Steamship Mutual announce 5% General Increase and 12.5% capital return for 2025
Just as they did in 2023 Steamship have become the first IG Club to release their renewal circular relating to the 2025/26 policy year and have set a benchmark for other Clubs to follow. They have announced a 5% general increase to apply to all classes of business from 20 February 2025 as well as a capital distribution of 12.5% ...
Continue ReadingAmerican Club Announces 35% Supplementary Call for 2022 Policy Year
The American Club have released their 2024 circular relating to the development of closed and open policy years. The circular starts by stating that the Club has seen a small increase in gross written premium and a positive development on their closed policy years. However, with regard to the 2022 policy year, the Club have announced an unbudgeted supplementary call ...
Continue ReadingAt a Glance – 2019/20 P&I General Increase
The following is solely in respect of the Mutual P&I entries and excludes FD&D, fixed premium entries and charterer’s liability. The headline General Increase numbers are as follows and will be updated as each Club announces – click on each Club’s link to see the full GI announcement or use for real time data comparison: American Club – 0% for ...
Continue ReadingShipowners P&I Club announces Nil General Increase for 2019
The Shipowners P&I Club will rely on its strong financial position to subsidize the anticipated small Underwriting deficit for 2018, and therefore no General Increase will be applied for 2019 renewal. In addition, as per usual the Club will absorb any change to the costs of the GXL programme. At present the Club does not charge release calls. The Club’s ...
Continue ReadingSkuld renewal update 2019/20
Pursuing from their position since 2011, Skuld is not applying General Increase anymore, and renewal terms for 2019 will be solely based on individual Members’ records and performance. The Club is not changing their standard deductibles. Release calls are set as follows: 2016/17: 3% 2017/18: 7.5% 2018/19: 15% 2019/20: 15% Full details of Skuld renewal update is available in their ...
Continue ReadingNorth of England will not seek General Increase for 2019
The North of England P&I Club’s board of Directors have decided to not declare a general increase in P&I and FD&D premium for 2019 renewals. The Club will however undertake review of individual records and ratings to halt the ongoing decrease in ratings. Deductibles below USD25,000 for P&I Class will be increased by at least USD1,000 per deductible. FD&D deductible ...
Continue ReadingGard announces nil General increase for 2019
Gard has announced there will be no General Increase for both P&I and FD&D entries at 20th February 2019. There will be no change in deductibles for either class. The management has pointed to a continued, stable claims environment and an improvement in Gard’s back year claims as the reasons behind its decision, notwithstanding its free reserves have also risen ...
Continue ReadingSteamship Mutual announces nil General Increase for 2019
Steamship Mutual has announced a nil General Increase for the 2019/20 year and the Club will make a capital distribution of 10% of premium paid for Class 1 P&I mutual entries in the 2018/19 policy year, in respect of vessels whose entries are renewed for the 2019/20 policy year. The Club has reduced Release Calls for P&I and FD&D as follows: ...
Continue ReadingBritannia P&I Club announces nil General Increase for 2019/20
The Britannia P&I Club, managed by Tindall Riley & Co, has announced it will be seeking a nil General Increase for 2019/20 year, with any changes of the International Group Reinsurance costs being passed on to Members in the usual way. The Club will also be seeking to increase minimum deductibles as follows: 2018 2019 Cargo USD12,500 USD14,000 Crew USD3,000 ...
Continue ReadingTHE JOINT WAR COMMITTEE ISSUES HULL WAR LISTED AREAS, 14 June 2018
Further to our blog in December 2015, the Joint War Committee in London has released the latest War Listed Area – JWLA-023 14 June 2018 – applicable to Hull War, Piracy, Terrorism and Related Perils. The only change has been to delete Jakarta from the Listed Areas, with all other areas remaining the same. Whilst it is customary for underwriters to issue ...
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