American Club announces 2% General Increase for 2011
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 of the Club’s reinsurance arrangements for 2011 will be charged separately.
As the same time, the board is now levying the full 25% supplementary call originally forecast for year 2010, which will be invoiced before the end of the year, but payable in 2011.
No further calls are expected for 2008 and 2009.
Release calls are 10% for 2008, 25% for 2009 and for 2010, and 50% for 2011.
For a full copy of the Club’s circular please contact FP Marine Risks Ltd.
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