Britannia calls for 5% General Increase for 2010
The Committee has decided to increase the existing advance call rates by 5% for P&I entries and in addition the Members’ individual rates will be adjusted based on the cost of the International group Reinsurance Programme, as well as their individual claims’ records. The deferred call for 2010 is 40%.
The Club will also continue the adjustment of deductibles initiated this year, and this will affect crew, cargo and all other deductibles.
Regarding previous years, 2006 is closed without further call and 2007 is expected to be closed next year on the same basis. The full 40% deferred call for 2008 is now called and the 40% deferred call budgeted for 2009 is maintained at the moment.
As far as FD&D entries are concerned, a 20% increase on advance call rates will be applied at renewal for mutual members, with a deferred call set at 50%. Year 2005 is closed without further call, and no further calls in respect of 2006 and 2007 is made at the moment. The 20% Deferred call for 2008 will be collected, and the 20% deferred call budgeted for 2009 remains.
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