North of England calls for General Increase for 2010
Tagged: P&I
The Directors have decided to apply a General Increase of 5% to expiring premium rates, and Members with adverse loss records should expect a higher increase. In addition, any increase in the cost of the International Group Excess Loss Reinsurance Programme will also be applied to Members.
All deductibles for P&I Risks will rise by 10% or a minimum of 10% and the release call is set at 20% for 2010.
The cost of FD&D cover is to increase by 10%, and whilst the deductible remains 25% of costs, the minimum FD&D deductible is also increased to USD10,000 and the maximum deductible increased to USD100,000. Release call is set at 20% as well.
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