At their recent meeting the Directors of the UK P&I Club have agreed on a general increase of 2.5% on P&I premium at the 2016 renewal. In addition, as per previous years, any change in the International Group reinsurance premium will be charged at cost to Members.

The Club is maintaining the standard deductible at USD10,000 with no change this year.

The Club has further confirmed there are no supplementary calls estimated for the open policy years, and the Release Calls have been  updated as follows:

2015 policy year: 10%

2014 policy year: 0%*

2013 policy year: 5%

* The Board has declared a Mutual Premium Discount of 2.5% on the total mutual call for 2014 policy year.This discount will be applied by way of a credit to the final instalment of the 2014 policy year mutual premium and will amount to a 10% reduction for all mutual Members for that instalment.

The circulars regarding the Board Meeting are available on the UK P&I Club’s website or directly here.

 

 

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