North of England P&I Club announces nil General Increase for 2018/9
The North of England P&I Club has announced they will be seeking a nil general increase at the 2017/8 renewal. The Club will also be increasing all deductibles below USD25,000 by a minimum of USD1000 per deductible. Release Calls for both P&I and FD&D have been updated as follows: 2015/6 – 0% 2016/7 – 5% 2017/8 – 15% 2018/9 – ...
Continue ReadingLondon P&I Club will not seek any General Increase for 2018 renewal
The London P&I Club, managed by A. Bilbrough & Co, has announced they will be seeking a nil General Increase for the 2018/9 policy year in both P&I and FD&D classes. There will be an increase in deductibles of USD2000 for crew/people claims and USD1000 for all other deductibles. The Release Calls for open years have been amended to the ...
Continue ReadingSteamship Mutual announces nil General Increase for 2018 and return 10%
Following the Club’s Board meeting on 24 October, Steamship Mutual have announced there will be no General Increase for the 2018/9 policy year. The Club are also not seeking an increase to the minimum deductibles. In addition, the Club will return 10% of premium paid on P&I Mutual entries in 2015 policy year to Members, to be credited immediately in November ...
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 ReadingInternational Group Reinsurance (GXL) Renewal 2017
The IG Clubs have completed the negotiations for the GXL renewal for the 2017 policy with a favourable result for owners. The IG Clubs pass on savings (and increases) to their Members at cost, so any reduction will translate directly to owner Members in their 2017 renewals. The Clubs increased their retention to USD10m at 20 February 2016 which remains ...
Continue ReadingSwedish Club announces nil General Increase for 2017
The Swedish Club has announced they will be seeking a nil General Increase for the 2017 renewals. The Club will not increase deductibles or make other changes to the cover, aside from increasing the FD&D limit to USD10m (up from USD5m). No further information was provided, but the full Circular can be found here.
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 ...
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