Gard confirms Nil GI for 2020
Gard’s board of directors have decided that no General Increase was necessary for 2020 Owners mutual entries., with last instalment set at 20% of ETC. The Club confirms 20% reduction in ETC for policy year 2016 and 2017, whilst 2018 is expected to be closed with 10% reduction on ETC. Last premium installment for 2019 remains 20% of ETC at ...
Continue ReadingUK P&I Club seeks 7.5% overall increase for 2020 policy year
The Board of the UK Club has decided to address the premium deficit by targeting a 7.5% premium increase overall, rather than by setting a General Increase. Each Member will be reviewed based on their risks exposure and current level of premiums, in order to achieve a 7.5% increase across the Club’s membership. In addition for 2020 policy, the standard ...
Continue ReadingStandard Club sets GI at 7.5% for 2020
The Board of the Standard Club has re-affirmed their commitment to the concept of General Increase and as set a 7.5% GI on Members’ P&I ETP for 2020, with 10% increase on deductibles, or USD2,000 whichever is the highest. FD&D will also see an uplift of 7.5% as GI for February 2020 renewal. 2018/19 and 2019/20 ETP remain unchanged, as ...
Continue ReadingSteamship Mutual announces 7.5% GI for 2020
The Steamship Mutual has announced their General Increase for 2020/21, set at 7.5% for P&I and FD&D, with an uplift of USD2,000 in lower level P&I deductibles. At the same time, the Club has also decided to return 7.5% of 2019/2020 mutual P&I premium to their Members, for vessels renewing in 2020. This represents around USD17 million capital redistribution. Release ...
Continue ReadingBritannia P&I Club quash GI from 2020
As Britannia is opening the round of P&I announcements for 2020/21 renewals, the Club has decided to follow in the footstep of Skuld and to not seek General Increase across their membership anymore, starting from 20 February 2020 for both P&I and FD&D. Rates will be reviewed and adjusted based on each Member’s individual record only, with any adjustment in ...
Continue ReadingJoint War Committee updates War Listed Areas on 17 May 2019
One week after the reported attacks against 4 vessels in the Gulf of Oman, the Joint War Committee in London has updated the War Listed Areas to JWLA-024 17 May 2019 – applicable to Hull War, Piracy, Terrorism and Related Perils. The additions to the existing Listed Areas are: Oman UAE Arabian or Persian Gulf West of 58 deg East Saudi ...
Continue ReadingUS Government partial shutdown disrupts COFR applications and renewals
SIGCo, one of the largest COFR guaranty providers, for vessels calling the US, have just released the attached Circular advising all COFR Members of severe disruption of operations at the US Coast Guards and the National Pollution Funds Centre, with applications not being processed any more at present. We recommend that all operators planning on renewing or applying for new COFR ...
Continue ReadingFestive Christmas drinks for a good cause, with the West of England
Continuing for the 4th year with what is now an industry tradition, West of England and Latitude Brokers hosted festive drinks with industry partners to raise funds in support of Feeding Hong Kong. P&I Clubs, lawyers, surveyors, brokers gathered in a casual and friendly spirit on 13 December around the West of England’s Christmas tree, to share a glass or ...
Continue ReadingAt a Glance – 2019/20 P&I General Increase
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 ReadingThe Swedish Club announces Nil General Increase for 2019 renewal
The Club’s board anticipates the current underwriting year to be in balance and therefore to continue supporting their Members, they have advised that no general increase will be sought for 2019 P&I renewal. They want to ensure however that premiums are commensurate with exposure, and therefore Members’ premium will be adjusted according to individual exposure. The Club’s release calls remain ...
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