UK P&I Club 2015 General Increase announced
At their recent meeting the Directors of the UK P&I Club have agreed on a general increase of 6.5% on P&I premium for at 2015 renewal. In addition, as per previous year, any change in the International Group reinsurance premium will be charged at cost to Members. As part of the effort to maintain underwriting balance, the Club is increasing ...
Continue ReadingGard General Increase 2015 announced
Further to the Board of Directors held this week, Gard has published their mid-year financial results with combined loss ratio of 78% and contingency reserves at USD1,047 million. Following those strong results, the Board has decided that the 2015 General increases for mutual entries will be 2.5% on Advance calls for P&I and 10% for Defence Class. The Deferred Call ...
Continue ReadingEbola Update
The Ebola outbreak in West Africa has caused significant concern and has been shown not to be a local problem for this terrible disease. The worst-hit countries of Liberia, Sierra Leone and Nigeria all have substantial ports with shipping being the main method of import/export of goods. As such, just as with the civil aviation industry, the marine industry has ...
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