The London Club has announced a nil General Increase for the 2019/20 policy year with any change in the Group reinsurance costs being passed onto the membership. There will be no change in the standard deductibles on a club wide basis however individual member’s deductibles will be scrutinized. This absence of a General Increase also applies to the Club’s Defence class.
The club justified its decision on the basis of a benign experience of high severity claims within retention and pool claims liabilities coming in at anticipated levels.
The Release Calls for both P&I and FD&D are updated as follows:
2016: 5% of annual call
2017: 12.5% of annual call
2018: 15.0% of annual call
Further information on the open policy years, release calls and payment arrangements can be found in the Club’s Circular.