American Club announce 7% target rise in premiums for 2025/26
The American Club have announced no GI this year with rates being adjusted based on Member’s records, but subject to a target 7% rise overall for all main classes of business. The IG reinsurance adjustments will be charged in addition to any rise required. In addition to the premium uplifts the Club have announced a general deductible rise of 10% ...
Continue ReadingAmerican Club Announces 35% Supplementary Call for 2022 Policy Year
The American Club have released their 2024 circular relating to the development of closed and open policy years. The circular starts by stating that the Club has seen a small increase in gross written premium and a positive development on their closed policy years. However, with regard to the 2022 policy year, the Club have announced an unbudgeted supplementary call ...
Continue ReadingAnother round of supplementary calls and 10% Overall increase in 2023 for American Club Membership
The Club has announced that in order to address the negative development of 2021 Policy year re pool claims and retained exposure, they will levy a 30% unbudgeted supplementary call on 2021 P&I premium, to be collected in October 2023 and January 2024. Furthermore the Club has decided not to have any standardized, or general increase for year 2023. Instead, ...
Continue ReadingThe American Club announces 5% General Increase for 2021
The Board of the Club has set a 5% General Increase on P&I and FD&D premium for 2021, and will increase all deductibles as follows: deductibles of USD10,000 or less will be increased by USD1,000 other deductibles will be increased by 10%, maximum USD15,000 In addition, individual records will be assessed to further adjust premiums and deductibles as necessary, and ...
Continue ReadingThe American P&I Club levies supplementary calls on back years at 2020 renewal
The Club’s board has decided that a standardized increase for 2020 is not the way for the Club to address the need to improve underwriting results , given the difference in risk profile and current premium level of their membership. The Club will however seek to achieve an increase in premium for 2020, based on individual profile. The Club is ...
Continue ReadingAmerican Club announces nil General Increase for 2019
The American P&I Club has announced that no General Increase will apply to both P&I and FDD classes at the upcoming renewal, citing the need to be sympathetic towards shipowners who continue to be faced by a challenging shipping market, coupled with a favourable development with respect to the club’s claims in the current year. There will be no deductible ...
Continue ReadingAmerican Club announces nil General Increase for 2018/9
The American Club has announced they will be seeking a nil General Increase for the 2018/9 year across both P&I and FD&D classes. There will be no change to standard deductibles and the open years/Release Calls have been updated as follows: 2015/6 – 5% 2016/7 – 15% 2017/8 – 20% 2018/9 – 20% The full Club circular can be found ...
Continue ReadingAt a glance – IG Club General Increases for 2017
The following is solely in respect of the Mutual P&I entries and excludes FD&D, fixed premium entries and charterer’s liability. The headline General Increase numbers are as follows and will be updated as each Club announces – click on each Club’s link to see the full GI announcement or use for real time data comparison: American Club – 0% for ...
Continue ReadingAmerican Club announces nil General Increase for 2017
The American Club has announced they will not be seeking a General Increase for 2017 on their mutual or fixed P&I and FD&D entries. The Club has updated their Release Calls on open years as follows: 2017 – 20% 2016 – 20% 2015 – 15% 2014 – 12/5% In addition, the Club has increased the following deductibles: SCOPIC claims to ...
Continue ReadingOverview of 2016 IG P&I Club General Increases (Final)
The following is solely in respect of the Mutual P&I entries and excludes FD&D, fixed premium entries and charterer’s liability. The headline General Increase numbers are as follows and will be updated as each Club announces: American Club – 2.5% Britannia – 2.5% Gard – 2.5% Japan – 3% London – 5% North of England – 2.5% Shipowners – 0% Skuld – (not applicable) ...
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