In response to upwards pressure on claims costs, notwithstanding limited impact of Pool claims on the Club, the Board has decided to apply a 5% General Increase for 2026 renewal.
2026 premium will also be adjusted as per changes to the IG’s reinsurance costs.
In addition, from 2026 deductibles will be applicable to legal costs and expenses, and the standard minimum deductibles increased as follows:
- Cargo USD 17,500
- Crew USD 10,000
- 3rd Party USD 30,000
- Other USD 15,000
All deductibles below standard minimum subject to minimum increase of USD2,500
Release calls:
- 2026-27: 15%
- 2025-26: 15%
- 2024-25: 15%
- 2023-24: 5%
The Club’s circular contains full details of the announcement.
