Articles from November 2010:
American Club announces 2% General Increase for 2011
26 November 2010
Posted in Blog
The board has decided that for mutual P&I entries, all expiring advance call premium will be subject to a 2% General Increase for 2011 renewal, whilst the mutual FD&D entries will be subject to a 10% increase on expiring advance call. Deferred calls for both P&I and FD&D are budgeted at 25%. Any additional costs [...]
Read more »West of England P&I Club sets General Increase for 2011 Renewals
16 November 2010
Posted in Blog
The board has decided to increase Members’ advance calls by 5% for 2011 P&I renewals, and will seek specific increases from Members with an adverse claims performance. In addition, the reinsurance costs will be payable at its actual cost. The forecast additional call for 2010 is 30% and the further release call is 30% of [...]
Read more »The London Club calling for 5% General Increase
16 November 2010
Posted in Blog
The Club’s Committee has decided to apply a 5% increase for the 2010/2011 Policy year, prior to further adjustments based upon individual records. Any adjustment to the reinsurance cost of the Club will also be applied to Members. The Release call rate is set at 15% of Advance Call. Additionally, all deductibles currently below USD15,000 [...]
Read more »Steamship Mutual announces no General Increase for 2011 P&I and FD&D renewals
16 November 2010
Posted in Blog
The Club’s directors have decided that no general increase will be sought this year, however individual Member’s record will be assessed as per usual. 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 either. Release calls have been set [...]
Read more »Shipowners P&I Club confirms no General Increase for 2011
16 November 2010
Posted in Blog
The Directors have decided that no general increase will be sought form Members for the 2011/2012 policy year. Nonetheless, the Club will take into consideration each individual Member’s claims performance and vessel sectors to seek specific premium increases. Additional call for 2010/11 is reduced to zero, and estimated additional call for 2011/12 is zero. For [...]
Read more »North of England calls for General Increase for 2011 renewal
16 November 2010
Posted in Blog
The Directors have decided to apply a General Increase of 3% to expiring premium rates, and Members with adverse loss records should expect higher increases. 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 currently below USD5,000 will [...]
Read more »UK Defence Club sets General Increase for 2011 renewal
16 November 2010
Posted in Blog
The UK Defence Club has decided that a 2.5% increase in the premium rating will be sought from all Members for the 2011 policy year, prior to further adjustments based on Member’s records. For a full copy of the Club’s circular, please contact FP Marine Risks.
Read more »New hull syndicates in London signal good news for Assureds
4 November 2010
Posted in Blog
Tagged: capacity, Hull and Machinery, Lloyd's, marine insurance, premiums, rates
There has been considerable activity of late in the Lloyd’s Marine Hull Market. A series of underwriting groups are preparing to launch new Hull operations for the 2011 year of account. To date, we have heard confirmation of the following new entrants into the Marine Hull sector : 1) Barbican 2) Canopius 3) Liberty [...]
Read more »Recent articles
3 September 2012
Have recessionary risks hindered the opportunities available to Asian marine insurers? And is the future a profitable one?
20 July 2011
What has changed in the marine insurance markets over the last year? And can Assureds expect to see these soft markets continue?
Blog
6 December 2012
In recent months, three insurers have pulled out of the Hull and Machinery market as competitive pressures and a year of substantial claims take their toll.
28 November 2012
At the recent Meeting of the Association’s board of Directors, the general increase to be applied to the advance call rates for the 2013 policy year was set at 5%.
Press releases
16 April 2013
INTTRA, the world’s largest multi-carrier shipping network for ocean freight, has launched a new member service that enables shippers to purchase cargo insurance from marine insurance specialist, FP Marine Risks.
4 February 2013
Hyperion Insurance Group Limited, the international insurance intermediary group, and FP Group Limited (FP), the Hong Kong-headquartered specialist marine broking group, are pleased to announce their partnership today, with Hyperion taking a 55% stake in FP Group Limited.
Opinions
26 March 2009
26 November 2008