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 ...

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Cyber 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 ...

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Overview 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) ...

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Iran 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 ...

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The 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 ...

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Swedish 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 ...

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