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.
Recent articles
20 July 2011
What has changed in the marine insurance markets over the last year? And can Assureds expect to see these soft markets continue?
14 July 2011
We recommend ways for freight forwarders to ensure the liability insurance they purchase will protect them when they need it most.
Blog
30 March 2012
A recent report has highlighted how the rate of total losses of marine shipping has fallen significantly over the last 100 years.
30 January 2012
As of 30 January 2012, the US has issued some important sanctions against a few major corporations and the EU has escalated its regulations on Iranian trade.
Press releases
9 May 2012
FP Marine Risks has received approval for an investment into Shanghai-based HY Insurance Brokers. Both companies are specialist marine insurance brokers.
26 March 2012
Since 2007, FP Marine Risks has been offsetting carbon emissions that are generated through the company’s air travel. This year, we have chosen the Gobi Gansu Wind Power project in China.
Opinions
26 March 2009
26 November 2008