Steamship announces 5% standard increase
Tagged: general increase, marine insurance, P&I
The Steamship Mutual has announced a 5% standard increase for mutual and fixed business before any changes in the reinsurance costs are taken into account for the 2012 year. Standard deductibles will be increased to a minimum of USD5,000 and all deductibles below USD25,000 will be increased by USD1,000.
Release calls for the 2009/10 and 2010/11 years will be reduced by 5% and 15% respectively and release calls for the 2012/13 year are set at 20%.
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