For Mutual entries, the Board have agreed on a 2.5% General Increase on P&I Advance Calls and nil General Increase on FD&D Advance Calls.

The forecast additional calls for both classes are set as the same level as the past 2 years, ie 35% of Advance calls, payable in August 2016.

This effectively means that the General Increase on the Estimated Total Calls (ETC) is 2.5% for mutual P&I and Nil for mutual FD&D for 2015 renewal.

West of England General Increase is applicable to the Advance Calls net of the costs of the IGA excess of loss reinsurance programme. The costs of the programme, expected to be finalized in January 2015, will continued to be charged separately to the Members.

For Charterers Liability and Owners’s fixed premium entries, the Club will apply a 2.5% General Increase.

In addition, all deductibles will increase by 10%, subject to minimum USD1,000 and maximum USD2,000 at the same time as the Rules deductible will increase to USD10,000. The Rules deductible is now twice the level of 2011.

The Release calls for 2015 and the open policy years are as follows:

2015 – both P&I and FD&D: 25% of Advance calls

2014 – both P&I and FD&D: 30% of Advance calls

2013 – both P&I and FD&D: 15% of Advance calls

2012 – both P&I and FD&D: 5% of Advance calls

2011 – FD&D: Nil release calls. P&I closed

2010 –FD&D: Nil release calls. P&I closed

The Club’s circular is available here.