Reduction in the IG Excess Reinsurance Programme for 2015
Negotiations have been finalised for the International Group General Excess of Loss reinsurance contract and the favourable Pool claims experience for 2012, 2013 and 2014 policy years, have enabled the group to achieve rate reductions: minus 8.11% for clean and dirty tankers minus 6.05% for dry cargo vessels and no increase for passenger vessels and chartered entries. The Clubs apart from ...
Continue ReadingSteamship Mutual P&I 2015 General Increase announced
The Steamship Mutual P&I Club has decided not to seek a general increase on any class of business in 2015/16. The club’s decision seems largely influenced by its improving financial position amid continued downwards pressure on its members’ earnings. The strengthening of the club’s finances is related to an improvement in back year claims together with a moderate claims experience in ...
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