At a Glance – 2021/2022 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 – 5% for ...
Continue ReadingSwedish Club announces 5% GI for 2021
The last Club to announce, the Swedish Club has advised they will 5% General Increase for 2021 P&I renewal as per last year, and 10% for FD&D renewal The Club will also address premium and deductibles adequacy by reviewing loss records individually. Release Calls are set as follows: 2018/19: 5% (P&I) and 0% (FD&D) 2019/20: 12% (P&I) and 0% (FD&D) ...
Continue ReadingLondon P&I Club set General Increase at 10% for 2021
The Club’s Board has set the General Increase at 10% for renewals of their P&I and FD&D classes in February 2021, and will review individual entries for further adjustment as necessary. All P&I deductible will increase by at least USD2,000, and more depending on individual records. Release calls are updated as follows: 2018/19: 5% for P&I and FD&D 2019/20: 12.5% ...
Continue ReadingNorth of England announces 10% GI for 2021
The Club has announces the following remedial measures to address the declining premium levels: 10% General Increase on P&I premium Crew and other people related claims: Deductibles below USD25,000 to be increased by a minimum of USD2,500 Other Deductibles below USD25,000 to be increased by a minimum of USD1,000 5% General Increase on FD&D Premium Release calls (P&I and FD&D ...
Continue ReadingThe American Club announces 5% General Increase for 2021
The Board of the Club has set a 5% General Increase on P&I and FD&D premium for 2021, and will increase all deductibles as follows: deductibles of USD10,000 or less will be increased by USD1,000 other deductibles will be increased by 10%, maximum USD15,000 In addition, individual records will be assessed to further adjust premiums and deductibles as necessary, and ...
Continue ReadingThe 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 ...
Continue ReadingAnother 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 ...
Continue ReadingSkuld renewal update for 2020/21
Pursuing from their position since 2011, Skuld is not applying General Increase anymore, and renewal terms for 2020 will be solely based on individual Members’ records and performance. However the Club has indicated that some rate adjustments will be necessary, and all deductibles below USD25,000 will be increased by USD2,500 and RDC/FFO deductibles will increase to USD50,000. The Club is ...
Continue ReadingLondon P&I Club set GI at 7.5% for 2020
The Club’s Board has set the General Increase at 7.5% for renewals of their P&I and FD&D classes in February 2020. Deductible levels will also be reviewed individually. Release calls are updated as follows: 2017/18: 5% for P&I and FD&D 2018/19: 12.5% for P&I and FD&D 2019/20: 15.0% for P&I and FD&D 2020/21: 15.0% for P&I and FD&D Full details ...
Continue ReadingNorth of England announces 7.5% GI for 2020 renewals
The Board of the Club has decided that a 7.5% general increase on P&I and FD&D premium is necessary for 2020 policy year to address the premium erosion and increased claims environment. The Circular doesn’t make reference to any particular uplift in standard deductibles. The Club’s circular is available on their website as well as the Pre-renewal report.
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