Steamship 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 ...
Continue ReadingUK Defence Club announces 2016 General Increase
The UK Defence Club, managed by Thomas Miller, has announced a nil General Increase for 2016. The UK Defence Club is a specialist mutual solely providing FD&D cover for their members on a standalone basis. In addition, the Club is offering for the second year, a Continuity Credit (taken as a reduction from the quoted 2016/7 premium) to existing members ...
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 ReadingIn the Press, Tradewinds 16th October 2015
Tradewinds article on our MBO announcement and the opportunities this provides us with for the future. Tradewinds 16 Oct 2015 Media contact: Andrew Brooker
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