London P&I Club announces nil General Increase for 2019
The London Club has announced a nil General Increase for the 2019/20 policy year with any change in the Group reinsurance costs being passed onto the membership. There will be no change in the standard deductibles on a club wide basis however individual member’s deductibles will be scrutinized. This absence of a General Increase also applies to the Club’s Defence ...
Continue ReadingCyber Risks – Shipping needs a new Policy wording
We were invited to present to the 5th Asia Marine Insurance Conference in Hong Kong during Hong Kong Maritime Week on Cyber Risks in Shipping. Cyber Risks Presentation to Asia Marine Insurance Conference, November 2017 We took the opportunity to invite the audience of insurers to create a marine cyber product, focused on the shipping market. We believe operators need a ...
Continue ReadingLondon P&I Club will not seek any General Increase for 2018 renewal
The London P&I Club, managed by A. Bilbrough & Co, has announced they will be seeking a nil General Increase for the 2018/9 policy year in both P&I and FD&D classes. There will be an increase in deductibles of USD2000 for crew/people claims and USD1000 for all other deductibles. The Release Calls for open years have been amended to the ...
Continue ReadingAt a glance – IG Club General Increases for 2017
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 ReadingOverview of 2016 IG P&I Club General Increases (Final)
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: American Club – 2.5% Britannia – 2.5% Gard – 2.5% Japan – 3% London – 5% North of England – 2.5% Shipowners – 0% Skuld – (not applicable) ...
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 ReadingLondon P&I Club General Increase 2016 announced
A Bilbrough & Co, managers of the London P&I Club have announced a general increase of 5% on P&I and FD&D premium at the 2016 renewal. In addition, as per previous years, any change in the International Group reinsurance premium will be charged at cost to Members. The Club is increasing deductibles by USD2000 this year, after the same increase for deductibles below ...
Continue ReadingIran Sanctions being lifted…but still in place (Updated 3 Sept 15)
Update 3 September 2015: As the US moves towards congressional approval of the deal with Iran, timelines are becoming a little clearer now. Whilst, as at today’s update, the sanctions remain fully in place it appears more likely that the deal will be approved by the US, then the UN and, of course, Iran. At the same time, there appears ...
Continue ReadingThe New Marine Insurance Act 2015 (sadly now just called the Insurance Act 2015)
It’s fair to say that Marine Insurance isn’t well known for its rapid evolutionary pace. The Marine Insurance Act 1906 codified in law the practices at the time, which themselves dated back another 200 years in some parts. ‘Fast’ forward another 110 years and the new Insurance Act 2015 (no longer the Marine Insurance Act) will finally become law in ...
Continue ReadingSwedish Club receives A- rating from AM Best
The Swedish Club has received an upgrade from AM Best to an A- (Excellent) rating. Standard & Poor’s reaffirmed it’s “BBB+” rating earlier this year, although they had raised their assessment of the Club’s capital adequacy and earnings to ‘strong’. At the same time, the London Club, managed by A Bilbrough, have received their first interactive rating of ‘BBB’ from ...
Continue Reading