Japan P&I Club announces nil General Increase for 2017
The Japan P&I Club has announced they will be seeking nil General Increase for the Advanced Call for the 2017 policy year, with the Supplementary Call remaining at 40% of the Advanced. FD&D entries will also be subject to a nil General Increase. In addition, the Club has updated the Release Calls on open years as follows: 2017 – 45% 2016 ...
Continue ReadingNorth of England announces nil General Increase for 2017 and 5% Credit on 2016 year (Updated)
Updated 26 November 2016 Since the below announcement by the Club, they have clarified that the premium credit for 2016 is not conditional upon renewing in 2017. However, for Members who do renew, the premium credit will be offset against the first instalment for 2017/8. The North of England has announced they will not be seeking a general increase in ...
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 ReadingSteamship Mutual announce nil General Increase for 2017 and 10% rebate for 2014/15 policy year
Following their meeting on 25 October, the Steamship Mutual has decided to return capital to the Club’s Members. The return will be 10% of premium paid on Class 1 (P&I) owned mutual entries in respect of the 2014/15 policy year. It was also decided that no General Increase was required at the 20 February 2017 renewal – this being the ...
Continue ReadingGard announces nil General Increase for 2017
Gard have announced that no General Increase will apply for the 2017 P&I and FD&D renewal and that Members should continue to budget for the current 25% Deferred Call on the 2016/7 year. Gard would usually announce any reductions in their Deferred Calls for 2016 at their Board meeting in May 2017. The decision to announce a nil General Increase, ...
Continue ReadingStandard Club announces nil General Increase and 5% return
Following its board meeting in Tokyo on 21st October, the Standard Club has announced stable underwriting results and a healthy investment forecast for the current year. Free reserves are expected to increase at the year ending February 2017 and, as such, the board has decided that there will be no general increase for the coming 2017 renewal and the Club ...
Continue ReadingCuban Sanctions – Hull and War Insurance
UPDATE 25 October 2016 Since our original post, the US has continued to roll back the sanctions in place with the latest amendment significantly reducing the ban on vessels calling in to the US for 180 days after a call to Cuba. Essentially, if the cargo being carried to Cuba is on the latest list as an EAR99 cargo, then the ...
Continue ReadingNil General Increase for West of England
Further to the Club’s Board meeting earlier this week, West of England has announced that they will not apply any General Increase on Advance Calls at 2017 renewal across their Owners P&I, Charterers’ Liability and FD&D entries for the second consecutive year. The Forecast Additional Call (due on or before 20 August 2018) is set at 35% of the Advance ...
Continue ReadingClaims Alert – Fraudulent Bank Accounts (updated again 22 April 2016)
UPDATE 22 APRIL 2016 Further to our advices below, we have received another alert from the International Transport Intermediaries Club (ITIC), a specialist professional indemnity insurer for the transport industry, which shows that the fraudsters continue to find different and elaborate ways to deceive clients in the marine industry. The full circular is available here, but the ITIC specifically advise: ...
Continue ReadingJapan P&I 2016 General Increase announced
The Japan P&I Club have announced a 3% General Increase on their Advanced Call for 2016, with the Supplementary Call remaining at 40% for mutual entries. The Club are also levying a 5% General Increase on charterer’s entries for 2016. FD&D (both fixed and mutual) will be subject to a nil General Increase. The Board has reduced the Supplementary Call for ...
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