Latest Blog Articles
Insurers withdrawing from Hull and Machinery market
6 December 2012
Posted in Blog
Tagged: capacity, Hull and Machinery, hull market, insurers, underwriters
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. Whilst technically it has been operating at an overall loss for sixteen years, the H&M market has still seen recent new entrants such as WR Berkley, Argo and Barbican [...]
Read more »Japan P&I Club sets GI at 5% for 2013
28 November 2012
Posted in Blog
Tagged: general insurance, P&I, renewal, shipowners
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%. The Members record will also be individually assessed as usual and rates will also be adjusted to reflect any change in the costs of the [...]
Read more »The American Club adopts 10% General increase
28 November 2012
Posted in Blog
Tagged: general increase, P&I, renewal, shipowners
Whilst the Club’s retained claims exposure has developed in line with projections over the past two years, the Club is concerned about the continuing increase in the pooling costs. The Board has therefore agreed on a 10% General Increase on P&I and FD&D estimated total premium for the 2013/14 policy year. The General Increase will [...]
Read more »North of England seeks 15% General Increase for 2013
28 November 2012
Posted in Blog
Tagged: general increase, P&I, renewal, shipowners
The Club has incurred an increased level of claims, in costs as well as in frequency, concomitantly with the increase in Pool claims experienced by the IG Group over the past couple of years. Their conservative approach to investments has maintained a positive return, albeit modest. This, combined with the overall increase in claims, is [...]
Read more »Britannia 2013 advance call to be increased by less than 5%
16 November 2012
Posted in Blog
Tagged: general increase, P&I, renewal, shipowners
In response to the increase in costs of claims, including Pool claims, and in a context of reduced investment returns, the Club has agreed that a 12.5% increase in advance call is necessary for the 2013 policy year, with a 45% deferred call. However, the Club is mindful of the depressed shipping environment and has [...]
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
16 November 2012
The Club’s Committee has agreed on a 7.5% increase on P&I mutual premium for 2013, but to be split between the advance call and the forecast additional call.
5 November 2012
The Club’s mutual advance calls will be increased by 5% for 2013/14 for both P&I and FD&D classes.
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