UK P&I Club sets General Increase for 2011
The UK P&I Club has decided that a 5% increase in the premium rating will be sought from all Members for the 2011 policy year, plus any increase in the costs of the International Group reinsurance premium for the mutual Members.
As far as deductibles are concerned, the standard minimum deductible will remain at USD5,000 for 2011 renewal.
Regarding prior years, no further supplementary premium is anticipated for 2008, 2009 and 2010 policy years.
Release calls are set at 5% for 2008, 10% for 2009, 15% for 2010 and 20% for 2011.
For a full copy of the Club’s circular, please contact FP Marine Risks.
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