Unbudgeted supplementary calls and 10% GI for Japan P&I at 2023 renewal

There will be a 10% general increase in mutual premium rates for Owners’ P&I and FD&D and charterers’ entries. In addition, Members’ rates will be adjusted as appropriate to reflect their individual claims record, as well as any changes in the cost of the International Group’s reinsurance programme.

The Board of the Club has also decided to levy unbudgeted supplementary calls for 2020 and 2021 up to 25% each year – the final level of such unbudgeted call will be confirmed in February 2023.

Release calls

2020 – 30% for P&I and 25% for FD&D

2021 – 30% for P&I and 25% for FD&D

2022 – 45% for P&I and 25 % for FD&D

2023 – 3.5% for P&I and 3.5% for FD&D

Details of the Club’s position are available in their Circular.