UK P&I Club seeks 7.5% overall increase for 2020 policy year
The Board of the UK Club has decided to address the premium deficit by targeting a 7.5% premium increase overall, rather than by setting a General Increase. Each Member will be reviewed based on their risks exposure and current level of premiums, in order to achieve a 7.5% increase across the Club’s membership.
In addition for 2020 policy, the standard deductible will increase from USD12,000 to USD15,000.
Release calls:
2017: 5%
2018:5%
2019: 10%
2020: 15%
Full details of the Club’s circular is available on their website.