West of England announces 7.5% GI for 2021
The Club’s Board has decided to implement a 7.5% General Increase on P&I and FD&D mutual rates for 2021 policy year, and will further adjust rates for entries with adverse loss records. Standard P&I deductibles will be set at USD14,000, with deductibles below this level increased by USD2,500, but no change to FD&D standard deductible. Mutual rates will be adjusted ...
Continue ReadingWest of England announces 2.5% GI for 2020
The Club’s Board has decided to implement a 2.5% General Increase on P&I mutual rates for 2020 policy year, and will further adjust rates and deductibles for entries with adverse loss records. No General Increase will be applied on FD&D and Charterers Liability entries. The release call for 2020 is fixed at 15% for both P&I and FD&D. The Club’s ...
Continue ReadingAt a Glance – 2019/20 P&I General Increase
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 ReadingJapan P&I Club confirms Nil General Increase
The Japan P&I Club has decided that no general increase will be applied on P&I and FD&D entries, and that premium will be adjusted according to their individual loss record. Release calls and supplementary calls for the open policy years are updated as follows: 2016/17: 5% release call, no further supplementary call 2017/18: 5% release call, 40% estimated supplementary call ...
Continue ReadingSkuld renewal update 2019/20
Pursuing from their position since 2011, Skuld is not applying General Increase anymore, and renewal terms for 2019 will be solely based on individual Members’ records and performance. The Club is not changing their standard deductibles. Release calls are set as follows: 2016/17: 3% 2017/18: 7.5% 2018/19: 15% 2019/20: 15% Full details of Skuld renewal update is available in their ...
Continue ReadingNorth of England will not seek General Increase for 2019
The North of England P&I Club’s board of Directors have decided to not declare a general increase in P&I and FD&D premium for 2019 renewals. The Club will however undertake review of individual records and ratings to halt the ongoing decrease in ratings. Deductibles below USD25,000 for P&I Class will be increased by at least USD1,000 per deductible. FD&D deductible ...
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 ReadingStandard announces nil General Increase for 2019
The Standard Club has announced that no General Increase will apply to both P&I and FDD classes at the coming renewal, despite an notable increase in claims and a small reduction in free reserves projected for the end of the financial year. The club will attempt to apply a P&I deductible increase of 10% or USD2,000, whichever is greater. The ...
Continue ReadingLondon P&I Club announces nil General Increase for 2019
The London Club has announced a nil General Increase for the 2019/20 policy year with any change in the Group reinsurance costs being passed onto the membership. There will be no change in the standard deductibles on a club wide basis however individual member’s deductibles will be scrutinized. This absence of a General Increase also applies to the Club’s Defence ...
Continue ReadingSteamship Mutual announces nil General Increase for 2019
Steamship Mutual has announced a nil General Increase for the 2019/20 year and the Club will make a capital distribution of 10% of premium paid for Class 1 P&I mutual entries in the 2018/19 policy year, in respect of vessels whose entries are renewed for the 2019/20 policy year. The Club has reduced Release Calls for P&I and FD&D as follows: ...
Continue Reading