Updated 26 November 2016

Since the below announcement by the Club, they have clarified that the premium credit for 2016 is not conditional upon renewing in 2017.  However, for Members who do renew, the premium credit will be offset against the first instalment for 2017/8.

The North of England has announced they will not be seeking a general increase in 2017 and will be returning 5% of mutual premium from 2016/7 year to Members to be offset against the first instalment of 2017/8 premium.

All cargo deductibles below US$25,000 will be increased by at least US$2,000 per deductible, while crew and other deductibles will go up by a minimum of US$1,000.  Mutual and fixed premiums for North’s FD&D cover will also not be subject to a general increase at the February 2017 renewal and there will be no change to deductibles.

Standard and Poor’s confirmed North’s ‘A’ financial strength rating and stable outlook in January 2016 and increased its financial flexibility rating from adequate to strong.

It is the first time that North has issued a credit to members since the mid-1980’s.  The full circular can be found here.

 

Tagged with: , , , , , , ,