Cyber Risks – Shipping needs a new Policy wording
We were invited to present to the 5th Asia Marine Insurance Conference in Hong Kong during Hong Kong Maritime Week on Cyber Risks in Shipping. Cyber Risks Presentation to Asia Marine Insurance Conference, November 2017 We took the opportunity to invite the audience of insurers to create a marine cyber product, focused on the shipping market. We believe operators need a ...
Continue ReadingAmerican Club announces nil General Increase for 2018/9
The American Club has announced they will be seeking a nil General Increase for the 2018/9 year across both P&I and FD&D classes. There will be no change to standard deductibles and the open years/Release Calls have been updated as follows: 2015/6 – 5% 2016/7 – 15% 2017/8 – 20% 2018/9 – 20% The full Club circular can be found ...
Continue ReadingAt a Glance – P&I Club General Increases 2018/9
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 – 0% for ...
Continue ReadingGard announces nil General Increase for 2018/9
Gard have announced they will be seeking a nil General Increase for P&I and FD&D for the 2018 year. There will be no change in standard deductibles. Open policy years: 2015 is anticipated to be closed without any further Calls. Release Call set at 5% 2016 is anticipated to be closed without any further Calls. Release Call set at 5% ...
Continue ReadingThe Strike Club announces General Increase and changes for 2018/9 year
The Strike Club, managed by Charles Taylor Plc, has announced they will be seeking a 7.5% general increase for the 2018/9 policy year along with a number of important changes to the cover and structure. The Club have also made some interesting extensions to the cover, including: Cyber – delays caused by onboard and onshore cyber attacks, subject to Members ...
Continue ReadingWest of England announces nil General Increase for 2018
The West of England has announced they will be seeking a nil General Increase (referred to as a standard surcharge) for P&I and FD&D renewals in 2018. Group Reinsurance costs will be charged as fixed costs per GT as per existing practice. P&I deductibles will be increased by USD1000 to a minimum USD12,000 and individual entries that carry deductibles below that ...
Continue ReadingAt a glance – IG Club General Increases for 2017
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 – 0% for ...
Continue ReadingNo General Increase for London Club for 2017
The London Club will be focusing on individual Members’ record and exposure for 2017/18 renewal, and no General Increase will be set on the P&I and the FD&D entries. The release calls on both classes for 2017/18 is 15%. Any adjustment to the IG reinsurance costs programme will be applied to the Members in the usual fashion. The release calls ...
Continue ReadingJapan P&I Club announces nil General Increase for 2017
The Japan P&I Club has announced they will be seeking nil General Increase for the Advanced Call for the 2017 policy year, with the Supplementary Call remaining at 40% of the Advanced. FD&D entries will also be subject to a nil General Increase. In addition, the Club has updated the Release Calls on open years as follows: 2017 – 45% 2016 ...
Continue ReadingNorth of England announces nil General Increase for 2017 and 5% Credit on 2016 year (Updated)
Updated 26 November 2016 Since the below announcement by the Club, they have clarified that the premium credit for 2016 is not conditional upon renewing in 2017. However, for Members who do renew, the premium credit will be offset against the first instalment for 2017/8. The North of England has announced they will not be seeking a general increase in ...
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