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 m capital to it Members in May 2017.

Whilst there will be no change in P&I deductible level, the Club will pay the first USD7,500 of each FD&D claim (from USD5,000) which would result in most FD&D claims not being subject to any deductible. For claims in excess of USD7,500, the member is expected to cover one third of the costs.

Britannia, the oldest P&I Club has also unveiled their new branding, check out their new website !

You can find the Club’s announcement here.

 

 

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