Unless specifically mentioned the following is in respect of the Mutual P&I entries and excludes FD&D, fixed premium entries and charterer’s liability. The headline General Increase numbers are as follows and will be updated as each Club announces – click on each Club’s link to see the full GI announcement. GXL (reinsurance) rate changes passed on to Members unless otherwise specified.
American Club – Target 7% increase on P&I and FDD. All deductibles of USD 50,000 or less to be increased by 10%, subject to a minimum of USD 2,500 – 35% unbudgeted supplementary call on 2022 PY
Britannia – Minimum 7.5% rate increase, with an additional 2.5% being sought in ‘remedial action’. Minimum deductible rises in crew, cargo and all others. FDD deductible rewritten so Members bear 1/3rd of total costs. Approx. 12% gross premium capital distribution for mutual members renewing at 20 Feb 2025.
Gard – 4% ‘average’ increase and 10% Owners General Discount for Members renewing in 2025
Japan – 7% GI for P&I and Charterers entries, no GI for FDD.
London – 5% target increase in P&I and FDD rates.
NorthStandard – 5% GI for mutual and fixed premium entries for P&I and FDD. Minimum USD 1,000 deductible rise for all P&I deductibles below USD 30,000.
NorthStandard Coastal and Inland Class – 6.5% GI for mutual and fixed premium entries. RI cost adjustments to be absorbed. RDC and FFO deductibles increased by 5,000 or 20% (whichever is greater), Crew, Cargo and All Others deductibles increased by USD 1,000 or 10% whichever is greater.
Shipowners – No General Increase to apply in premium or deductibles. Renewal premiums will be inclusive of any adjustment to reinsurance costs.
Skuld – 5% target increase in ETC. 5% Members credit on mutual P&I premium for renewing Members
Steamship – 5% GI for all premium in 2025/26 PY and 12.5% return on 2024/2025 mutual premium
Swedish – 5% GI and deductibles increased by 10% (minimum USD 1,000).
UK Club – 6.5% GI for all premium in 2025/26 PY + 10% increase in deductibles (minimum USD 1,000)
West of England – 5% GI for P&I entries, As Expiring for FDD entries for 2025/26 PY
