American 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 ...

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Singapore 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 ...

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Latitude 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 ...

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American 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 ...

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Lodestar 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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