Articles from November 2009:
American Club announces nil General Increase for 2010
23 November 2009
Posted in Blog
The board of the American Club has decided no increases in advance calls for 2010 will be sought for P&I and FDD mutual entries, whilst the supplementary call forecast will be increased slightly from the current 20% of advance calls for 2009 to 25% of advance calls for 2010. Any additional costs of the Club’s [...]
Read more »North of England calls for General Increase for 2010
23 November 2009
Posted in Blog
Tagged: P&I
The Directors have decided to apply a General Increase of 5% to expiring premium rates, and Members with adverse loss records should expect a higher increase. In addition, any increase in the cost of the International Group Excess Loss Reinsurance Programme will also be applied to Members. All deductibles for P&I Risks will rise by [...]
Read more »Britannia calls for 5% General Increase for 2010
23 November 2009
Posted in Blog
The Committee has decided to increase the existing advance call rates by 5% for P&I entries and in addition the Members’ individual rates will be adjusted based on the cost of the International group Reinsurance Programme, as well as their individual claims’ records. The deferred call for 2010 is 40%. The Club will also continue [...]
Read more »Shipowners P&I Club to pass on increased reinsurance costs to pooled members
11 November 2009
Posted in Blog
Further to the Club’s reinsurance costs rising over the past 3 years, particularly in relation to the Club’s contributions to Pool claims, the Directors have decided that Members’ P&I premium should be increased at 2010 renewal by 5%. This increase will only apply to the vessels declared to the Pool, i.e. those with a limit [...]
Read more »The Standard P&I Club announces 2010 General Increase
11 November 2009
Posted in Blog
The Standard P&I Club board will be requiring a 3% general increase in premium rates for 2010 P&I renewal, whilst members with adverse records should expect their premiums to be further increased. Rates will also be adjusted following any increase in the International Group reinsurance program costs. The managers have also received instructions to increase [...]
Read more »Steamship Mutual sets general increase for 2010 P&I renewal
11 November 2009
Posted in Blog
The Club’s directors have set the standard increase for P&I at 5% prior to assessment of individual Member’s profile. Any adjustment in reinsurance costs, whether upwards or downwards, will also be passed on to the Members. No general increase will be sought for FD&D. It is anticipated that there will be no further call to [...]
Read more »UK P&I Club sets General Increase for 2010
11 November 2009
Posted in Blog
The UK P&I Club has decided that a 5% increase in the premium rating will be sought from all Members (mutual and fixed premium) for the 2010 policy year, plus any increase in the costs of the International Group reinsurance premium for the mutual Members. As far as deductibles are concerned, although a majority of [...]
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