and 2019, should now be billed in the form of supplementary calls: 2018: 15% supplementary call on current ETP 2019: 35% supplementary call on current ETP With regards to 2020 Policy year, ...

Gard will seek premium increases but no GI

Gard has determined that whilst P&I premiums will have to be increased for 2022 policy year, they will not apply a General Increase at 20 February, but instead they will adjust individual rates based on risk and claim performance. Notwithstanding the increase, the Club will provide a 5% Owners’ General Discount on the thus agreed 2022 ETC. Any increase in ...

Japan P&I Club announces 10% GI for 2022

The Japan P&I Club has announced 10% General increase on P&I Advance Call rates and FD&D premiums for 2022 renewal, with estimated supplementary calls set at 40% for P&I and 20% for FD&D as per previous years. Charterers entries will also be subject to 10% General Increase in Premium. In addition Members’ rates will be adjusted according to their own ...