The Club’s Board has decided that a 5% General Increase should be applied for 2024, in order to address the rising costs of claims due to inflation. The increase will not apply to the Yacht sector, who faced a 10% Increase at 2023 renewal.

The Club will as usual review individual Members risk profile and performance to further adjust premium and deductibles as necessary.

Unlike the other Clubs, renewal premiums quoted by the Club will be including any adjustment to the IG reinsurance costs.

Finally the Shipowners Club does not require Release Calls from Members.

Full details of the Club’s announcement are available in their Circular.