UK P&I Club announces 3% General Increase
Tagged: marine insurance, P&I
The UK P&I Club has announced a 3% General Increase for both fixed and mutual members for 2012, exclusive of any change in reinsurance costs which will be passed on to mutual Members.
There is no Supplementary Call in excess of the mutual premium for any of the open years being 2009, 2010 and 2011 .
Release Calls are set at 5%, 7.5% and 12.5% respectively plus any outstanding instalments of mutual premium.
The 2012 Release Call will be set at 15% plus any outstanding instalments of mutual premium.
The standard deductible will now be increased to USD6000 any claim per event, including fees and expenses.
The Club’s circular and Review is available from your usual FP Marine Risks’ contact or from info@fp-marine.com
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