Swedish Club apply 7.5% General Increase for 2024/25 Policy Year
The Swedish Club have echoed general Club sentiment that over the past 12 months there has been inflationary pressure, volatile investment returns and geopolitical uncertainty. As a result they have opted to apply a 7.5% general increase to expiring P&I and FD&D premiums.
Any changes to the General Excess of Loss program will be applied on top of this increase.
In terms of deductibles a minimum increase of USD 1,000 will apply to deductibles below the following levels:
Cargo USD 15,000
Crew USD 10,000
Third Party USD 25,000
Other USD 10,000
Finally, the release call for the 2024/25 policy year has been set at 15%.