The Standard Club has announced a 5% general increase will be applied to all mutual P&I premiums at the 2015 renewal.  All deductibles will increase by 10% and, importantly, the Club will now apply deductibles to correspondent’s, survey and legal fees.  A change to the Club Rules will be made to reflect this.  Steel pre-loading surveys will only be paid by the Club with prior agreement of the Managers.

A 5% general increase will be applied to the FD&D and non-pooled risks (except vessels insured under the Standard Offshore Rules which shall be as expiring).

Open years Release Calls have been set at:

2012/3 – 3%

2013/4 – 4%

2014/5 – 8%

No additional calls above the Estimated Total Premium are anticipated.

Full details of the Club’s circular can be found here.

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