In consideration to the inflationary costs of claims and the burden of the increasing pool claims, the Club has decided to apply a 5% General Increase on Owners mutual entries for P&I and FD&D at 2026 renewals.
In addition all deductibles below USD50,000 will be increased by 10% subject to a minimum of USD1,000, and the standard deductibles level is increased as follows:
- Crew Claim: USD6,000 per accident
- Cargo Claim: USD16,500 per voyage
- Other Claim: USD11,000 per accident
The rates will be further adjusted as per changes to the cost of the IG reinsurance programme
Release calls:
- 2026-27: 15%
- 2025-26: 15%
- 2024-25: 3.5%
- 2023-24: 3.5%
Full details of the Club’s position is available in the Circular.
