Following the Board’s financial review of the Club they have opted to apply a 7.5% general increase to all expiring mutual premium rates from 20 February 2024.

This is not inclusive of any changes to the International Group Excess of Loss program which will be passed on to the mutual Members.

The Club have also announced increases to deductibles with the directors having mandated all deductibles under USD 50,000 to be increased by 10%, subject to a minimum increase of USD 1,000.  

Release Calls:

2021 policy year: 5%

2022 policy year: 7.5 %

2023 policy year: 10 %

2024 policy year: 15%

Full details of the Club’s position are available in their Circular.