The Strike Club, managed by Charles Taylor Plc, has announced they will be seeking a 7.5% general increase for the 2018/9 policy year along with a number of important changes to the cover and structure.

The Club have also made some interesting extensions to the cover, including:

  • Cyber – delays caused by onboard and onshore cyber attacks, subject to Members complying with BIMCO‘s Guidelines on on Cyber Security Onboard Ships
  • Bunker Delays – covering delays arising from removal and replacement of off-specification bunkers to avoid or minimise damage to onboard machinery
  • New perils include delays from damage to the ship caused by stevedores, heavy weather, violent theft, fire or explosion onshore and other environmental eventsBunker

Closing Calls and Release Calls have been updated as follows:

2016/7       20% Closing                 40% Release

2017/8       20% Closing                 40% Release

2018/9       20% Closing                 17% Release

The Club will now use an Estimated Total Premium model for quoting and debiting, based on an Advanced Call and a Final Instalment budgeted at 20% of the Advanced Call and deferred until September after the end of the policy year.

Here is the full Strike Club circular.