The Club’s Board met on 19 October 2021, and as per last year, whilst they are not setting a general increase, their stated target is to increase Total Calls for 2022 by 12.5%. In order to achieve this objective, they will review and underwrite each Member based on their individual performance and exposure. Any change in the cost of the International Group reinsurance programme will be passed on to the Members in the usual fashion.

The minimum deductibles will be increased as follows:

Crew USD6,000

Cargo USD18,500

All Others USD12,500

With regards to FD&D class, the Club’s target Total Call increase is 15%.

The release calls are adjusted as follows:

2019/20: Nil for P&I and FD&D

2020/21: 5% for P&I and FD&D

2021/22: 7.5% for P&I and 10% for FD&D

2022/23: 15% for P&I and 20% for FD&D

Full details of the Club’s position on 20 Feb 2022 renewal are available in the Circular

The Club has also agreed that there should be a further Capital Distribution of USD25 million for P&I Members as at 19 October 2021, which will be payable from 6 December 2021. Members should refer to the Club’s Circular for specific information regarding the Capital Distribution.

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