West of England P&I Club sets General Increase for 2011 Renewals
The board has decided to increase Members’ advance calls by 5% for 2011 P&I renewals, and will seek specific increases from Members with an adverse claims performance. In addition, the reinsurance costs will be payable at its actual cost.
The forecast additional call for 2010 is 30% and the further release call is 30% of the advance call.
The Club will also increase all deductibles of USD12,500 or less by a minimum of USD2,000.
Regarding the FD&D entries, a general increase of 7.5% will apply to all advance call rates, with 30% forecast additional call and 30% release call.
For a full copy of the Club’s circular, please contact FP Marine Risks.
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