Unbudgeted supplementary calls and 10% GI for Japan P&I at 2023 renewal

There will be a 10% general increase in mutual premium rates for Owners’ P&I and FD&D and charterers’ entries. In addition, Members’ rates will be adjusted as appropriate to reflect their individual claims record, as well as any changes in the cost of the International Group’s reinsurance programme. The Board of the Club has also decided to levy unbudgeted supplementary ...

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Standard Club announces 10% GI for 2023 renewal

The Club has announced that it is seeking a 10% General Increase on P&I and Defense class premium rates for the 2023/24 policy year. The management will carry out analysis of individual owners’/members’ rating adequacy, terms and deductibles along with historical and forecast claims exposures, and additional contributions will be sought from owners/members with adverse records. The club’s investment portfolio, ...

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No GI set for 2023 renewal by London P&I

No general increase is set for P&I and FD&D renewals by London P&I. The renewal terms will be based on individual Member loss records and risk profiles incorporating the anticipated impact of inflation on future claims costs. . The Board has instructed Management to pay particular attention to the adequacy of all fleet rating and deductible levels so that an ...

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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, ...

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West of England announces 10% GI for 2023

The Board recognizes the premium for previous year remains insufficient to meet current and expected future claims costs, especially having in mind the potential impacts of high global inflation. Therefore, West P&I has announced General Increase of 10% on mutual P&I premium and 15% on mutual FD&D premium. For Members whose records are adverse, additional action will be taken where ...

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