Japan Shipowners P&I Club announces 10% increase for 2011 P&I renewals
The Board has decided to implement a 10% increase on the P&I advance calls rates, with any adjustment in the cost of the International Group reinsurance program to be added. Individual member’s loss record will be reviewed for renewal in light of the above general increase.
The estimated supplementary call is set at 40% of the advance call.
The Club has also revised their standard deductibles and will bring in line deductible levels for their entries as necessary.
No general increase is requested in advance call for FD&D entries, and the estimated supplementary call is set at 20% of the advance call, and release call 25%.
30% supplementary call for 2007 was levied as per original estimate and the policy year is now closed without further supplementary call.
30% supplementary call for 2008 was levied earlier this year and no further supplementary call is expected.
40% estimated supplementary call for 2009 will now be levied and due for payment by the end of January 2011.
40% estimated supplementary call for 2010 remains
Release calls are 5% for 2008 and 2009.
Release calls for 2010 and 2011 are 45%.
Please contact FP Marine Risks to obtain a full copy of the Club’s circular
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