London Steamship calling for 5% General Increase
Tagged: P&I
The Club’s Committee has decided to apply a 5% increase on 2009 Estimated Total Cost for the 2010/2011 Policy year, prior to further adjustments based upon individual records.
Any adjustment to the reinsurance cost of the Club will also be applied to Members.
The Release call rate is set at 15% of Advance Call.
Additionally, all deductibles currently below USD15,000 will be increased by USD1,000.
As far as previous years are concerned, 2006 is closed without further call, and no further calls are anticipated for 2007 and 2008. For 2009, the estimated Deferred Call rate remains at 40% of the Advance Call.
The release call for 2008 is reduced to 20% Advance call, whereas the rates remain unchanged for the other open years.
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