West of England announces 5% General Increase for 2012
Tagged: general increase, marine insurance, P&I
The Club has adopted a 5% General Increase for the 2012 renewal of both P&I mutual entries and charterers’ entry. The cost of the Group reinsurance programme will be charged additionally as usual.
The forecast additional call for mutual entries is 30% payable in August 2013, with a further 30% for release call.
All deductibles below USD20,000, including deductibles under Rule 6, will be increased by USD1,000.
FD&D advance calls will be increased by 10%, and the same increase will apply to Charterers’ entries, with 30% forecast additional call and a further 30% release call.
FD&D deductible will be modified for members to bear the first USD5,000 of any claim. Thereafter 25% of the recoverable costs and expenses for each claim shall be borne by the Member up to a maximum of USD50,000.
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