American Club announces nil General Increase for 2010
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 reinsurance arrangements for 2010 will be charged separately.
At the same time, the board is now levying the full 20% supplementary call originally forecast for 2009, which will be invoiced before the end of the year but payable in 2010.
No further calls are expected for 2007 and 2008.
Release calls remain at 10% for 2007, 25% for 2008, 25% for 2009 and 50% for 2010.
On the loss prevention side, the American Club has set up an agreement with BMT MOSL in addition to their existing arrangement with Noble Denton Ltd. to conduct P&I surveys on their behalf.
P&I surveys arranged with those surveyors will be paid directly by the Club and then invoiced back to the Member.
For a full copy of the Club’s circular please contact FP Marine Risks Ltd.
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