Standard P&I Club announces 2011 General Increase
The Standard P&I Club board is seeking a 3.5% general increase in premium rates for 2011’s P&I renewal, whilst members with adverse records should expect their premiums to be further increased.
Rates will also be adjusted following any increase in the International Group reinsurance program costs.
Deductibles below USD10,000 will be increased by USD1,000.
Regarding the Defence Class, the Club has determined that there will be a 3.5% general increase in premium rates.
Regarding the Open policy years, no calls in addition to the Estimated Total Premium are expected at this stage, for both P&I and FD&D classes
Release calls rates have been set at: 5% for 2008, 10% for 2009 and 15% for 2010.
Release calls for open policy years for FD&D is 10%>
For a full copy of the Club’s announcement, please contact FP Marine Risks.
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