UK Club announces nil General Increase for 2019
The UK Club has announced a nil General Increase with no change in standard deductibles which remain at USD12,000. As usual any change in the Group reinsurance costs will be passed onto the membership. This decision comes despite a increase in claims costs year to date and a combined ratio of 107% for the first 6 months of the 2018/19 ...
Continue ReadingUK P&I Club will not seek any General Increase for 2018
Following on from their recent meeting, the UK P&I Club’s Board has decided that for 2018 policy year: no General Increase will be sought from their Members standard deductible level will remain unchanged the release call will be set at 10% of mutual premium As per previous years, the cost of the GXL programme will be passed on to Members ...
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 ReadingUK P&I Club announces 3% return on 2015/16 and Nil General Increase for 2017 renewal
The UK P&I Club, in line with all other IG Clubs so far has announced that they will not be seeking a General Increase across their Membership, but will focus on individual performance and records. The standard deductible will be increased to from USD10,000 to USD12,000 per event from 20 February 2017. At the same time, the Club will return ...
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 ReadingUK Defence Club announces 2016 General Increase
The UK Defence Club, managed by Thomas Miller, has announced a nil General Increase for 2016. The UK Defence Club is a specialist mutual solely providing FD&D cover for their members on a standalone basis. In addition, the Club is offering for the second year, a Continuity Credit (taken as a reduction from the quoted 2016/7 premium) to existing members ...
Continue ReadingUK P&I Club General Increase 2016 announced
At their recent meeting the Directors of the UK P&I Club have agreed on a general increase of 2.5% on P&I 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 maintaining the standard deductible at USD10,000 with no change this year. ...
Continue ReadingReduction 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 ReadingUK P&I Club 2015 General Increase announced
At their recent meeting the Directors of the UK P&I Club have agreed on a general increase of 6.5% on P&I premium for at 2015 renewal. In addition, as per previous year, any change in the International Group reinsurance premium will be charged at cost to Members. As part of the effort to maintain underwriting balance, the Club is increasing ...
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