2023/2024 IG Reinsurance contract structure finalized

The IG’s Reinsurance Committee has now announced the GXL reinsurance contract for 2023/24 policy year has been finalized with rates as follows: Persistent Oil tankers + 3% / $0.6663/GT Clean Tankers +10.5% / $0.4051/GT Dry +6.2% / $0.5991/GT Containerships +10.5% / $0.7277/GT Passenger +0% / $3.8677/GT Chartered Tankers +7.5% / $0.3128 Chartered dries +7.5% / $0.1526/GT Malicious Cyber, Covid-19 and ...

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Shipowners P&I Club seeks 5% GI for 2022

The Shipowners P&I Club has announced 5% General Increase in Premiums for 2022 renewal, in line with last year’s position. Members with adverse records will face risk specific adjustments but as per previous years, the Club will continue to absorb any change in the IG GXL reinsurance programme, notwithstanding the significant increase anticipated. The Club is maintaining its approach of ...

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