Skuld will seek minimum 10% increase on P&I and FD&D for 2022 renewal

Skuld’s Board has set out that a minimum 10% market adjustment, irrespective of Members performance, will be necessary on P&I and FD&D mutual entries to address the significant increase in pool and large claims as well as attritional claims due to Covid. Members with challenging claims record will face additional adjustment.

As usual any change in the costs of the IG reinsurance programme will be passed on to Members.

Non mutual renewals will be assessed based on individual performance and take into consideration the increased costs of reinsurance.

The Release calls remain unchanged for open years ie:

2019/2020: 7.5%

2020/2021: 10%

2021/2022: 15%

2022/2023: 15%

Full details of the Club’s position is available in the Club’s Renewal Circular.