Latitude Brokers

Joint War Committee updates War Listed Areas on 15th February 2022

On 15th February 2022, the Joint War Committee have updated the Hull War, Piracy, Terrorism and Related Listed Areas to JWLA-028: Added Europe Ukrainian and Russian waters in the Black Sea and the Sea of Azov Should you require any assistance regarding War Risks, please do not hesitate to contact us.

At a Glance – 2022/2023 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 for real time data comparison, use American Club – 12.5% GI ...

Swedish Club announces 12.5% GI for 2022

The last IG Club to announce their position for 2022 P&I renewal, the Swedish Club has now advised that they are seeking a 12.5% General Increase for 2022. The Circular is not yet available but the Press release is available here.

Filhet-Allard Maritime acquires controlling stake in Latitude Brokers

PRESS RELEASE – 8 December 2021 FOR IMMEDIATE DISTRIBUTION Media Contacts: Saraid Mc Carrick – Filhet-Allard Maritime +33 5 57 53 39 05 [email protected] Andrew Brooker – Latitude Brokers +852 2154 2253 [email protected] Filhet-Allard Maritime acquires controlling stake in Latitude Brokers Bordeaux & Hong Kong, December 8th, 2021 Filhet-Allard Maritime, the France-based leading insurance broker for the commodities trading, shipping ...

North of England declares 15% increase for 2022

The Club has declared a 15% General Increase on rates at 2022 renewal, which they are breaking down in two parts: 7.5% to address the rising costs of the Club’s contribution to Pool claims and 7.5% to address the underwriting deficit. In addition, Members’ individual records will be assessed and their Terms and Conditions adjusted as necessary. All deductibles below ...

Steamship Mutual announces 12.5% GI for 2022, and increases Release Calls for open years

Taking into account the Club’s underwriting results in excess of 100%, the Board has decided that a 12.5% General Increase will apply on all all classes of business, which would include P&I, FD&D and Charterers Liability. Individual Members rating will be also adjusted according to their performance and adjustment to the costs of the IG GXL programme will be passed ...

West of England opens GI announcements with 15% for 2022

At the meeting on 12 October, The Board of Directors have decided to take further actions to address the technical deficit and combined ratio expected to be in excess of 100% for this year again: they have accordingly announced a 15% General Increase on mutual P&I rates for 20 February 2022, with de-risking actions and further adjustments for Members with ...

London P&I Club levies Supplementary calls

The Club’s Board has decided to call for unbudgeted supplementary calls on the last 3 open policy years (2019, 2020 and 2021) in order to address the underwriting deficit, which have resulted in combined loss ratios of 137% in 2019/20 and 136.7% in 2020/21. This is the first time since 2008 that the London Club raises Supplementary calls. The Club ...

Indian Ocean Piracy HRA reduced from 1st Sept 2021

Following the downward trend in Somali Piracy, leading shipping organisations BIMCO, ICF, INTERTANKO, INTERCARGO and OCIMF have agreed to reduce the geographical limits of the High Risk Area in the Indian Ocean, to the Yemeni and Somali Territorial Seas and EEZ on the eastern and southern limits, with effect from 1st September 2021. The new coordinates of the HRA are: ...

Joint War Committee updates War Listed Areas on 26th and 29th April 2021

On 26th April 2021, the Joint War Committee have updated the Hull War, Piracy, Terrorism and Related Perils Listed Areas to JWLA-026: Added Cabo Delgado The waters within 50 nautical miles of Mozambique and Tanzania enclosed by the following boundaries: a) To the north, from Mnazi Bay at 10°19.6’S, 40°18.9E’ to high seas point at 9°50.7’S, 41°7.6’E. b) To the ...