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The UK Club announces 10% GI for 2021

The Board of the UK Club has decided to set the General Increase for 2021 P&I entries at 10%, in order to address the premium deficit. Any change in the IG reinsurance costs will be passed on to Members as per usual. Release calls: 2018:5% 2019: 10% 2020: 15% 2021: 20% Full details of the Club’s circular is available on ...

Skuld update for 2021 renewal

Skuld’s objective for 2021 renewal is to improve the mutual underwriting performance, and the Club has confirmed that as per the past 10 years, they will review entries individually to ensure sustainability of the Members’ portfolio. Release calls are set as follows: 2018/19: 7.5% 2019/20: 10% 2020/21: 15% 2021/22: 15% Full details of Skuld renewal update is available in their ...

Gard to seek modest increase on 2021 P&I premium

Gard has announced that they will be seeking individual increases on P&I entries, instead of a General Increase, to progress towards their 102.5% Combined Ratio objective for 2021. The Club has also confirmed that they will not be calling the full premium for 2019, and instead grant a 5% reduction on the ETC for this year. In addition the Club ...

Standard Club sets GI at 10% for 2021

The Board of the Standard Club has set the General Increase at 10% of Members’ P&I premium for 2021, but also specified that for Members with adverse records, the further adjustment to address individual performance and inadequate level of premium could be significant. No General increase will apply on the FD&D Class. Release calls set earlier this year remain unchanged: ...

Another capital distribution from Britannia

As announced last year, the Club is not applying General Increase anymore, however following the Board meeting last week, Britannia has advised that they will be seeking to increase the Club’s current ETC levels for 2021 renewal, by way of reviewing Member’s individual record, with any adjustment in the IG Reinsurance programme cost being passed on to Members. Minimum P&I ...

West of England announces 7.5% GI for 2021

The Club’s Board has decided to implement a 7.5% General Increase on P&I and FD&D mutual rates for 2021 policy year, and will further adjust rates for entries with adverse loss records. Standard P&I deductibles will be set at USD14,000, with deductibles below this level increased by USD2,500, but no change to FD&D standard deductible. Mutual rates will be adjusted ...

Steamship sets 2021 General Increase at 5%

The Steamship Mutual has announced their General Increase for 2021/22, set at 5% for P&I and FD&D. In addition, standard FD&D deductible will be increased to USD7,500 with USD50,000 cap, and abatement layer is revised to USD3.5 million (from USD1.8 million) with no coinsurance. The rates will be further corrected as per Member’s individual exposure and adjusted once the costs ...

Joint War Committee updates War Listed Areas on 21st September 2020

On 21st September 2020, the Joint War Committee in London has updated the War Listed Areas to JWLA-025, to extend the Gulf of Guinea area as follows: Gulf of Guinea The waters enclosed by the following boundaries: a)On the west, from the coast of Togo 6° 06′ 45″ N, 1°12′E, south to b)high seas point 0° 40′ S, 3° 00′ ...

At a Glance – 2020/2021 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 use for real time data comparison: American Club – 0% for ...

Swedish Club announces 5% GI

The last Club to announce, the Swedish Club, has now joined the pack of Clubs seeking GI for 2020 P&I renewals, albeit at a slightly lower level than the majority, with a 5% General Increase. The Club will also address premium adequacy by reviewing loss records individually. No General Increase will be applicable on FD&D entries. Release Calls are set ...