The Club will pursue its strategy towards sustainable underwriting results, and have therefore announced a 12.5% General increase on Members’ P&I and FD&D rates for 2022 Policy year, as well as 10% increase of all P&I deductibles, subject to a minimum increase on crew and cargo deductibles of USD2,500 and on collision and FFO of USD7,500.

Entries will be reviewed individually and terms and conditions adjusted as necessary according to performance and risk exposure. In addition, as per usual, any adjustment in the cost of the IG excess of loss reinsurance programme will be passed onto Members.

Release calls for P&I and FD&D are confirmed as follows:

2019/2020: Nil

2020/2021: 6%

2021/2022: 12.5%

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