General Increase Archives - Latitude Brokers

Gard will levy an average 5% premium increase for 2026 and confirms 10% OGD

The Club will return 10% of Estimated Total Call to Owners renewing with Gard for the 2026 policy year. However in view of inflation and claims costs, and the need to maintain stability of in the portfolio, the Board has decided that an average 5% premium increase should be levied on ETC for 2026 renewal. Individual assessments will be made ...

UK P&I Club sets General Increase at 7.5% for 2026 renewal

UK P&I Club sets General Increase at 7.5% for 2026 renewal The reported pool claims so far in the current Underwriting year are pointing towards a challenging pool year, whilst quantum of attritional claims continue to rise. On this basis the Club’s Board has decided to seek a 7.5% General increase on P&I for 2026 renewal, together with a 10% ...

At a glance – 2026/2027 P&I Renewals

Unless specifically mentioned the following is 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. GXL (reinsurance) rate changes are passed on to Members unless ...

Shipowners’ Club calls for 5% General Increase for 2026 & announce new CEO

The Board observed that prior years continue to develop ahead of budget, at the same time as Pool Claims are at a high level. In order to address the imbalance between premium and claims and sustain the Club’s objective of a break even combined ratio, the Club will apply a 5% General increase for 2026 renewal, inclusive of any changes ...

Steamship Mutual opens the 2026 renewal season with 8% General Increase

The Club highlighted a number of difficulties in 2025 as they head into the 2026 policy year. There has been a second successive year of high pool claim numbers, in addition to deterioration on the prior year’s pool claims, in quantum as well as in number. The Club have also seen their retained claims developing worse than budget. As such ...

At a glance – 2025/2026 P&I Renewals

Unless specifically mentioned the following is 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. GXL (reinsurance) rate changes passed on to Members unless otherwise ...

NorthStandard’s Coastal and Inland class announce 6.5% General Increase

Coastal and Inland class (C&I) have broken a 14 year streak of no General Increase and announced a 6.5% rise in P&I premiums for the 2025/26 policy year. This is 1.5% higher than the GI announced by the main Club and follows a difficult year for the class who were hit by their first ever pool claim. Following 14 years ...

American Club announce 7% target rise in premiums for 2025/26

The American Club have announced no GI this year with rates being adjusted based on Member’s records, but subject to a target 7% rise overall for all main classes of business. The IG reinsurance adjustments will be charged in addition to any rise required. In addition to the premium uplifts the Club have announced a general deductible rise of 10% ...

Japan P&I announces 7% GI for Owners P&I and Chartered entries

JPI have released their 2025/26 renewal circular which details their requirements for a 7% General Increase for their Owners P&I and Charterers Liability entries. There will be no GI for FDD entries. As always, reinsurance rate adjustments will be passed on to the Membership. The Club have had a relatively good year with their latest published combined ratio for 2023 ...

Shipowners Club announce nil GI for 2025/26 policy year

The Shipowners Club have bucked the trend of required increases for the 2025/26 policy year becoming the only Club to announce a nil GI. Crucially, the Club have also announced that premiums offered at renewal would be inclusive of any adjustment to reinsurance costs. This is worded to allow the Club to raise premiums where the retained premium is insufficient ...