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Crisis = danger and opportunity

23 February 2016

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“The Chinese use two brush strokes to write the word ‘crisis’. One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger–but recognize the opportunity.” ― John F. Kennedy John F. Kennedy wasn’t strictly correct with his translation, though it does have merit. So where does an insurance […]

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Swedish Club – General Increase

9 December 2014

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Section 1: Statement from the Management 1. Overall claims frequency for the Club during the last 3 years is fifty percent higher than average for the period 2005-2010, and is increasing 2. Underlying estimated claims inflation is 3 – 4% per annum International Group excess reinsurance negotiations are on-going and a small reduction or an […]

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Japan Club – General Increase

9 December 2014

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I. Introduction The Members continue to face a tough business environment, which is mainly due to the relatively slow pace of economic recovery at home and abroad. Because of this, great expectations are placed on any sign of improvement in the shipping industry. The volume of vessels entered with the Association reached 93.12 million gross […]

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American Club – General Increase

9 December 2014

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Recent Club performance During the past twelve months, the “churn effect” (the term applied to the reduction of premium volume as older, higher-rated vessels are replaced by newer, lower-rated ships), has had a more subdued impact upon premium revenue than was the case in 2012 and 2013. Accordingly, premium income has been stable during 2014, […]

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London Club – General Increase

8 December 2014

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Class 5 (P&I) and Class 8 (FD&D) Open Policy Years & 2015/2016 Policy Year – Calls The Committee has reviewed the position in respect of open Policy Years as well as Call requirements for the forthcoming 2015/2016 Policy Year and reached the following decisions: Class 5 (P&I) 2011/2012: The year shall be closed without further […]

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