West of England announces 7.5% General increase on P&I for 2024

Notwithstanding the Club’s strong performance this year, the Board acknowledged that increase in premium is still necessary to meet the inflationary costs of claims in order to achieve underwriting balance. As a result, the Board has announced as follows: Notwithstanding the above, the Club will review individual risk profiles to determine any further adjustment required. As per usual practice, any ...

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West of England Credit Rating boosted to A- by AM Best

Following West’s very strong balance sheet, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management, AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to West of England Ship Owners Mutual Insurance Association (West or WOE) (Luxembourg). The outlook assigned to these Credit ...

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West of England P&I announces 5% general increase for 2019

West announces 5% general increase, citing increased “higher cost claims” and investment volatility. The West of England’s free reserves are forecast to fall for the first time in a number of years to a little under USD 300 million, following an increased frequency of higher cost claims which, compounded by continued volatility in the financial markets, have shown current premium ...

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West of England announces nil General Increase for 2018

The West of England has announced they will be seeking a nil General Increase (referred to as a standard surcharge) for P&I and FD&D renewals in 2018. Group Reinsurance costs will be charged as fixed costs per GT as per existing practice. P&I deductibles will be increased by USD1000 to a minimum USD12,000 and individual entries that carry deductibles below that ...

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Nil General Increase for West of England

Further to the Club’s Board meeting earlier this week, West of England has announced that they will not apply any General Increase on Advance Calls at 2017 renewal across their Owners P&I, Charterers’ Liability and FD&D entries for the second consecutive year. The Forecast Additional Call (due on or before 20 August 2018) is set at 35% of the Advance ...

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Latitude coordinates the First Shipping Food Drive for Feeding Hong Kong

In June, Latitude Brokers coordinated the First Shipping Food Drive for Feeding Hong Kong. Feeding Hong Kong work  with food retailers, distributors and manufacturers to rescue surplus that would otherwise be discarded and re-distribute it to the people in need. But from week to week, the volumes of food donated to Feeding Hong Kong go up and down and the ...

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