December 2020 - Latitude Brokers

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 ...

Swedish 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) ...

Japan P&I Club set 10% GI for 2021

The Board has decided on a 10% General Increase on the Advance Call for 2021 renewal, with estimated supplementary call set at 40% of Advance Call. Rates will be also adjusted according to individual entries performance, and any change in the cost of the IG reinsurance programme. In addition the Club will be increasing deductibles as follows: Crew from USD3,000 ...

Shipowners P&I Club to apply 5% GI for 2021

For the end consecutive year, the Shipowners P&I Club have announced they will apply a 5% General Increase at next renewal. The Club will absorb any adjustment in premium for the International Group excess of loss programme. In addition deductibles below USD50,000 will be increase by 10% and for deductibles below USD5,000 a minimum increase of USD500 will apply. Records ...