Tradewinds Article 2 December 2016
We were recently featured in Tradewinds after the launch of
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 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 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 ReadingClaims Alert – Valuations, Fair Market Values and Disclosure
We are grateful to Waltons & Morse for their recent briefing in respect of a claim made by an Assured for the total loss of a superyacht that was over-valued in a hull policy. The facts are as detailed in the briefing, but we are concentrating on two main aspects: the Assured over-valued the yacht in question; and did not disclose ...
Continue ReadingSingapore Insurance market – recent moves
As we “predicted” in our earlier blog, the ongoing consolidation would give rise to further changes and create opportunities for new leaders to emerge as well as new entrants to the Asian market continuing to focus on Singapore as their base. At the Lloyd’s new office opening party in Singapore recently, there were over 300 underwriters and brokers, many of ...
Continue ReadingLondon P&I Club latest to offer Fixed Premium P&I
The London P&I Club, managed by A. Bilbrough & Co, has announced they will now offer Fixed Premium (ie non-mutual) P&I and FD&D cover for vessels up to 7500GT with up to USD100 million limits. The cover has the backing of the London Club service and offices around the world (including Hong Kong). The London Club is the latest to enter ...
Continue ReadingLatitude speaking on panels at 3rd Asia Marine Insurance Conference, 12-13 October
We are pleased to be involved with the 3rd Asia Marine Insurance Conference, being held on 12/13 October at the Excelsior Hotel in Hong Kong. Some of the industry’s most senior underwriters will be there offering their views on the industry. Charles D’Alton will be on the P&I panel and Andrew Brooker will be on both the Owner’s panel and ...
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 ...
Continue ReadingLodestar Increases P&I Limit to USD1bn
Further to our blog in November 2014 about the fixed premium Clubs providing higher limits, Lodestar Marine in London have now obtained reinsurance support to offer the full USD1bn limit. With the increasing competition both within the fixed premium market and to move tonnage placed within the International Group, there is a continuing need to differentiate. The USD1bn limit will allow ...
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