Another 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) ...
Continue ReadingAmerican Club 2016 General Increase announced
The American Club, managed by the Shipowners Claims Bureau, has announced a 2.5% General Increase for mutual and fixed P&I entries for 2016. The Club has announced there will be no General Increase on their FD&D Class, both fixed and mutual. Deductibles have been increased as follows: All deductibles below USD10,000 will be increased by USD1000; Crew deductibles shall be minimum ...
Continue ReadingAmerican Club latest to diversify in to H&M
The American P&I Club, managed by the Shipowners Claims Bureau Inc, is the latest P&I Club to diversify into the hull and machinery market. Shipowners Claims Bureau (SCB) have announced the opening of the American Hellenic Hull Insurance Company, based in Cyprus, but underwriting from Piraeus. SCB have joined with the Hellenic Hull Mutual and, subject to regulatory approval, will move their ...
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