Newbuildings Archives - Latitude Brokers

Skuld 2016/7 Renewal Update announced

Skuld will continue to underwrite their 2016/7 policy renewals based on individual Member’s records rather than announcing a General Increase, so their announcement is different to other IG Clubs. They will pass on any changes in the IG GXL Reinsurance costs to Members when they are finalized. However, Skuld have announced their mutual Members will receive a guaranteed premium credit equivalent ...

UK Defence Club announces 2016 General Increase

The UK Defence Club, managed by Thomas Miller, has announced a nil General Increase for 2016. The UK Defence Club is a specialist mutual solely providing FD&D cover for their members on a standalone basis. In addition, the Club is offering for the second year, a Continuity Credit (taken as a reduction from the quoted 2016/7 premium) to existing members ...

Claims Alert – Valuations, Fair Market Values and Disclosure

We are grateful to Waltons & Morse for their recent briefing in respect of a claim made by an Assured for the total loss of a superyacht that was over-valued in a hull policy. The facts are as detailed in the briefing, but we are concentrating on two main aspects: the Assured over-valued the yacht in question; and did not disclose ...

Newbuilding Program – Insurance Contract Review

According to RS Platou’s October 2014 Monthly Newsletter, there have been 748 newbuildings ordered for the year to date, with 2463 vessels due for delivery from now to 2016 and beyond. Whilst we do not intend to comment on the reasons for that here, what we do know is that for many stakeholders, insurance is a long way down the ...